The Latin America Sugar Substitutes Market was estimated at USD 0.55 Billion in 2024 and is projected to reach USD 0.80 Billion by 2032, at a CAGR of 4.85% during the forecast period from 2024 to 2032.
Food additives that resemble the taste of sugar are known as sugar substitutes. The food & beverage industry is increasingly replacing sugar or corn syrup with other sugar substitutes in a range of products traditionally containing sugar.
The market for sugar substitutes is mainly increasing due to rise in health problems related to sugar consumption, increasing awareness and preference for low-caloric food and beverage products, and increase in population and disposable income.
But, the market growth can be constrained due to stringent regulatory framework regarding consumption of sugar substitutes which is triggering health problems.
High-intensity sweeteners account for a highest market share and is expected to grow at a CAGR. Its attributes such as cost reduction and appropriate blending with food & beverages to enhance the taste are anticipated to propel the demand in near future. Food segment has the fastest growth, owing to increasing awareness and changing consumer patterns for low-calorie food products.
The market in Latin America is proceeding with high CAGR due to increasing penetration of globally acclaimed companies to the untapped markets of this region.
Major Key Players in the Latin America Sugar Substitutes Market are Cargill Incorporated, Tate & Lyle PLC, E. I. du Pont de Nemours and Company, Roquette Freres S.A, PureCircle Ltd, Ajinomoto Co. Inc, Archer Daniels Midland Company, MacAndrews & Forbes Incorporated, Ingredion Incorporation, and JK Sucralose Incorporation
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