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The sugar substitute, natural as well as artificial, is the fastest growing segment of the sweetener market and is expected to reach $13.76 billion by 2018, according to market research firm Markets and Markets.
The report “Sugar Substitute Market - By Types (HFS, HIS & LIS), Subtypes (Stevia, Sorbitol, Tagatose, Aspartame, Saccharine, Sucralose, Xylitol & Others) & Applications (Healthcare & Personal Care, Beverage & Food) - Global Trends, Forecasts to 2018” estimates the market at $10.54 billion in 2012. This value is expected to increase to $13.76 billion by 2018, with 4.5% Compound Annual Growth Rate (CAGR) for the forecasted period. North America lead the global sugar substitute market with a share of 49% followed by Asia-Pacific (21.4%), and Europe (20.9%) in terms of revenue in the year 2012.
In terms of volume, the sugar substitutes market is estimated to reach 16,687.0 kilo tons by 2018, growing at a CAGR of 1%. The global low intensity sweetener market is expected to grow at a CAGR of 6.5% from 2013 to 2018. The flourishing food and beverage sector drives its stevia segment to grow at a promising CAGR of 17.6% till 2018, the report said.
The global sugar substitute market in 2012 was dominated by high intensity sweeteners (49.8%) in terms of value and high fructose syrup (88.2%) in terms of volume. Sorbitol dominated the global polyols demands and held a market share of over 50.0% in 2012.