砂糖代替品市場 – 2029年までの世界予測

Sugar Substitutes Market - Global Forecast To 2029

砂糖代替品市場 - 種類 (HFCS、高甘味度甘味料、低甘味度甘味料)、製造技術 (精密発酵、酵素変換、化学合成)、用途、形態、供給源、地域別 - 2029年までの世界予測
Sugar Substitutes Market by Type (HFCS, High-intensity Sweeteners, Low-Intensity Sweeteners), Manufacturing Technology (Precision Fermentation, Enzymatic Conversion, Chemical Synthesis), Application, Form, Source, Region - Global Forecast to 2029

商品番号 : SMB-31266

出版社MarketsandMarkets
出版年月2024年10月
ページ数368
図表数487
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The global market for sugar substitutes is estimated to be valued at USD 23.56 billion in 2024 and is projected to reach USD 29.90 billion by 2029, at a CAGR of 4.9% during the forecast period.

砂糖代替品の世界市場は、2024年に235億6,000万米ドルと推定され、予測期間中のCAGRは4.9%で、2029年までに299億米ドルに達すると予測されています。

The demand for sugar substitutes is gaining significant importance in food & beverages, health & personal care products, and pharmaceutical industries. Some of the factors, such as changing consumer preferences regarding healthy lifestyle habits, increasing obesity and diabetes prevalence, and enhanced awareness of the risks of excessive sugar consumption to health, are encouraging the manufacturers to provide low-calorie and zero-calorie sweeteners in the production of food & beverages, health & personal care products, and pharmaceutical products as consumers are more inclined towards the demand for sweetness without adding calories to the diet.

砂糖代替品市場 - 2029年までの世界予測
sugar-substitute-market

Additionally, regulatory support, government initiatives, and implementation of taxes on sugary products are positively influencing reducing sugar intake further and promoting healthy food consumption. This is expected to generate a significant opportunity for sugar substitute manufacturers to enter the market with the introduction of natural & novel sweeteners and new generations of sweeteners with improved flavor profiles and blends of various sweeteners for optimal taste to use in a wide range of applications. For instance, according to the Global Report on the use of sugar-sweetened beverage taxes published by WHO in 2023, national level excise taxes applied to sugar-sweetened beverages, as these beverages include significant sources of free sugars, and it is associated with several non-communicable diseases (NCDs). This would also help in maintaining public health concerns.

Furthermore, the inclusion of sugar substitutes in various functional food & beverage products is enabling manufacturers to develop new lines of products that are aligned with current trends, such as keto-friendly products, low-calorie or no-sugar-added products, natural & clean-label products, among others. These consumer trends and innovations in product labeling are expected to generate a significant opportunity for the functional food & beverage and health supplement product manufacturers.

Disruption in the sugar substitutes market: the disruption in the sugar substitutes market is expected to create both challenges and opportunities for the key players in the market. For instance, changes in product labeling laws for transparency in product packaging will create opportunities for natural sweetener products. However, this may pose a challenge for the manufacturers producing artificial sweeteners as consumers are focusing on ingredients that are naturally sourced and clean labelled. Furthermore, blending sugar substitutes with other functional ingredients in the final products could provide superior taste and flavors. Thus, technological innovation for ingredient management to optimize the sweetener profile could create better substitutes.

“The high-intensity sweeteners is growing at a significant CAGR among the type of sugar substitutes market.”

The high-intensity sweeteners such as stevia, monk fruits, aspartame, sucralose, ace-K, and other sweeteners are significantly sweetener than sucrose, and they are used in very small quantities to meet the desired sweetness. Consumer shift towards their dietary habits, such as the keto diet, low-carb regimes, among others, are minimizing sugar consumption, hence driving the usage of various high-intensity sweeteners in products such as snacks & cereals, beverages, and processed foods. Furthermore, the opportunity for reformulation of existing products with the usage of various high-intensity sweeteners with reduced-sugar options without compromising the taste of the products is also expected to generate significant demand for high-intensity sweeteners.

“The artificial high-intensity sweeteners segment is projected to hold a significant market share in the source segment during the forecast period.”

The FDA is actively monitoring and regulating sweeteners in food, reaffirming its commitment to public health, particularly after the International Agency for Research on Cancer (IARC) classified aspartame as “possibly carcinogenic to humans” in July 2023. The FDA disagrees with this conclusion, emphasizing that aspartame is one of the most extensively studied food additives, with over 100 studies confirming its safety and can be consumed under the approved conditions. Furthermore, the FDA still maintains its acceptable daily intake for aspartame and thus allows the additive in low-calorie or sugar-free products. It is largely used as a tabletop sweetener and in chewing gum, cold breakfast cereals, and dry bases for certain foods (for example, beverages, instant coffee & tea, gelatins, puddings & fillings, and dairy products & toppings). Furthermore, artificial sweeteners such as acesulfame potassium, sucralose, neotame, and saccharin can be used as a food ingredient, ensuring the regulatory status and safety of the ingredients in the product before marketing. Thus, acceptance of numerous sweeteners in food & beverage applications is expected to drive demand for artificial sweeteners, given increased requirements for lower-calorie and sugar-free options by the consuming public.

North America is expected to have a significant share in the sugar substitutes market.

North America is the largest market for bakery items, candies, and confectioneries. An upsurge in snacking culture and gourmet/artisanal products is further pushing this market in a positive direction. As health-consciousness increases among consumers, they are looking for alternatives to traditional sugary food, which is thereby promoting a tremendous shift towards healthy food.

Concurrently with this demand, the North American market for sugar substitutes is increasing. According to the article published by the US CENTERS FOR DISEASE CONTROL AND PREVENTION (CDC), over one in three Americans is at increased risk for type 2 diabetes in November 2023. An increased prevalence of prediabetes and a growing awareness toward healthier lifestyles have acted as an impetus for consumers to seek reduced amounts of sugar in the food products they consume, thereby increasing the use of sugar substitutes. ADM (US), Ingredion (US), and Cargill, Incorporated (US) are some of the major players in the North American sugar substitutes market. They specialize in new and innovative sweeteners with novel functions that support consumers in developing healthy eating habits, helping them in a better way to capture this new trend.

砂糖代替品市場 - 2029年までの世界予測 region
sugar-substitute-market-region

In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the sugar substitutes market:

  • By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
  • By Designation: CXO’s – 20%, Managers – 50%, Executives- 30%
  • By Region: North America – 25%, Europe – 30%, Asia Pacific – 20%, South America – 15% and Rest of the World –10%

Prominent companies in the market Cargill, Incorporated (US), ADM (US), Ingredion (US), International Flavors & Fragrances Inc (US), Tate & Lyle (UK), Ajinomoto Co. Inc (Japan), GLG Life Tech Corp (Canada), Celanese Corporation (US), Roquette Frères (France), PCIPL (India), Mane SA. (France), Döhler GmbH (Germany), Morita Kagaku Kogyo Co., Ltd (Japan), zuChem (US), and Van Wankum Ingredients (Netherlands).

砂糖代替品市場 - 2029年までの世界予測 ecosystem
sugar-substitute-market-ecosystem

Other players include Tag Ingredients India Pvt Ltd (India), Sweetly SteviaUSA (UK), Foodchem International Corporation (China), JK Sucralose Inc. (China), The Real Stevia Company AB (Sweden), Stevia Hub India (India), Pyure Brands (US), XiliNat (Mexico), Savanna Ingredients (Germany) and Bonumose, Inc (US).

Research Coverage:

This research report categorizes the Sugar Substitutes Market by Type (HFCS, High-intensity Sweeteners, Low-Intensity Sweeteners), Manufacturing Technology (Precision Fermentation, Enzymatic Conversion, Chemical Synthesis), Application, Form, Source, and Region – Global Forecast to 2029. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of sugar substitutes. A detailed analysis of the key industry players has been done to provide insights into their business overview, services, key strategies, contracts, partnerships, agreements, new service launches, mergers and acquisitions, and recent developments associated with the sugar substitutes market. Competitive analysis of upcoming startups in the sugar substitutes market ecosystem is covered in this report. Furthermore, industry-specific trends such as technology analysis, ecosystem and market mapping, patent, regulatory landscape, among others, are also covered in the study.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sugar substitutes and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Increase in health consciousness), restraints (Health concerns associated with consumption of sugar substitutes), opportunities (Rising investments in sugar substitute production), and challenges (Product labeling and claims issues) influencing the growth of the sugar substitutes market.
  • New product launch/Innovation: Detailed insights on research & development activities and new product launches in the sugar substitutes market.
  • Market Development: Comprehensive information about lucrative markets – the report analyzes the sugar substitutes across varied regions.
  • Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the sugar substitutes market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, brand/product comparison, and product food prints of leading players such as Cargill, Incorporated (US), ADM (US), Ingredion (US), International Flavors & Fragrances Inc (US), Tate & Lyle (UK) and other players in the sugar substitutes market.

Table of Contents

1               INTRODUCTION              33

1.1           STUDY OBJECTIVES       33

1.2           MARKET DEFINITION   33

1.3           STUDY SCOPE   33

1.3.1        MARKET SEGMENTATION           34

1.3.2        INCLUSIONS AND EXCLUSIONS 35

1.3.3        YEARS CONSIDERED      36

1.4           UNIT CONSIDERED        36

1.4.1        CURRENCY CONSIDERED            36

1.4.2        VOLUME CONSIDERED 37

1.5           STAKEHOLDERS               37

1.6           SUMMARY OF CHANGES               38

2               RESEARCH METHODOLOGY       39

2.1           RESEARCH DATA              39

2.1.1        SECONDARY DATA          39

2.1.1.1    Key data from secondary sources       40

2.1.2        PRIMARY DATA 40

2.1.2.1    Key data from primary sources           40

2.1.2.2    Breakdown of primary profiles           41

2.1.2.3    Key insights from industry experts    42

2.2           MARKET SIZE ESTIMATION         42

2.2.1        TOP-DOWN APPROACH                43

2.2.2        SUPPLY-SIDE ANALYSIS                 43

2.2.3        BOTTOM-UP APPROACH (DEMAND SIDE)           44

2.3           DATA TRIANGULATION                46

2.4           RESEARCH ASSUMPTIONS           47

2.5           RESEARCH LIMITATIONS AND RISK ASSESSMENT                 48

3               EXECUTIVE SUMMARY  49

4               PREMIUM INSIGHTS       54

4.1           SUGAR SUBSTITUTES MARKET OVERVIEW          54

4.2           NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE AND COUNTRY     55

4.3           HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE                55

4.4           SUGAR SUBSTITUTES MARKET, BY FORM             56

4.5           SUGAR SUBSTITUTES MARKET, BY APPLICATION                 56

4.6           SUGAR SUBSTITUTES MARKET, BY TYPE AND REGION                 57

4.7           SUGAR SUBSTITUTES MARKET: REGIONAL SNAPSHOT                 58

5               MARKET OVERVIEW       59

5.1           INTRODUCTION              59

5.2           MACROECONOMIC INDICATORS              60

5.2.1        FLUCTUATIONS IN PRICES AND SUPPLY OF CONVENTIONAL SUGAR               60

5.2.2        GLOBAL INCREASE IN POPULATION AND GDP 60

5.3           MARKET DYNAMICS       61

5.3.1        DRIVERS               62

5.3.1.1    Increase in health consciousness       62

5.3.1.2    Partnerships established between sweetener manufacturers and food & beverage entities      63

5.3.1.3    Advances in technology leading to development of new and improved sweeteners            63

5.3.1.4    Government support for sugar substitute consumption 63

5.3.2        RESTRAINTS      64

5.3.2.1    Adherence to international quality standards and regulations for alternative sweeteners and sweetener-based products   64

5.3.2.2    Side effects associated with consumption of sugar substitutes                 64

5.3.3        OPPORTUNITIES              65

5.3.3.1    Advancement in research & development in sweetener technology for diabetic wellness         65

5.3.3.2    Rising investments in sugar substitute production          65

5.3.3.3    Potential for diversification into other application sectors                 65

5.3.4        CHALLENGES    66

5.3.4.1    Product labeling and claims issues    66

5.3.4.2    Premium pricing of natural sweeteners owing to higher costs of production             67

5.4           IMPACT OF GEN AI ON FOOD & BEVERAGE INGREDIENTS/ADDITIVES          67

5.4.1        INTRODUCTION              67

5.4.2        USE OF GEN AI IN FOOD & BEVERAGE INGREDIENTS/ADDITIVES          68

5.4.3        CASE STUDY ANALYSIS 69

5.4.3.1    Kerry Trendspotter enabled precise identification and prediction of emerging ingredients and flavor trends by analyzing real-time social media data             69

5.4.3.2    Givaudan (Switzerland) developed advanced digital tools to translate vast amounts of consumer data into actionable insights                 69

5.4.3.3    International Flavors & Fragrances Inc. (US) partnered with Salus Optima (UK) to create a personalized nutrition platform   70

5.4.3.4    AI and cloud technology to address challenges in the food and beverage industry 71

5.4.4        IMPACT ON SUGAR SUBSTITUTE MARKET           71

5.4.5        ADJACENT ECOSYSTEM WORKING ON GEN AI   71

6               INDUSTRY TRENDS         72

6.1           INTRODUCTION              72

6.2           SUPPLY CHAIN ANALYSIS             72

6.3           VALUE CHAIN ANALYSIS               73

6.3.1        RESEARCH & PRODUCT DEVELOPMENT               74

6.3.2        RAW MATERIAL SOURCING         74

6.3.3        PROCESSING & EXTRACTION     75

6.3.4        QUALITY CONTROL AND COMPLIANCE                75

6.3.5        DISTRIBUTION AND SALES         75

6.3.6        END USERS         75

6.4           TRADE ANALYSIS             75

6.4.1        IMPORT SCENARIO OF SUCRALOSE        75

6.4.2        EXPORT SCENARIO OF SUCRALOSE, BY KEY COUNTRY                 77

6.5           TECHNOLOGY ANALYSIS             78

6.5.1        KEY TECHNOLOGIES     78

6.5.1.1    Ultrasound-assisted fermentation      78

6.5.2        COMPLEMENTARY TECHNOLOGIES       78

6.5.2.1    Liquid-liquid extraction       78

6.5.3        ADJACENT TECHNOLOGIES       79

6.5.3.1    HPLC-DAD          79

6.6           PRICING ANALYSIS          79

6.6.1        AVERAGE SELLING PRICE TREND OF SUGAR SUBSTITUTES AMONG KEY PLAYERS, BY LOW-INTENSITY SWEETENERS    79

6.6.2        AVERAGE SELLING PRICE TREND, BY REGION   80

6.6.3        AVERAGE SELLING PRICE TREND, BY TYPE         81

6.7           ECOSYSTEM ANALYSIS  82

6.7.1        DEMAND SIDE  82

6.7.2        SUPPLY SIDE     82

6.8           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            85

6.8.1        TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            85

6.9           PATENT ANALYSIS          86

6.10         KEY CONFERENCES & EVENTS DURING 2024–2025                 88

6.11         REGULATORY LANDSCAPE         89

6.11.1      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             89

6.11.2      REGULATORY FRAMEWORK       92

6.11.2.1  Introduction          92

6.11.2.2  North America      92

6.11.2.2.1                US           92

6.11.2.2.2                Canada   94

6.11.2.3  Europe   95

6.11.2.4  Asia Pacific            103

6.11.2.4.1                China      103

6.11.2.4.2                India       104

6.11.2.4.3                Japan      105

6.11.2.4.4                Australia & New Zealand    105

6.11.2.5  Latin America       106

6.11.2.5.1                Brazil      106

6.11.2.5.2                Argentina               107

6.11.2.5.3                Mexico   107

6.11.2.6  Middle East & Africa            107

6.12         PORTER’S FIVE FORCES ANALYSIS           107

6.12.1      THREAT OF NEW ENTRANTS      109

6.12.2      THREAT OF SUBSTITUTES          109

6.12.3      BARGAINING POWER OF BUYERS             109

6.12.4      BARGAINING POWER OF SUPPLIERS       109

6.12.5      INTENSITY OF COMPETITIVE RIVALRY 110

6.13         KEY STAKEHOLDERS & BUYING CRITERIA            110

6.13.1      KEY STAKEHOLDERS IN BUYING PROCESS           110

6.13.2      BUYING CRITERIA           111

6.14         CASE STUDY ANALYSIS 112

6.14.1      CARGILL, INCORPORATED: LAUNCH OF PRODUCTS TO LOWER SUGAR INTAKE 112

6.14.2      INCREASE IN INITIATIVES TO ENCOURAGE REDUCED CONSUMPTION OF SUGAR          112

6.15         INVESTMENT AND FUNDING SCENARIO               113

7               SUGAR SUBSTITUTES MARKET, BY MANUFACTURING TECHNOLOGY  114

7.1           INTRODUCTION              114

7.2           PRECISION FERMENTATION      114

7.3           ENZYMATIC CONVERSION          115

7.4           CHEMICAL SYNTHESIS  115

7.5           OTHER MANUFACTURING TECHNOLOGIES       115

8               SUGAR SUBSTITUTES MARKET, BY TYPE               116

8.1           INTRODUCTION              117

8.2           HIGH-FRUCTOSE CORN SYRUP 118

8.2.1        USED IN SEVERAL WELL-KNOWN BRANDS IN FOOD & BEVERAGE INDUSTRY   118

8.3           HIGH-INTENSITY SWEETENERS 120

8.3.1        USE IN ZERO-CALORIE AND SUGAR-FREE FOOD AND BEVERAGES DESPITE SOME METABOLIC CHALLENGES 120

8.3.2        NATURAL HIGH-INTENSITY SWEETENERS           122

8.3.2.1    Stevia      123

8.3.2.1.1 Evolution of Stevia                123

8.3.2.2    Monk Fruit            126

8.3.2.3    Other natural high intensity sweeteners           127

8.3.3        ARTIFICIAL HIGH-INTENSITY SWEETENERS       128

8.3.3.1    Aspartame              131

8.3.3.2    Cyclamate              132

8.3.3.3    Sucralose                133

8.3.3.4    Saccharin                134

8.3.3.5    Ace-K     135

8.3.3.6    Other artificial high-intensity sweeteners         136

8.4           LOW-INTENSITY SWEETENERS 137

8.4.1        PREFERRED FOR SWEETNESS COMPARABLE WITH THAT OF SUGAR WITHOUT RISK OF SIDE-EFFECTS        137

8.4.2        D-TAGATOSE    140

8.4.3        SORBITOL           141

8.4.4        MALTITOL          142

8.4.5        XYLITOL               143

8.4.6        MANNITOL         144

8.4.7        ERYTHRITOL     145

8.4.8        ALLULOSE           146

8.4.9        OTHER LOW-INTENSITY SWEETENERS 147

9               SUGAR SUBSTITUTES MARKET, BY APPLICATION                 149

9.1           INTRODUCTION              150

9.2           FOOD PRODUCTS            151

9.2.1        WIDE DEMAND FOR LOW-CALORIE SUBSTITUTES IN FOOD APPLICATIONS   151

9.2.2        CONFECTIONERY PRODUCTS   153

9.2.2.1    Chocolate confectionery      154

9.2.2.2    Sweet confectionery              155

9.2.2.3    Gums      155

9.2.2.4    Hard candies         155

9.2.2.5    Other confectionery products             155

9.2.3        BAKERY PRODUCTS       155

9.2.4        DAIRY PRODUCTS           157

9.2.5        TABLETOP SWEETENERS             158

9.2.6        SWEET SPREADS               158

9.2.7        OTHER FOOD APPLICATIONS   159

9.3           BEVERAGES        160

9.3.1        EXPANSION OF CONSUMER BASE FOR SUGAR-FREE BEVERAGES        160

9.3.2        CARBONATED DRINKS  162

9.3.3        FRUIT DRINKS & JUICES                163

9.3.4        POWDERED DRINKS       164

9.3.5        ALCOHOLIC BEVERAGES              165

9.3.6        FLAVORED ALCOHOLIC BEVERAGES     166

9.3.7        PLANT-BASED BEVERAGES         167

9.3.8        OTHER BEVERAGES        168

9.4           HEALTH & PERSONAL CARE PRODUCTS               169

9.4.1        NATURAL SWEETENERS DRIVEN BY CONVERGENCE OF SKINCARE INNOVATION AND DESIRE FOR NATURAL SOLUTIONS        169

9.5           PHARMACEUTICALS       171

9.5.1        INVESTMENTS IN INNOVATIVE FORMULATIONS FOR SWEETENERS IN PHARMACEUTICALS    171

9.5.2        COATING             172

9.5.3        FILLERS                172

9.5.4        BINDERS              172

9.5.5        HUMECTANTS  173

9.5.6        SWEETENERS    173

9.6           OTHER APPLICATIONS 173

10            SUGAR SUBSTITUTES MARKET, BY FORM             175

10.1         INTRODUCTION              176

10.2         DRY        177

10.2.1      OFTEN USED FOR BAKING AND BEVERAGE MIXES                 177

10.2.2      POWDER              178

10.2.3      GRANULES          178

10.2.4      OTHER DRY FORMS        178

10.3         LIQUID 179

10.3.1      RISE IN DEMAND FOR EASY SOLUBILITY AND LONG SHELF LIFE         179

10.3.2      SYRUP   180

10.3.3      GEL        181

11            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE                182

11.1         INTRODUCTION              183

11.2         ARTIFICIAL         184

11.2.1      GROWING USE UNDER RIGOROUS REGULATORY PURVIEW             184

11.3         NATURAL            186

11.3.1      SURGE IN DEMAND FOR PLANT-BASED FOOD AND BEVERAGES        186

12            SUGAR SUBSTITUTES MARKET, BY REGION        189

12.1         INTRODUCTION              190

12.2         NORTH AMERICA             193

12.2.1      US           201

12.2.1.1  Presence of key players and rise in prediabetic and diabetic population              201

12.2.2      CANADA               203

12.2.2.1  Government approval for several sugar alternatives       203

12.2.3      MEXICO                205

12.2.3.1  Surge in national campaigns to create health awareness                 205

12.3         EUROPE               206

12.3.1      GERMANY           214

12.3.1.1  Presence of several manufacturers of products with stevia to capitalize on demand for low-sugar options     214

12.3.2      UK          216

12.3.2.1  Prominent food industry supported by government push to integrate clean-label sweeteners into products                216

12.3.3      FRANCE                218

12.3.3.1  Aging population and increase in investor-friendly policies                 218

12.3.4      ITALY    219

12.3.4.1  Demand for functional food due to changing consumer lifestyles and aging population            219

12.3.5      SPAIN    221

12.3.5.1  High sugar consumption to be combated with government policies   221

12.3.6      REST OF EUROPE             222

12.4         ASIA PACIFIC     224

12.4.1      CHINA  233

12.4.1.1  Manufacturer investments in China, along with dynamic convenience store channels in tier-1 and -2 cities           233

12.4.2      INDIA    235

12.4.2.1  Rise in cases of diabetes and other associated ailments 235

12.4.3      JAPAN   237

12.4.3.1  Growth in government initiatives to promote healthy living                 237

12.4.4      AUSTRALIA & NEW ZEALAND     239

12.4.4.1  Rise in diabetic population to drive demand for healthier alternatives             239

12.4.5      REST OF ASIA PACIFIC   241

12.5         SOUTH AMERICA             242

12.5.1      BRAZIL 250

12.5.1.1  Rise in incidences of various health conditions that require low-sugar options to be managed              250

12.5.2      ARGENTINA       252

12.5.2.1  Increase in urbanization and demand for healthy food products                 252

12.5.3      REST OF SOUTH AMERICA           254

12.6         REST OF THE WORLD (ROW)      255

12.6.1      MIDDLE EAST   263

12.6.1.1  Greater spending capacity and higher consumption of RTD teas                 263

12.6.2      AFRICA 265

12.6.2.1  Rise in adoption of low-calorie consumable products    265

13            COMPETITIVE LANDSCAPE         267

13.1         OVERVIEW          267

13.2         KEY PLAYER STRATEGIES/RIGHT TO WIN            267

13.3         REVENUE ANALYSIS, 2021–2023  270

13.4         MARKET SHARE ANALYSIS, 2023                 271

13.4.1      MARKET RANKING ANALYSIS     272

13.5         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023                 274

13.5.1      STARS   274

13.5.2      EMERGING LEADERS     274

13.5.3      PERVASIVE PLAYERS      274

13.5.4      PARTICIPANTS 275

13.5.5      COMPANY FOOTPRINT: KEY PLAYERS, 2023         276

13.5.5.1  Company footprint               276

13.5.5.2  Region footprint   277

13.5.5.3  Type footprint       278

13.5.5.4  High-intensity sweetener source footprint       279

13.5.5.5  Application footprint            280

13.6         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023        281

13.6.1      PROGRESSIVE COMPANIES         281

13.6.2      RESPONSIVE COMPANIES            281

13.6.3      DYNAMIC COMPANIES  281

13.6.4      STARTING BLOCKS         281

13.6.5      COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023                 283

13.6.5.1  Detailed list of key startups/SMEs    283

13.6.5.2  Competitive benchmarking of startups/SMEs 284

13.7         COMPANY VALUATION AND FINANCIAL METRICS                 285

13.7.1      COMPANY VALUATION 285

13.7.2      FINANCIAL METRICS      285

13.8         BRAND/PRODUCT COMPARISON             286

13.9         COMPETITIVE SCENARIO AND TRENDS                287

13.9.1      PRODUCT LAUNCHES   287

13.9.2      DEALS  288

13.9.3      EXPANSIONS     292

14            COMPANY PROFILES      294

14.1         KEY PLAYERS     294

14.1.1      CARGILL, INCORPORATED          294

14.1.1.1  Business overview 294

14.1.1.2  Products/Solutions/Services offered 295

14.1.1.3  Recent developments           297

14.1.1.3.1                Deals      297

14.1.1.3.2                Expansions             298

14.1.1.4  MnM view              299

14.1.1.4.1                Key strengths        299

14.1.1.4.2                Strategic choices   299

14.1.1.4.3                Weaknesses and competitive threats 299

14.1.2      ADM      300

14.1.2.1  Business overview 300

14.1.2.2  Products/Solutions/Services offered 301

14.1.2.3  Recent developments           303

14.1.2.3.1                Deals      303

14.1.2.4  MnM view              303

14.1.2.4.1                Key strengths        303

14.1.2.4.2                Strategic choices   303

14.1.2.4.3                Weaknesses and competitive threats 303

14.1.3      INTERNATIONAL FLAVORS & FRAGRANCES INC                 304

14.1.3.1  Business overview 304

14.1.3.2  Products/Solutions/Services offered 305

14.1.3.3  Recent developments           306

14.1.3.3.1                Deals      306

14.1.3.4  MnM view              306

14.1.3.4.1                Key strengths        306

14.1.3.4.2                Strategic choices   306

14.1.3.4.3                Weaknesses and competitive threats 306

14.1.4      TATE & LYLE      307

14.1.4.1  Business overview 307

14.1.4.2  Products/Solutions/Services offered 308

14.1.4.3  Recent developments           309

14.1.4.3.1                Product launches  309

14.1.4.4  MnM view              310

14.1.4.4.1                Key strengths        310

14.1.4.4.2                Strategic choices   310

14.1.4.4.3                Weaknesses and competitive threats 310

14.1.5      INGREDION       311

14.1.5.1  Business overview 311

14.1.5.2  Products/Solutions/Services offered 312

14.1.5.3  Recent developments           313

14.1.5.3.1                Product launches  313

14.1.5.3.2                Deals      314

14.1.5.3.3                Expansions             316

14.1.5.4  MNM view             316

14.1.5.4.1                Key strengths        316

14.1.5.4.2                Strategic choices   316

14.1.5.4.3                Weaknesses and competitive threats 316

14.1.6      AJINOMOTO CO., INC.   317

14.1.6.1  Business overview 317

14.1.6.2  Products/Solutions/Services offered 318

14.1.6.3  Recent developments           319

14.1.6.4  MnM view              319

14.1.7      GLG LIFE TECH CORP    320

14.1.7.1  Business overview 320

14.1.7.2  Products/Solutions/Services offered 321

14.1.7.3  Recent developments           322

14.1.7.4  MnM view              322

14.1.8      CELANESE CORPORATION          323

14.1.8.1  Business overview 323

14.1.8.2  Products/Solutions/Services offered 324

14.1.8.3  Recent developments           325

14.1.8.3.1                Deals      325

14.1.8.4  MnM view              325

14.1.9      ROQUETTE FRÈRES        326

14.1.9.1  Business overview 326

14.1.9.2  Products/Solutions/Services offered 326

14.1.9.3  Recent developments           328

14.1.9.3.1                Deals      328

14.1.9.3.1                Expansions             329

14.1.9.4  MnM view              329

14.1.10   PCIPL    330

14.1.10.1                 Business overview 330

14.1.10.2                 Products/Solutions/Services offered 330

14.1.10.3                 Recent developments           331

14.1.10.4                 MnM view              331

14.1.11   MANE SA              332

14.1.11.1                 Business overview 332

14.1.11.2                 Products/Services/Solutions offered 332

14.1.11.3                 Recent developments           333

14.1.11.4                 MnM view              333

14.1.12   DÖHLER GMBH                 334

14.1.12.1                 Business overview 334

14.1.12.2                 Products/Services/Solutions offered 334

14.1.12.3                 Recent developments           335

14.1.12.3.1             Deals      335

14.1.12.4                 MnM view              335

14.1.13   MORITA KAGAKU KOGYO CO., LTD         336

14.1.13.1                 Business overview 336

14.1.13.2                 Products/Solutions/Services offered 336

14.1.13.3                 Recent developments           336

14.1.13.4                 MnM view              336

14.1.14   ZUCHEM              337

14.1.14.1                 Business overview 337

14.1.14.2                 Products/Services/Solutions offered 337

14.1.14.3                 Recent developments           337

14.1.14.4                 MnM view              338

14.1.15   VAN WANKUM INGREDIENTS    339

14.1.15.1                 Business overview 339

14.1.15.2                 Products offered   339

14.1.15.3                 Recent developments           340

14.1.15.4                 MnM view              340

14.2         OTHER PLAYERS/STARTUPS/SMES          341

14.2.1      TAG INGREDIENTS INDIA PVT. LTD.       341

14.2.1.1  Business overview 341

14.2.1.2  Products/Services/Solutions offered 341

14.2.1.3  Recent developments           342

14.2.1.4  MnM view              342

14.2.2      SWEETLY STEVIAUSA    343

14.2.2.1  Business overview 343

14.2.2.2  Products/Services/Solutions offered 343

14.2.2.3  Recent developments           343

14.2.2.4  MnM view              344

14.2.3      FOODCHEM INTERNATIONAL CORPORATION  345

14.2.3.1  Business overview 345

14.2.3.2  Products/Services/Solutions offered 345

14.2.3.3  Recent developments           346

14.2.3.4  MnM view              346

14.2.4      JK SUCRALOSE INC.         347

14.2.4.1  Business overview 347

14.2.4.2  Products/Services/Solutions offered 347

14.2.4.3  Recent developments           347

14.2.4.4  MnM view              347

14.2.5      THE REAL STEVIA COMPANY AB               348

14.2.5.1  Business overview 348

14.2.5.2  Products/Services/Solutions offered 348

14.2.5.3  Recent developments           349

14.2.5.4  MnM view              349

14.2.6      STEVIA HUB INDIA          350

14.2.7      PYURE BRANDS 351

14.2.8      XILINAT                352

14.2.9      SAVANNA INGREDIENTS              352

14.2.10   BONUMOSE, INC              353

15            ADJACENT & RELATED MARKETS             354

15.1         INTRODUCTION              354

15.2         STUDY LIMITATIONS    354

15.3         SWEETENERS MARKET  354

15.3.1      MARKET DEFINITION   354

15.3.2      MARKET OVERVIEW       355

15.4         LOW-INTENSITY SWEETENERS MARKET               356

15.4.1      MARKET DEFINITION   356

15.4.2      MARKET OVERVIEW       356

16            APPENDIX           357

16.1         DISCUSSION GUIDE        357

16.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                364

16.3         CUSTOMIZATION OPTIONS        366

16.4         RELATED REPORTS         366

16.5         AUTHOR DETAILS           367

LIST OF TABLES

TABLE 1                USD EXCHANGE RATES, 2020–2023            37

TABLE 2                SUGAR SUBSTITUTES MARKET SHARE SNAPSHOT, 2024 VS. 2029 (USD MILLION)             49

TABLE 3                CANADA: FOOD LABELING REGULATIONS                 66

TABLE 4                IMPORT SCENARIO FOR HS CODE 293214, BY COUNTRY, 2019–2023 (USD)        76

TABLE 5                EXPORT SCENARIO FOR HS CODE 293214, BY COUNTRY, 2019–2023 (USD)        77

TABLE 6                AVERAGE SELLING PRICE TREND OF LOW-INTENSITY SWEETENERS AMONG KEY PLAYERS, BY SUBTYPE, 2023 (USD/KG)  80

TABLE 7                AVERAGE SELLING PRICE TREND FOR SUGAR SUBSTITUTES, BY REGION,

2022–2029 (USD/KG)        80

TABLE 8                AVERAGE SELLING PRICE TREND FOR SUGAR SUBSTITUTES, BY TYPE,

2022–2029 (USD/KG)        81

TABLE 9                SUGAR SUBSTITUTES MARKET: ECOSYSTEM                 83

TABLE 10              LIST OF MAJOR PATENTS PERTAINING TO SUGAR SUBSTITUTES MARKET,

2014–2024              86

TABLE 11              SUGAR SUBSTITUTES MARKET: LIST OF KEY CONFERENCES & EVENTS,

2024–2025              88

TABLE 12              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             89

TABLE 13              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 90

TABLE 14              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 90

TABLE 15              SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             91

TABLE 16              ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 91

TABLE 17              PORTER’S FIVE FORCES’ IMPACT ON SUGAR SUBSTITUTES MARKET 108

TABLE 18              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS ACROSS KEY APPLICATIONS   111

TABLE 19              KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS   111

TABLE 20              SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)       117

TABLE 21              SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)       118

TABLE 22              SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)              118

TABLE 23              SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)              118

TABLE 24              HIGH-FRUCTOSE CORN SYRUP MARKET, BY REGION, 2020–2023 (USD MILLION)          119

TABLE 25              HIGH-FRUCTOSE CORN SYRUP MARKET, BY REGION, 2024–2029 (USD MILLION)          119

TABLE 26              HIGH-FRUCTOSE CORN SYRUP MARKET, BY REGION, 2020–2023 (KT)                 120

TABLE 27              HIGH-FRUCTOSE CORN SYRUP MARKET, BY REGION, 2024–2029 (KT)                 120

TABLE 28              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (USD MILLION)          121

TABLE 29              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (USD MILLION)          121

TABLE 30              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (KT)                 121

TABLE 31              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (KT)                 122

TABLE 32              NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            122

TABLE 33              NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            122

TABLE 34              NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (KT)   123

TABLE 35              NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (KT)   123

TABLE 36              STEVIA MARKET, BY REGION, 2020–2023 (USD MILLION)            125

TABLE 37              STEVIA MARKET, BY REGION, 2024–2029 (USD MILLION)            126

TABLE 38              MONK FRUIT SWEETENERS MARKET, BY REGION, 2020–2023 (USD MILLION)          126

TABLE 39              MONK FRUIT SWEETENERS MARKET, BY REGION, 2024–2029 (USD MILLION)          127

TABLE 40              OTHER NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY REGION,

2020–2023 (USD MILLION)            127

TABLE 41              OTHER NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY REGION,

2024–2029 (USD MILLION)            128

TABLE 42              ARTIFICIAL HIGH-INTENSITY SWEETENER MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            128

TABLE 43              ARTIFICIAL HIGH-INTENSITY SWEETENER MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            129

TABLE 44              ARTIFICIAL HIGH-INTENSITY SWEETENER MARKET, BY SUBTYPE, 2020–2023 (KT)   129

TABLE 45              ARTIFICIAL HIGH-INTENSITY SWEETENER MARKET, BY SUBTYPE, 2024–2029 (KT)   129

TABLE 46              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (USD MILLION)          130

TABLE 47              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (USD MILLION)          130

TABLE 48              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (KT)                 130

TABLE 49              HIGH-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (KT)                 131

TABLE 50              ASPARTAME MARKET, BY REGION, 2020–2023 (USD MILLION) 132

TABLE 51              ASPARTAME MARKET, BY REGION, 2024–2029 (USD MILLION) 132

TABLE 52              CYCLAMATE MARKET, BY REGION, 2020–2023 (USD MILLION) 133

TABLE 53              CYCLAMATE MARKET, BY REGION, 2024–2029 (USD MILLION) 133

TABLE 54              SUCRALOSE MARKET, BY REGION, 2020–2023 (USD MILLION) 134

TABLE 55              SUCRALOSE MARKET, BY REGION, 2024–2029 (USD MILLION) 134

TABLE 56              SACCHARIN MARKET, BY REGION, 2020–2023 (USD MILLION) 135

TABLE 57              SACCHARIN MARKET, BY REGION, 2024–2029 (USD MILLION) 135

TABLE 58              ACE-K MARKET, BY REGION, 2020–2023 (USD MILLION)            136

TABLE 59              ACE-K MARKET, BY REGION, 2024–2029 (USD MILLION)            136

TABLE 60              OTHER ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY REGION,

2020–2023 (USD MILLION)            137

TABLE 61              OTHER ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY REGION,

2024–2029 (USD MILLION)            137

TABLE 62              LOW-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (USD MILLION)          138

TABLE 63              LOW-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (USD MILLION)          138

TABLE 64              LOW-INTENSITY SWEETENERS MARKET, BY REGION, 2020–2023 (KT)                 138

TABLE 65              LOW-INTENSITY SWEETENERS MARKET, BY REGION, 2024–2029 (KT)                 139

TABLE 66              LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)       139

TABLE 67              LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)       139

TABLE 68              LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (KT)              140

TABLE 69              LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (KT)              140

TABLE 70              D-TAGATOSE MARKET, BY REGION, 2020–2023 (USD MILLION) 141

TABLE 71              D-TAGATOSE MARKET, BY REGION, 2024–2029 (USD MILLION) 141

TABLE 72              SORBITOL MARKET, BY REGION, 2020–2023 (USD MILLION)            142

TABLE 73              SORBITOL MARKET, BY REGION, 2024–2029 (USD MILLION)            142

TABLE 74              MALTITOL MARKET, BY REGION, 2020–2023 (USD MILLION) 143

TABLE 75              MALTITOL MARKET, BY REGION, 2024–2029 (USD MILLION) 143

TABLE 76              XYLITOL MARKET, BY REGION, 2020–2023 (USD MILLION)            144

TABLE 77              XYLITOL MARKET, BY REGION, 2024–2029 (USD MILLION)            144

TABLE 78              MANNITOL MARKET, BY REGION, 2020–2023 (USD MILLION) 145

TABLE 79              MANNITOL MARKET, BY REGION, 2024–2029 (USD MILLION) 145

TABLE 80              ERYTHRITOL MARKET, BY REGION, 2020–2023 (USD MILLION) 146

TABLE 81              ERYTHRITOL MARKET, BY REGION, 2024–2029 (USD MILLION) 146

TABLE 82              ALLULOSE MARKET, BY REGION, 2020–2023 (USD MILLION) 147

TABLE 83              ALLULOSE MARKET, BY REGION, 2024–2029 (USD MILLION) 147

TABLE 84             OTHER LOW-INTENSITY SWEETENERS MARKET, BY REGION,

2020–2023 (USD MILLION)            148

TABLE 85             OTHER LOW-INTENSITY SWEETENERS MARKET, BY REGION,

2024–2029 (USD MILLION)            148

TABLE 86              SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2020–2023 (USD MILLION)              151

TABLE 87              SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024–2029 (USD MILLION)              151

TABLE 88              SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY REGION,

2020–2023 (USD MILLION)            152

TABLE 89              SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY REGION,

2024–2029 (USD MILLION)            152

TABLE 90              SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY SUBAPPLICATION,

2020–2023 (USD MILLION)            153

TABLE 91              SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY SUBAPPLICATION,

2024–2029 (USD MILLION)            153

TABLE 92              SUGAR SUBSTITUTES MARKET IN CONFECTIONERY, BY REGION,

2020–2023 (USD MILLION)            154

TABLE 93              SUGAR SUBSTITUTES MARKET IN CONFECTIONERY, BY REGION,

2024–2029 (USD MILLION)            154

TABLE 94              SUGAR SUBSTITUTES MARKET IN BAKERY PRODUCTS, BY REGION,

2020–2023 (USD MILLION)            156

TABLE 95              SUGAR SUBSTITUTES MARKET IN BAKERY PRODUCTS, BY REGION,

2024–2029 (USD MILLION)            156

TABLE 96              SUGAR SUBSTITUTES MARKET IN DAIRY PRODUCTS, BY REGION,

2020–2023 (USD MILLION)            157

TABLE 97              SUGAR SUBSTITUTES MARKET IN DAIRY PRODUCTS, BY REGION,

2024–2029 (USD MILLION)            157

TABLE 98              SUGAR SUBSTITUTES MARKET IN TABLETOP SWEETENERS, BY REGION,

2020–2023 (USD MILLION)            158

TABLE 99              SUGAR SUBSTITUTES MARKET IN TABLETOP SWEETENERS, BY REGION,

2024–2029 (USD MILLION)            158

TABLE 100            SUGAR SUBSTITUTES MARKET IN SWEET SPREADS, BY REGION,

2020–2023 (USD MILLION)            159

TABLE 101            SUGAR SUBSTITUTES MARKET IN SWEET SPREADS, BY REGION,

2024–2029 (USD MILLION)            159

TABLE 102            SUGAR SUBSTITUTES MARKET IN OTHER FOOD APPLICATIONS, BY REGION,

2020–2023 (USD MILLION)            160

TABLE 103            SUGAR SUBSTITUTES MARKET IN OTHER FOOD APPLICATIONS, BY REGION,

2024–2029 (USD MILLION)            160

TABLE 104            SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION,

2020–2023 (USD MILLION)            161

TABLE 105            SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION,

2024–2029 (USD MILLION)            161

TABLE 106            SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY REGION,

2020–2023 (USD MILLION)            162

TABLE 107            SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY REGION,

2024–2029 (USD MILLION)            162

TABLE 108            SUGAR SUBSTITUTES MARKET IN CARBONATED DRINKS, BY REGION,

2020–2023 (USD MILLION)            163

TABLE 109            SUGAR SUBSTITUTES MARKET IN CARBONATED DRINKS, BY REGION,

2024–2029 (USD MILLION)            163

TABLE 110            SUGAR SUBSTITUTES MARKET IN FRUIT DRINKS & JUICES, BY REGION,

2020–2023 (USD MILLION)            164

TABLE 111            SUGAR SUBSTITUTES MARKET IN FRUIT DRINKS & JUICES, BY REGION,

2024–2029 (USD MILLION)            164

TABLE 112            SUGAR SUBSTITUTES MARKET IN POWDERED DRINKS, BY REGION,

2020–2023 (USD MILLION)            165

TABLE 113            SUGAR SUBSTITUTES MARKET IN POWDERED DRINKS, BY REGION,

2024–2029 (USD MILLION)            165

TABLE 114            SUGAR SUBSTITUTES MARKET IN ALCOHOLIC BEVERAGES, BY REGION,

2020–2023 (USD MILLION)            166

TABLE 115            SUGAR SUBSTITUTES MARKET IN ALCOHOLIC BEVERAGES, BY REGION,

2024–2029 (USD MILLION)            166

TABLE 116            SUGAR SUBSTITUTES MARKET IN FLAVORED ALCOHOLIC BEVERAGES, BY REGION, 2020–2023 (USD MILLION)                 167

TABLE 117            SUGAR SUBSTITUTES MARKET IN FLAVORED ALCOHOLIC BEVERAGES, BY REGION, 2024–2029 (USD MILLION)                 167

TABLE 118            SUGAR SUBSTITUTES MARKET IN PLANT-BASED BEVERAGES, BY REGION,

2020–2023 (USD MILLION)            168

TABLE 119            SUGAR SUBSTITUTES MARKET IN PLANT-BASED BEVERAGES, BY REGION,

2024–2029 (USD MILLION)            168

TABLE 120            SUGAR SUBSTITUTES MARKET IN OTHER BEVERAGE APPLICATIONS, BY REGION, 2020–2023 (USD MILLION)            169

TABLE 121            SUGAR SUBSTITUTES MARKET IN OTHER BEVERAGE APPLICATIONS, BY REGION, 2024–2029 (USD MILLION)            169

TABLE 122            SUGAR SUBSTITUTES MARKET IN HEALTH & PERSONAL CARE PRODUCTS,

BY REGION, 2020–2023 (USD MILLION)   170

TABLE 123            SUGAR SUBSTITUTES MARKET IN HEALTH & PERSONAL CARE PRODUCTS,

BY REGION, 2024–2029 (USD MILLION)   170

TABLE 124            SUGAR SUBSTITUTES MARKET IN PHARMACEUTICALS, BY REGION,

2020–2023 (USD MILLION)            171

TABLE 125            SUGAR SUBSTITUTES MARKET IN PHARMACEUTICALS, BY REGION,

2024–2029 (USD MILLION)            172

TABLE 126            SUGAR SUBSTITUTES MARKET IN OTHER APPLICATIONS, BY REGION,

2020–2023 (USD MILLION)            174

TABLE 127            SUGAR SUBSTITUTES MARKET IN OTHER APPLICATIONS, BY REGION,

2024–2029 (USD MILLION)            174

TABLE 128            SUGAR SUBSTITUTES MARKET, BY FORM, 2020–2023 (USD MILLION)       176

TABLE 129            SUGAR SUBSTITUTES MARKET, BY FORM, 2024–2029 (USD MILLION)       177

TABLE 130          DRY SUGAR SUBSTITUTES MARKET, BY REGION, 2020–2023 (USD MILLION)            177

TABLE 131          DRY SUGAR SUBSTITUTES MARKET, BY REGION, 2024–2029 (USD MILLION)            177

TABLE 132            DRY SUGAR SUBSTITUTES MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)       178

TABLE 133            DRY SUGAR SUBSTITUTES MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)       178

TABLE 134            LIQUID SUGAR SUBSTITUTES MARKET, BY REGION, 2020–2023 (USD MILLION)          179

TABLE 135            LIQUID SUGAR SUBSTITUTES MARKET, BY REGION, 2024–2029 (USD MILLION)          180

TABLE 136            LIQUID SUGAR SUBSTITUTES MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)       180

TABLE 137            LIQUID SUGAR SUBSTITUTES MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)       180

TABLE 138            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (USD MILLION)            183

TABLE 139            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (USD MILLION)            184

TABLE 140            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2020–2023 (KT)     184

TABLE 141            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2024–2029 (KT)     184

TABLE 142            ARTIFICIAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2020–2023 (USD MILLION)            185

TABLE 143            ARTIFICIAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2024–2029 (USD MILLION)            185

TABLE 144            ARTIFICIAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2020–2023 (KT)   186

TABLE 145            ARTIFICIAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2024–2029 (KT)   186

TABLE 146            NATURAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2020–2023 (USD MILLION)            187

TABLE 147            NATURAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2024–2029 (USD MILLION)            187

TABLE 148            NATURAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2020–2023 (KT)   187

TABLE 149            NATURAL HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY REGION,

2024–2029 (USD KT)         188

TABLE 150            SUGAR SUBSTITUTES MARKET, BY REGION, 2020–2023 (USD MILLION)            191

TABLE 151            SUGAR SUBSTITUTES MARKET, BY REGION, 2024–2029 (USD MILLION)            192

TABLE 152            SUGAR SUBSTITUTES MARKET, BY REGION, 2020–2023 (KT)   192

TABLE 153            SUGAR SUBSTITUTES MARKET, BY REGION, 2024–2029 (KT)   192

TABLE 154            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2020–2023 (USD MILLION)            194

TABLE 155            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            195

TABLE 156            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            195

TABLE 157            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            195

TABLE 158            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)            195

TABLE 159            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)            196

TABLE 160            NORTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2020–2023 (USD MILLION)                 196

TABLE 161            NORTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2024–2029 (USD MILLION)                 196

TABLE 162            NORTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2020–2023 (KT)        196

TABLE 163            NORTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2024–2029 (KT)        197

TABLE 164            NORTH AMERICA: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET,

BY SUBTYPE, 2020–2023 (USD MILLION) 197

TABLE 165            NORTH AMERICA: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET,

BY SUBTYPE, 2024–2029 (USD MILLION) 197

TABLE 166            NORTH AMERICA: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)                 198

TABLE 167            NORTH AMERICA: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)                 198

TABLE 168            NORTH AMERICA: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)          198

TABLE 169            NORTH AMERICA: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            199

TABLE 170            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            199

TABLE 171            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            199

TABLE 172            NORTH AMERICA: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               200

TABLE 173            NORTH AMERICA: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               200

TABLE 174            NORTH AMERICA: SUGAR SUBSTITUTES MARKET IN BEVERAGES,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               200

TABLE 175            NORTH AMERICA: SUGAR SUBSTITUTES MARKET IN BEVERAGES,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               201

TABLE 176            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY FORM,

2020–2023 (USD MILLION)            201

TABLE 177            NORTH AMERICA: SUGAR SUBSTITUTES MARKET, BY FORM,

2024–2029 (USD MILLION)            201

TABLE 178            US: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            202

TABLE 179            US: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            202

TABLE 180            US: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2020–2023 (USD MILLION)              202

TABLE 181            US: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024–2029 (USD MILLION)              203

TABLE 182            CANADA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                204

TABLE 183            CANADA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                204

TABLE 184            CANADA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            204

TABLE 185            CANADA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            204

TABLE 186            MEXICO: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                205

TABLE 187            MEXICO: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                205

TABLE 188            MEXICO: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            206

TABLE 189            MEXICO: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            206

TABLE 190            EUROPE: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2020–2023 (USD MILLION)            207

TABLE 191            EUROPE: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            207

TABLE 192            EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                207

TABLE 193            EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                208

TABLE 194            EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)      208

TABLE 195            EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)      208

TABLE 196            EUROPE: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (USD MILLION)            208

TABLE 197            EUROPE: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (USD MILLION)            209

TABLE 198            EUROPE: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (KT)   209

TABLE 199            EUROPE: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (KT)   209

TABLE 200            EUROPE: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            209

TABLE 201            EUROPE: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            210

TABLE 202            EUROPE: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            210

TABLE 203            EUROPE: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            210

TABLE 204            EUROPE: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            211

TABLE 205            EUROPE: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            211

TABLE 206            EUROPE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            212

TABLE 207            EUROPE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            212

TABLE 208            EUROPE: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               212

TABLE 209            EUROPE: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               213

TABLE 210            EUROPE: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION, 2020–2023 (USD MILLION)                 213

TABLE 211            EUROPE: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION, 2024–2029 (USD MILLION)                 214

TABLE 212            EUROPE: SUGAR SUBSTITUTES MARKET, BY FORM, 2020–2023 (USD MILLION)              214

TABLE 213            EUROPE: SUGAR SUBSTITUTES MARKET, BY FORM, 2024–2029 (USD MILLION)              214

TABLE 214            GERMANY: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                215

TABLE 215            GERMANY: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                215

TABLE 216            GERMANY: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            216

TABLE 217            GERMANY: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            216

TABLE 218            UK: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            217

TABLE 219            UK: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            217

TABLE 220            UK: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2020–2023 (USD MILLION)              217

TABLE 221            UK: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024–2029 (USD MILLION)              218

TABLE 222            FRANCE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                218

TABLE 223            FRANCE: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                219

TABLE 224            FRANCE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            219

TABLE 225            FRANCE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            219

TABLE 226            ITALY: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            220

TABLE 227            ITALY: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            220

TABLE 228            ITALY: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            220

TABLE 229            ITALY: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            221

TABLE 230            SPAIN: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            221

TABLE 231            SPAIN: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            222

TABLE 232            SPAIN: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            222

TABLE 233            SPAIN: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            222

TABLE 234            REST OF EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            223

TABLE 235            REST OF EUROPE: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            223

TABLE 236            REST OF EUROPE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            224

TABLE 237            REST OF EUROPE: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            224

TABLE 238            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2020–2023 (USD MILLION)            226

TABLE 239            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            226

TABLE 240            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)         226

TABLE 241            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)         226

TABLE 242            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)                227

TABLE 243            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)                227

TABLE 244            ASIA PACIFIC: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (USD MILLION)            227

TABLE 245            ASIA PACIFIC: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (USD MILLION)            227

TABLE 246            ASIA PACIFIC: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (KT)   228

TABLE 247            ASIA PACIFIC: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (KT)   228

TABLE 248            ASIA PACIFIC: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)                 228

TABLE 249            ASIA PACIFIC: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)                 229

TABLE 250            ASIA PACIFIC: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)                 229

TABLE 251            ASIA PACIFIC: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)                 229

TABLE 252            ASIA PACIFIC: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            230

TABLE 253            ASIA PACIFIC: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            230

TABLE 254            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            231

TABLE 255            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            231

TABLE 256            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               231

TABLE 257            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               232

TABLE 258            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION, 2020–2023 (USD MILLION)                 232

TABLE 259            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION, 2024–2029 (USD MILLION)                 233

TABLE 260            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY FORM,

2020–2023 (USD MILLION)            233

TABLE 261            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY FORM,

2024–2029 (USD MILLION)            233

TABLE 262          CHINA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            234

TABLE 263          CHINA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            234

TABLE 264            CHINA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            235

TABLE 265            CHINA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            235

TABLE 266            INDIA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            236

TABLE 267            INDIA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            236

TABLE 268            INDIA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            236

TABLE 269            INDIA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            237

TABLE 270            JAPAN: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            237

TABLE 271            JAPAN: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            238

TABLE 272            JAPAN: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            238

TABLE 273            JAPAN: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            238

TABLE 274            AUSTRALIA & NEW ZEALAND: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            239

TABLE 275            AUSTRALIA & NEW ZEALAND: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            240

TABLE 276            AUSTRALIA & NEW ZEALAND: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2020–2023 (USD MILLION)            240

TABLE 277            AUSTRALIA & NEW ZEALAND: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024–2029 (USD MILLION)            240

TABLE 278            REST OF ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            241

TABLE 279            REST OF ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            241

TABLE 280            REST OF ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            242

TABLE 281            REST OF ASIA PACIFIC: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            242

TABLE 282            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2020–2023 (USD MILLION)            243

TABLE 283            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            243

TABLE 284            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            243

TABLE 285            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            243

TABLE 286            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)            244

TABLE 287            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)            244

TABLE 288            SOUTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2020–2023 (USD MILLION)                 244

TABLE 289            SOUTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2024–2029 (USD MILLION)                 244

TABLE 290            SOUTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2020–2023 (KT)        245

TABLE 291            SOUTH AMERICA: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE, 2024–2029 (KT)        245

TABLE 292            SOUTH AMERICA: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET,

BY SUBTYPE, 2020–2023 (USD MILLION) 245

TABLE 293            SOUTH AMERICA: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET,

BY SUBTYPE, 2024–2029 (USD MILLION) 246

TABLE 294            SOUTH AMERICA: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2020–2023 (USD MILLION)                 246

TABLE 295            SOUTH AMERICA: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE, 2024–2029 (USD MILLION)                 246

TABLE 296            SOUTH AMERICA: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            247

TABLE 297            SOUTH AMERICA: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            247

TABLE 298            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            248

TABLE 299            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            248

TABLE 300            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               248

TABLE 301            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               249

TABLE 302            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET IN BEVERAGES,

BY SUBAPPLICATION, 2020–2023 (USD MILLION)               249

TABLE 303            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET IN BEVERAGES,

BY SUBAPPLICATION, 2024–2029 (USD MILLION)               250

TABLE 304            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY FORM,

2020–2023 (USD MILLION)            250

TABLE 305            SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY FORM,

2024–2029 (USD MILLION)            250

TABLE 306            BRAZIL: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                251

TABLE 307            BRAZIL: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                251

TABLE 308            BRAZIL: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            251

TABLE 309            BRAZIL: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            252

TABLE 310            ARGENTINA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                252

TABLE 311            ARGENTINA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                253

TABLE 312            ARGENTINA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            253

TABLE 313            ARGENTINA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            253

TABLE 314            REST OF SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            254

TABLE 315            REST OF SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            254

TABLE 316            REST OF SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2020–2023 (USD MILLION)            255

TABLE 317            REST OF SOUTH AMERICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024–2029 (USD MILLION)            255

TABLE 318            ROW: SUGAR SUBSTITUTES MARKET, BY REGION, 2020–2023 (USD MILLION)          256

TABLE 319            ROW: SUGAR SUBSTITUTES MARKET, BY REGION, 2024–2029 (USD MILLION)          256

TABLE 320            ROW: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)            256

TABLE 321            ROW: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)            256

TABLE 322            ROW: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (KT)   257

TABLE 323            ROW: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (KT)   257

TABLE 324            ROW: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (USD MILLION)            257

TABLE 325            ROW: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (USD MILLION)            257

TABLE 326            ROW: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2020–2023 (KT)   258

TABLE 327            ROW: HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024–2029 (KT)   258

TABLE 328            ROW: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            258

TABLE 329            ROW: ARTIFICIAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            259

TABLE 330            ROW: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            259

TABLE 331            ROW: NATURAL HIGH-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            259

TABLE 332            ROW: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2020–2023 (USD MILLION)            260

TABLE 333            ROW: LOW-INTENSITY SWEETENERS MARKET, BY SUBTYPE,

2024–2029 (USD MILLION)            260

TABLE 334            ROW: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            261

TABLE 335            ROW: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            261

TABLE 336            ROW: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY SUBAPPLICATION, 2020–2023 (USD MILLION)                 261

TABLE 337            ROW: SUGAR SUBSTITUTES MARKET IN FOOD PRODUCTS, BY SUBAPPLICATION, 2024–2029 (USD MILLION)                 262

TABLE 338            ROW: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION,

2020–2023 (USD MILLION)            262

TABLE 339            ROW: SUGAR SUBSTITUTES MARKET IN BEVERAGES, BY SUBAPPLICATION,

2024–2029 (USD MILLION)            263

TABLE 340            ROW: SUGAR SUBSTITUTES MARKET, BY FORM, 2020–2023 (USD MILLION)            263

TABLE 341            ROW: SUGAR SUBSTITUTES MARKET, BY FORM, 2024–2029 (USD MILLION)            263

TABLE 342            MIDDLE EAST: SUGAR SUBSTITUTES MARKET, BY TYPE,

2020–2023 (USD MILLION)            264

TABLE 343            MIDDLE EAST: SUGAR SUBSTITUTES MARKET, BY TYPE,

2024–2029 (USD MILLION)            264

TABLE 344            MIDDLE EAST: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            264

TABLE 345            MIDDLE EAST: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            265

TABLE 346            AFRICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2020–2023 (USD MILLION)                266

TABLE 347            AFRICA: SUGAR SUBSTITUTES MARKET, BY TYPE, 2024–2029 (USD MILLION)                266

TABLE 348            AFRICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2020–2023 (USD MILLION)            266

TABLE 349            AFRICA: SUGAR SUBSTITUTES MARKET, BY APPLICATION,

2024–2029 (USD MILLION)            266

TABLE 350            OVERVIEW OF STRATEGIES DEPLOYED BY KEY MARKET PLAYERS           267

TABLE 351            SUGAR SUBSTITUTES MARKET: DEGREE OF COMPETITION, 2023       272

TABLE 352            SUGAR SUBSTITUTES MARKET: REGION FOOTPRINT, 2023             277

TABLE 353            SUGAR SUBSTITUTES MARKET: TYPE FOOTPRINT, 2023             278

TABLE 354            SUGAR SUBSTITUTES MARKET: HIGH-INTENSITY SWEETENER

SOURCE FOOTPRINT, 2023           279

TABLE 355            SUGAR SUBSTITUTES MARKET: APPLICATION FOOTPRINT, 2023             280

TABLE 356            SUGAR SUBSTITUTES MARKET: DETAILED LIST OF KEY STARTUPS/SMES              283

TABLE 357            SUGAR SUBSTITUTES MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES   284

TABLE 358            SUGAR SUBSTITUTES MARKET: PRODUCT LAUNCHES, APRIL 2020–APRIL 2024          287

TABLE 359            SUGAR SUBSTITUTES MARKET: DEALS, APRIL 2020–JULY 2024  288

TABLE 360            SUGAR SUBSTITUTES MARKET: EXPANSIONS, FEBRUARY 2020–NOVEMBER 2023              292

TABLE 361            CARGILL, INCORPORATED: COMPANY OVERVIEW          294

TABLE 362            CARGILL, INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED    295

TABLE 363            CARGILL, INCORPORATED: DEALS          297

TABLE 364            CARGILL, INCORPORATED: EXPANSIONS                 298

TABLE 365            ADM: COMPANY OVERVIEW       300

TABLE 366            ADM: PRODUCTS/SOLUTIONS/SERVICES OFFERED             301

TABLE 367            ADM: DEALS      303

TABLE 368            INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY OVERVIEW        304

TABLE 369            INTERNATIONAL FLAVORS & FRAGRANCES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED         305

TABLE 370            INTERNATIONAL FLAVORS & FRAGRANCES INC.: DEALS        306

TABLE 371            TATE & LYLE: COMPANY OVERVIEW      307

TABLE 372            TATE & LYLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    308

TABLE 373            TATE & LYLE: PRODUCT LAUNCHES      309

TABLE 374            INGREDION: COMPANY OVERVIEW        311

TABLE 375            INGREDION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    312

TABLE 376            INGREDION: PRODUCT LAUNCHES         313

TABLE 377            INGREDION: DEALS        314

TABLE 378            INGREDION: EXPANSIONS           316

TABLE 379            AJINOMOTO CO., INC.: COMPANY OVERVIEW                 317

TABLE 380            AJINOMOTO CO., INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    318

TABLE 381            GLG LIFE TECH CORP: COMPANY OVERVIEW                 320

TABLE 382            GLG LIFE TECH CORP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    321

TABLE 383            CELANESE CORPORATION: COMPANY OVERVIEW          323

TABLE 384            CELANESE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    324

TABLE 385            CELANESE CORPORATION: DEALS          325

TABLE 386            ROQUETTE FRÈRES: COMPANY OVERVIEW                 326

TABLE 387            ROQUETTE FRÈRES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    326

TABLE 388            ROQUETTE FRÈRES: DEALS        328

TABLE 389            ROQUETTE FRÈRES: EXPANSIONS           329

TABLE 390            PCIPL: COMPANY OVERVIEW     330

TABLE 391            PCIPL: PRODUCTS/SOLUTIONS/SERVICES OFFERED             330

TABLE 392            MANE SA: COMPANY OVERVIEW               332

TABLE 393            MANE SA: PRODUCTS/SERVICES/SOLUTIONS OFFERED             332

TABLE 394            DÖHLER GMBH: COMPANY OVERVIEW 334

TABLE 395            DÖHLER GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED    334

TABLE 396            DÖHLER GMBH: DEALS 335

TABLE 397            MORITA KAGAKU KOGYO CO., LTD: COMPANY OVERVIEW          336

TABLE 398            MORITA KAGAKU KOGYO CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED    336

TABLE 399            ZUCHEM: COMPANY OVERVIEW               337

TABLE 400            ZUCHEM: PRODUCTS/SERVICES/SOLUTIONS OFFERED             337

TABLE 401            VAN WANKUM INGREDIENTS: COMPANY OVERVIEW          339

TABLE 402            VAN WANKUM INGREDIENTS: PRODUCTS OFFERED             339

TABLE 403            TAG INGREDIENTS INDIA PVT. LTD.: COMPANY OVERVIEW          341

TABLE 404            TAG INGREDIENTS INDIA PVT. LTD: PRODUCTS OFFERED             341

TABLE 405            SWEETLY STEVIAUSA: COMPANY OVERVIEW                 343

TABLE 406            SWEETLY STEVIAUSA: PRODUCTS OFFERED                 343

TABLE 407            FOODCHEM INTERNATIONAL CORPORATION: COMPANY OVERVIEW   345

TABLE 408            FOODCHEM INTERNATIONAL CORPORATION: PRODUCTS OFFERED    345

TABLE 409            JK SUCRALOSE INC.: COMPANY OVERVIEW                 347

TABLE 410            JK SUCRALOSE INC.: PRODUCTS OFFERED                 347

TABLE 411            THE REAL STEVIA COMPANY AB: COMPANY OVERVIEW          348

TABLE 412            THE REAL STEVIA COMPANY AB: PRODUCTS OFFERED             348

TABLE 413            STEVIA HUB INDIA: COMPANY OVERVIEW                 350

TABLE 414            PYURE BRANDS: COMPANY OVERVIEW 351

TABLE 415            XILINAT: COMPANY OVERVIEW                352

TABLE 416            SAVANNA INGREDIENTS: COMPANY OVERVIEW                 352

TABLE 417            BONUMOSE, INC: COMPANY OVERVIEW                 353

TABLE 418            ADJACENT MARKETS     354

TABLE 419            SWEETENERS MARKET, BY FORM, 2019–2022 (USD MILLION) 355

TABLE 420            SWEETENERS MARKET, BY FORM, 2023–2028 (USD MILLION) 355

TABLE 421            LOW-INTENSITY SWEETENERS MARKET, BY FORM, 2019–2026 (USD MILLION)              356

LIST OF FIGURES

FIGURE 1              SUGAR SUBSTITUTES MARKET SEGMENTATION              34

FIGURE 2              STUDY YEARS CONSIDERED       36

FIGURE 3              SUGAR SUBSTITUTES MARKET: RESEARCH DESIGN                39

FIGURE 4              BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION  41

FIGURE 5              KEY INDUSTRY INSIGHTS             42

FIGURE 6              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                43

FIGURE 7              MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE     44

FIGURE 8              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              45

FIGURE 9              DATA TRIANGULATION                46

FIGURE 10            SUGAR SUBSTITUTES MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)                50

FIGURE 11            SUGAR SUBSTITUTES MARKET, BY FORM, 2024 VS. 2029 (USD MILLION)                51

FIGURE 12            SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION)       51

FIGURE 13            HIGH-INTENSITY SUGAR SUBSTITUTES MARKET, BY SOURCE,

2024 VS. 2029 (USD MILLION)      52

FIGURE 14            SUGAR SUBSTITUTES MARKET SHARE AND GROWTH RATE (BY VALUE),

BY REGION, 2024               52

FIGURE 15            RISING HEALTH CONDITIONS AND AWARENESS TO PROPEL MARKET      54

FIGURE 16            US AND HIGH-FRUCTOSE CORN SYRUP TO ACCOUNT FOR LARGEST SEGMENTAL SHARE IN 2024    55

FIGURE 17            ARTIFICIAL HIGH-INTENSITY SUGAR SUBSTITUTES TO DOMINATE MARKET DURING FORECAST PERIOD                55

FIGURE 18            DRY SUGAR SUBSTITUTES TO LEAD MARKET OVER LIQUID FORMS DURING FORECAST PERIOD          56

FIGURE 19            BEVERAGES TO DOMINATE AMONG APPLICATIONS MARKET DURING FORECAST PERIOD    56

FIGURE 20            HIGH-FRUCTOSE CORN SYRUP TO LEAD MARKET DURING FORECAST PERIOD    57

FIGURE 21            US TO DOMINATE SUGAR SUBSTITUTES MARKET IN 2024                58

FIGURE 22            INDIA: FRP OF SUGARCANE PAYABLE BY SUGAR FACTORIES, 2010–2023 (INR/QUINTAL)  60

FIGURE 23            GLOBAL POPULATION GROWTH, 1950–2050 (BILLION)            61

FIGURE 24            GDP GROWTH, 2016–2022 (USD TRILLION)                 61

FIGURE 25            SUGAR SUBSTITUTES MARKET DYNAMICS                 62

FIGURE 26            ADOPTION OF GEN AI IN FOOD & BEVERAGE PRODUCTION PROCESS                68

FIGURE 27            SUGAR SUBSTITUTES MARKET: SUPPLY CHAIN ANALYSIS            73

FIGURE 28            SUGAR SUBSTITUTES MARKET: VALUE CHAIN ANALYSIS            74

FIGURE 29            IMPORT SCENARIO FOR HS CODE 293214, BY KEY COUNTRY, 2019–2023 (USD)                76

FIGURE 30            EXPORT SCENARIO FOR HS CODE 293214, BY KEY COUNTRY, 2019–2023 (USD)                77

FIGURE 31            AVERAGE SELLING PRICE TREND OF LOW-INTENSITY SWEETENERS AMONG KEY PLAYERS, BY SUBTYPE, 2023 (USD/KG)  79

FIGURE 32            AVERAGE SELLING PRICE TREND FOR SUGAR SUBSTITUTES, BY REGION,

2022–2029 (USD/KG)        80

FIGURE 33            AVERAGE SELLING PRICE TREND FOR SUGAR SUBSTITUTES, BY TYPE,

2022–2029 (USD/KG)        81

FIGURE 34            SUGAR SUBSTITUTES MARKET: ECOSYSTEM                 83

FIGURE 35            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   85

FIGURE 36            NUMBER OF PATENTS GRANTED FOR SUGAR SUBSTITUTES MARKET, 2014–2024            87

FIGURE 37            REGIONAL ANALYSIS OF PATENTS GRANTED FOR SUGAR SUBSTITUTES

MARKET, 2023    88

FIGURE 38            SUGAR SUBSTITUTES MARKET: PORTER’S FIVE FORCES ANALYSIS           108

FIGURE 39            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS ACROSS KEY APPLICATIONS   110

FIGURE 40            KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS   111

FIGURE 41            INVESTMENT AND FUNDING SCENARIO, 2020–2024 (USD MILLION)       113

FIGURE 42            PERCENTAGE SHARE OF MANUFACTURING TECHNOLOGIES               114

FIGURE 43            SUGAR SUBSTITUTES MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)                117

FIGURE 44            SUGAR SUBSTITUTES MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION)       150

FIGURE 45            SUGAR SUBSTITUTES MARKET, BY FORM, 2024 VS. 2029 (USD MILLION)                176

FIGURE 46            HIGH-INTENSITY ARTIFICIAL SWEETENERS SEGMENT TO

ACCOUNT FOR LARGER SHARE BY 2029 183

FIGURE 47            CHINA TO BE FASTEST-GROWING COUNTRY, 2024–2029              191

FIGURE 48            NORTH AMERICA: SUGAR SUBSTITUTES MARKET SNAPSHOT       194

FIGURE 49            ASIA PACIFIC: SUGAR SUBSTITUTES MARKET SNAPSHOT          225

FIGURE 50            REVENUE ANALYSIS FOR KEY COMPANIES, 2021–2023 (USD BILLION)        270

FIGURE 51            SHARE OF LEADING PLAYERS IN SUGAR SUBSTITUTES MARKET, 2023      271

FIGURE 52            RANKING OF TOP FIVE PLAYERS IN SUGAR SUBSTITUTES MARKET 272

FIGURE 53            SUGAR SUBSTITUTES MARKET: COMPANY EVALUATION MATRIX

(KEY PLAYERS), 2023       275

FIGURE 54            SUGAR SUBSTITUTES MARKET: COMPANY FOOTPRINT, 2023             276

FIGURE 55            SUGAR SUBSTITUTES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 282

FIGURE 56            COMPANY VALUATION FOR SEVEN MAJOR PLAYERS IN SUGAR SUBSTITUTES MARKET, 2023 (USD BILLION)                 285

FIGURE 57            EV/EBITDA OF MAJOR PLAYERS, 2023     285

FIGURE 58            SUGAR SUBSTITUTES MARKET: BRAND/PRODUCT COMPARISON             286

FIGURE 59            CARGILL, INCORPORATED: COMPANY SNAPSHOT          295

FIGURE 60            ADM: COMPANY SNAPSHOT       301

FIGURE 61            INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT        305

FIGURE 62            TATE & LYLE: COMPANY SNAPSHOT      308

FIGURE 63            INGREDION: COMPANY SNAPSHOT        312

FIGURE 64            AJINOMOTO CO., INC.: COMPANY SNAPSHOT                 318

FIGURE 65            GLG LIFE TECH CORP: COMPANY SNAPSHOT                 320

FIGURE 66            CELANESE CORPORATION: COMPANY SNAPSHOT          324