Sugar-Free Food and Beverage Market:
Growth opportunities in the sugar-free food and beverage market look promising over the next six years. This is mainly due to the rising prevalence of diabetes and overweight, the cost-cutting benefits of using sugar substitutes, and the augmenting demand for low-calorie drinks.
Sugar-Free Food and Beverage Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
With the growing incidences of obesity and diabetes, consumers are increasingly looking for sugar-free options. This accounts to be the most prominent driver to accelerate the sugar-free beverage and food market growth. In accordance with the data collected by IDF, the proportion of individuals suffering from type-2 diabetes has significantly increased. For example, approximately 79 % of the grown-up population living across lower- or middle-income nations are diabetic, and nearly one out of every five people above the age of 65 years old have diabetes. As per the American Heart Association, men are advised to consume at most nine teaspoons of added sugar in a day, whereas women should have a maximum of 6 teaspoons of sugar per day.
The augmenting demand for low-calorie drinks along with the cost-reducing benefits of sugar alternatives will further strengthen the sugar-free beverage and food market share. The low-calorie sweeteners help the consumers in weight management as they reduce the overall calorie intake and allow them to lose weight fast. Moreover, the widespread outbreak of coronavirus has persuaded people to emphasize their diet patterns to improve their immunity, which has surged the market demand.
Distribution Channel Segment Drivers
Based on the distribution channel, supermarkets/hypermarkets are predicted to witness a faster CAGR during the forecast period. This is primarily because of their ability to proffer a wide variety of product brands under one roof. Also, several discounted offers and easy payment modes allure the consumers towards these markets.
Regional Drivers
Based on the regional coverage, North America is expected to dominate the market over the forecast period. The rising consciousness towards various diseases such as diabetes, obesity, and other cardiovascular diseases is propelling the market growth. According to IDF, North America & the Caribbean recorded about 48 million cases of diabetes in 2019, which is likely to touch 56 million by 2030 and 63 million by 2045. Moreover, the increasing propensity of individuals towards a healthy and fit lifestyle encourages them to choose sugar-free products, which is raising the market growth.
Sugar-Free Food and Beverage Market’s leading Manufacturers:
- Unilever
- Conagra Foodservice, Inc.
- The Coca-Cola Company
- Kellogg’s
- Mars, Incorporated
- Hershey Company
- Mondelez International Inc.
- The Kraft Heinz Company
- PepsiCo, Inc.
- Nestlé S.A.
Sugar-Free Food and Beverage Market Segmentation:
Segmentation by Product Type
- Beverage
- Dairy
- Confectionery
- Bakery
- Others
Segmentation by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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