The global sugar-free foods market was valued at around USD 52 billion in 2016 and is expected to surpass USD 72 billion by 2021, says Technavio.
Technavio has broadcasted its latest market research report on the global sugar-free foods market under its food portfolio. This market analysis reviews the chief drivers and prominent evolving trends and offers an analysis of key vendors like Hershey, Kellogg, Mars, Nestlé, and Unilever.
According to Poonam Saini, a lead analyst for food research at Technavio, “The growing demand for naturally derived sweeteners is driving the growth in the sugar-free foods market. These sugar substitutes have fewer calories and no artificial flavors. Furthermore, the manufacturers are focusing on launching new products containing various sugar substitute to expand their consumer base and increase their revenues.”
The rising availability of low-calorie naturally derived sweeteners and the rising awareness about their benefits will have a positive impact on the development of the sugar-free foods market. Stevia is a common sugar substitute that is derived from the plant of the same name and consists of active compounds which are nearly 150 times sweeter than sugar. Also, this product does not cause the side effects that are most commonly associated with artificial sweeteners like aspartame.
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Specialty retailers offering sugar-free food and beverages
The rising demand for low-sugar or zero-sugar products is primarily driven by the growing trend of health and wellness awareness. This trend has led to the establishment of specialty retailers that only sell sugar-free food products. The growing demand is encouraging these retailers to store a varied assortment of different branded sugar-free products. Specialty retailers also offer several promotional programs such as discounts, loyalty programs, and gift cards to attract consumers.
Increasing offerings from private labels
The rising demand for sugar-free products is resulting in the increasing popularity of private label brands in the global market. These private label products are offered at a lower price than nationally branded products. Some of its product offerings include cookies, confectionery items, juice, soft drinks, ice creams, novelties, and cereals.
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- market analysis contains an in-depth study of market shares and sizes of the sub-segments and geography. An analysis of the top companies, containing their market shares, business overview, key financials, etc. is provided in this study. This market study also offers a comprehensive analysis of key drivers, challenges, and opportunities influencing this market.
A more thorough analysis is presented in the Technavio report titled, ‘Global Sugar-Free Foods Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Oat-Based Snacks Market 2017-2021
- Global Diabetic Food Market 2016-2020
- Global Chewing Gum Market 2016-2020
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