Sugar Substitutes Market Size, Share, Growth And Analysis Report To 2020: Grand View Research, Inc.
Sugar substitutes market is expected to witness growth owing to rising concern over diseases such as diabetes and obesity. Sugar substitutes act as an alternative with low calorific value and majorly used as an artificial sweetener in health care, food&beverage and personal care industries. Increasing application scope of sugar substitutes in frozen foods, baked products and confectioneries is expected to have a positive impact on market in the near future.
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U.S. FDA has approved the use of aspartame, saccharin, sucralose, neotame and advantame as artificial sweeteners in numerous food&beverage applications. Similarly, European Food Safety Authority (EFSA) also approved the use of various sugar substitutes which includes aspartame as a low calorie product. Aforementioned regulatory support is expected to have a positive impact on sugar substitutes market in the near future.
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Growth of the food&beverage industry in BRICS is expected to augment the demand for sugar substitutes. In addition, food and beverage industry growth in Israel and Saudi Arabia would play a significant role over the next six years. Positive food industry outlook in aforementioned countries would not only increase sugar substitutes market demand, but also facilitate new market entries over the next six years. As of 2013, PepsiCo markets its low calorie carbonated drink Diet Pepsi on a global scale. Diet Pepsi mainly comprise aspartame as a flavoring agent and is approved by U.S. FDA, the UK Food Standards Agency, EFSA and Canada's Health Canada. Malaysian company PureCircle markets its sugar substitutes under the brand name Reb A, which is extracted from stevia plant and is 400 times sweeter than sugar with a reduced calorie value.
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