LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global sugar-free food and beverages market size is projected to grow to USD 72.37 billion by 2021, at a CAGR of close to 7% over the forecast period.
This research report titled ‘Global Sugar-free Food And Beverages Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Consumers across the world are adopting healthier lifestyles and diets and cutting down on unwanted or unhealthy components from their diets. This preference towards healthier alternatives has been a major driver of the global sugar-free food and beverages market.
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Based on product, the report categorizes the global sugar-free food and beverages market into the following segments:
- Sugar-free beverages
- Sugar-free dairy products
- Sugar-free confectionery
- Sugar-free ice-creams
- Sugar-free bakery products
The top three revenue-generating products segments in the global sugar-free food and beverages market are discussed below:
“The sugar-free beverages segment of the sugar-free food and beverages market is projected to be worth USD 25.5 billion by 2021. The growth in this segment is driven by the rising demand for low-calorie beverages, and beverages with new flavors,” says Poonam Saini, one of the lead analysts at Technavio for food research.
Globally, there is an increase in demand for low-calorie and sugar-free beverages, such as juices, flavored water, sports drinks, energy drinks, and soft drinks, owing to the rising health consciousness among consumers. Stevia is currently the most preferred sugar-substitute in the market, and its use in low-calorie beverages will propel the growth of the market segment.
Sugar-free dairy products
The demand for sugar-free dairy products is driven by the consumer base with lactose intolerance and diabetes. Such consumers keep a strict count of the number of calories consumed in a day and maintain a low cholesterol diet with many nutritionally valuable ingredients. The popular products available in the segment includes sugar-free yogurts by Yeo Valley, sugar-free coconut milk from Delicious Dairy Free, for consumers who have lactose intolerance. Such innovative product offerings will add revenue to the market segment.
“The increasing health and wellness trend is impacting the confectionery market and resulting in changes in consumption pattern among consumers. The segment is set to showcase one of the fastest growth rates, especially from developing markets such as China,” says Poonam.
Vendors in the market are responding to the high demand by expanding their portfolio of sugar-free chocolates and non-chocolates. For instance, Hershey, a leading manufacturer in this market, replaced sugar in its products with maltitol and polyglycitol. Most of the growth in the market segment stems from developing countries such as China, Russia, and Mexico.
The top vendors highlighted by Technavio’s research analysts in this report are:
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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