The global sugar substitutes market size is expected to reach USD 10.27 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period. In 2018, the market value stood at USD 6.35 billion. Increased customer awareness of health issues would drive the demand for healthy food options, shares Fortune Business Insights™ in its report, titled “Sugar Substitutes Market Size, Share and Global Trend By Product Type (Low-Intensity Sweeteners, High-Intensity Sweeteners, High Fructose Corn Syrup), End Use (Food & Beverage Manufacturers, Pharmaceuticals, Cosmetics & Personal Care) & Geography Forecast till 2026”.

The market is primarily expanding as people become more conscious of the adverse health effects of synthesis sugar, which contribute to obesity and diabetes. Sugar replacements such as stevia, aspartame, sorbitol, and D-tagatose, on the other hand, do not raise blood sugar levels immediately, contain little to no calories, and do not cause tooth decay or cavities. As a result, a growing prevalence of diabetes and improving customer health-consciousness are the primary drivers of this business. Furthermore, with the help of government agencies and other governmental bodies, the public is being nudged to use sugar substitutes to reduce sugar intake due to the harmful effects of refined sugar.

COVID-19 Impact:

The unpredictable circumstances created by COVID-19 pandemic circumstances around the world have had a significant effect on the sugar substitutes market growth. COVID-19 has severely impacted finished product supply chains as well as raw material ingredients. Sugar alternatives provided by many prominent players in different countries to end-users worldwide, so the market is expected to face supply constraints. On the other hand, regional consumption is likely to increase as consumers are increasingly focusing on weight management and adherence to various diets to preserve good health.

Report Highlights:

The report offers comprehensive analyses of companies that are redefining the dynamics of this market. In addition to that, it provides an accurate assessment of the market by highlighting data on multiple aspects related to growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and providing qualitative insights.

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Drivers & Restraints:

Rising Consumer Demand for Low-Calorie Beverages Choices to Fuel Market Growth

The rising demand for zero-calorie or low-calorie foods and beverages, combined with increased consumer knowledge of sugar substitutes, is one of the leading factors driving this market's growth. Sugar replacements are commonly used in beverages, ice creams, powdered drink mixes, puddings, sauces, jellies, candies, dairy products, and other refined foods. Consumers are more health-conscious these days, and they choose to eat a balanced diet. Table sugar, for instance, which is high in calories, is increasingly being replaced by natural sugar alternatives derived from ingredients such as honey and maple syrup in the food and beverage industry.

Sugar substitutes are also being used to replace corn syrup and refined sugar in diverse food applications such as cakes, canned foods, and jams. For example, xylitol is a sugar alcohol that has a similar sweetness to sugar. It comes from corn or birch wood and can be used with a variety of fruits and vegetables. The absence of fructose, the key ingredient responsible for the majority of sugar's negative effects, renders xylitol a promising sugar replacement, including improved dental health.

Segments:

Based on type, the market is segmented into aspartame, acesulfame potassium, saccharin, sucralose, stevia, sugar alcohols, and others. Based on application, the market is categorized into food & beverages, pharmaceuticals, and personal care, and cosmetics. By geography, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights:

Asia Pacific to Emerge as the Most Rapidly-Growing Market for Sugar Substitutes

The Asia Pacific region is anticipated to develop at the highest pace and lead the sugar substitutes market share. Customers' lifestyles are speedily changing in this region and they are becoming more health-conscious, thus boosting the regional market for natural sweetening products. This region is also undergoing significant changes in terms of diet diversification and rapid urbanization. Furthermore, an increase in consumer understanding of health issues, along with improvising disposable incomes, has led to a shift in consumer preference towards low-sugar, high-energy diets.

The demand for sugar substitutes is expected to surge across North America. The involvement of major players in the region and a rise in the consumption of substitutes of refined sugar due to increased knowledge of the ill-effects of sugar are positively influencing the regional market. In 2018, the region’s market size stood at USD 2.39 billion.

Competitive Landscape:

Manufacturers to Increase R&D Investments to Produce Newer and Better Offerings

Manufacturers are steadily investing in the research and development of new sugar substitutes to achieve a competitive advantage over their rivals. Many foods and beverage companies are substituting natural sugars for normal sugars to reduce the calorie content in their finished products.

Key Industry Developments:

July 2020: Tate & Lyle introduced the SWEETENER-VANTAGE Expert system, a new line of sweetener solution design tools as well as an education program for making sugar-free foods and beverages with low-calorie sweeteners.

June 2019: Pioneer Foods and Deborah Good formed a joint venture to launch Freesweet, a natural-based sweetener. The novel product is made up of erythritol, xylitol, and inulin, as well as vanilla flavoring and Himalayan salt.

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The global agricultural adjuvants market manufacturers is gaining momentum from the rising adoption of protective crop cultivation measures. According to a report, published by Fortune Business Insights, titled, “AGRICULTURAL ADJUVANTS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” the increasing demand for crop protection chemicals is driving the market. Moreover, the global market is anticipated to rise at a CAGR of 5.77% between 2015 and 2026. In 2015, the market was valued at US$ 2.893 Bn and the report suggests that the global market is likely to reach US$ 4.55 Bn by 2026.

North America and Europe Cover the Maximum Share in the Market

The two largest markets for agricultural adjuvants are in North America and Europe. These two regions account for the maximum share in the global market. Governments in these two regions have formulated strict regulations and guidelines on use of crop protection chemicals and to protect the environment. This, in turn, will help to protect the environment from hazardous chemicals, in turn driving the market. Activator adjuvants are increasingly penetrating in North America and Europe. This, coupled with the recent introduction of cost-effective and novel products, is expected to create growth opportunities for the market in the forecast years. Growing awareness about modern agricultural procedures, especially in North America is enabling growth in the market.

Other regions such as Asia Pacific and South America are expected to register strong growth potential in the forecast horizon. Rising use of crop protection chemicals is the chief factors driving the market in these regions. Crop farmers and farmers are becoming more aware of the benefits offered by using agricultural chemical adjuvants. This is further expected to spur growth in the market and increase demand for adjuvants with spray chemicals in these two regions.

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Adjuvants Help to Improve the Agrochemical Efficiency, thus Promoting Sustainability

Agricultural adjuvant chemicals are added to pesticides by users with an aim to enhance pesticide efficiency, as per the U.S. Environmental Protection Agency (EPA). The growing importance and need for precision farming is acting as a potential growth enabler to the market. With precision farming, farmers can use agricultural adjuvants to implement agrochemical applications. Use of surfactants, emulsifiers, and oils will help in the effective use of crop protection chemicals, which is expected to push the market’s growth. Recent technological improvements in cultivation crops will aid the expansion of the overall market. Furthermore, farmers around the world have become well aware of advanced farming techniques to protect their crops and enhance crop yield. This is expected to augment demand for agricultural adjuvants over the years to come.

Rising population is compelling farmers and crop producers to use adjuvants and pesticides. As per the UN Department of Economic and Social Affairs, the global population is estimated to reach approx. 9.8 billion by 2050 from 7.6 billion in the year 2017. This exponential rise in population will fuel demand for crops. This, coupled with the rising focus towards sustainable agriculture, will contribute to the expansion of the agricultural adjuvants market.

Product Innovations to Push the Market Growth

In July 2018, Sapec Agro Business acquires SDP with an aim to enter the adjuvant sector. The company further plans to strengthen its position especially in specialty crop nutrition across various markets. In August 2018, Brandt announced the launch of an innovative adjuvant called TriTek. This insecticide adhesive will provide additional nutrients and strengthen to plants.

Some of the companies that are currently leading the global agricultural adjuvants market are Solvay, Evonik, BASF, Clariant, Croda International, DowDuPont, and AkzoNobel. Several new companies are planning to foray into the market, which will intensify the competition.

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The global fungicides market size was USD 17.71 billion in 2020. The market is projected to grow from USD 18.43 billion in 2021 to USD 25.81 billion by 2028, exhibiting a CAGR of 4.93% during the forecast period (2021-2028). This information is provided by Fortune Business Insights™, in its report, titled, “Fungicides Market, 2021-2028.” According to our analysts, the rising resistance to the products has driven the necessity to present novel products that are likely to augment the implementation of fungicidal crop safety products.

COVID-19 Impact

Growing Demand & Supply Hindrance of Fungicide Products amid COVID-19 to Restrict Growth

The advent of COVID-19 pandemic has brought the production procedures of several industries to a dead end. Despite all the moderations in the lockdown guidelines, specific standards, such as social distancing and declination of workforce are compulsory to implement.

The commotion instigated by the COVID-19 pandemic in the movement of crop protection products, either from local or international providers to the farm level, has at present led to deteriorated productions.

List of Key Players Covered in this Market Report

Bayer AG (Leverkusen, Germany)
BASF SE (Ludwigshafen, Germany)
Syngenta AG (Basel, Switzerland)
Corteva, Inc. (Delaware, U.S.)
FMC Corporation (Pennsylvania, U.S.)
Sumitomo Chemicals (Tokyo, Japan)
UPL Ltd. (Mumbai, India)
Nufarm (Melbourne, Australia)
ADAMA Agricultural Solutions Ltd. (Ashdod City, Israel)
Isagro SpA (Milan, Italy)
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Report Coverage

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data utilized to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.

Segmentation

On the basis of type, the market can be divided into chemical & biological. Chemical segment to emerge as a dominant segment owing to their high usage in developing nations.

On the basis of crop type, the global market is segregated into cereals, oilseeds & pulses, fruits & vegetables, & others

In terms of application method, the market is divided into foliar treatment, chemigation, seed treatments, & others

Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, & Middle East and Africa.

Drivers & Restraints

Outbreak of Numerous Sickness Conditions to Elevate Demand for Products

Climate change is a prime factor of worry for agricultural production across the globe. A modification in the climatic aspects has a substantial influence on crop production and the crops are vulnerable to ailments and pests. This, in turn, impacts crop health and triggers abnormalities in farming methods. Consequently, this is anticipated to bolster the fungicides market growth during the forecast period.

Regional Analysis

Asia Pacific to Lead Market Growth due to Expanding Agricultural Sector

Asia Pacific presently holds the largest fungicides market share and is projected to maintain its position throughout the forecast period. The rising agriculture industry, surging rice cultivation, and the increasing post-harvest damages are the primary aspects fueling the market in this region.

The U.S. is the major market in the North American region and is fueled by the growing launch of fungicides products and increasing struggle against active ingredients.

The European market will display significant demand in terms of the climatic fluctuations that are resulting in the commencement of several diseases.

Competitive Landscape

Key Players Focus on Launching New Products & Acquiring Other Companies to Surge Sales

The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to boost the brand value among users. Another effective strategy is intermittently launching innovative products with comprehensive study of the market and its target audience.

The market comprises many companies that are regularly involving in research and development happenings to present groundbreaking fungicides. Few of them are also measuring the collaborations and procurement strategies to reinforce their position in the market.

Industry Development

February 2020: BASF unveiled, Revysol, which is its novel fungicide, in the Irish market. This product can be utilized on wheat as well as on barley and has commanding edition to disease transformations

The U.S. cheese market size is anticipated to hit USD 55.95 billion by 2029 and exhibit a CAGR of 4.64% during the forecast period. The evolving dietary consumption patterns across developing and developed countries due to improving income levels and urbanization are anticipated to amplify the demand for cheese, thereby boosting the market’s growth. Fortune Business InsightsTM has presented this information in its report titled, “U.S. Cheese Market, 2022-2029”. The market size stood at USD 38.98 billion in 2021 and USD 40.73 billion in 2022. Furthermore, the rising consumer demand for convenience and nutritious food products is projected to bolster the market growth.

COVID-19 Impact-

The COVID-19 pandemic inflicted serious supply chain disruptions and caused hindrances in raw material procurement. This caused a surge in shipping costs and costlier labor. However, the stockpiling trends observed during the initial days of the pandemic gave significant traction to the market. The demand for cheese products rose as home-cooking picked a major boost amid the pandemic. The market is witnessing uncertainty due to the unanticipated coronavirus waves that influence the industry but is projected to witness swift expansion post-pandemic.

List of Key U.S. Cheese Market Players-

Lactalis International (France)
The Kraft Heinz Company (U.S.)
Glanbia Plc (Ireland)
Arla Foods amba (Denmark)
Dairy Farmers of America, Inc. (U.S.)
Saputo, Inc. (Canada)
Land O’ Lakes (U.S.)
Hilmar Cheese Company, Inc. (U.S.)
Royal FrieslandCampina N.V. (Netherlands)
Fonterra Co-operative Group Limited (New Zealand)
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Segmentation-
On the basis of type, the market is bifurcated into processed and natural cheese. On the basis of form, the market is divided into spreadable, block, and others. On the basis of product type, the market is classified into Feta, Munster, Ricotta, Parmesan/Parmigiano-Reggiano, Stilton, Roquefort, Mozzarella, Cheddar, and others.

Report Coverage-

It highlights comprehensive information on the latest industry developments.
It includes an assessment of the COVID-19 pandemic’s impact on the market.
It incorporates Porters’ Five Forces Analysis for precise market prediction.
It profiles the various key players operating in the market.
It highlights the various restraints and drivers of the market’s growth.
Report Scope & Segmentation

Drivers & Restraints-

Evolving Consumer Dietary Preference to Fuel Market Growth

Cheese is widely utilized as an ingredient in various food products, including pizza, sandwiches, and others. The growing popularity of these food products has propelled the demand for cheese in the U.S. The dietary consumption patterns across developing and developed countries are evolving due to rising disposable income levels and urbanization. The growing trend of incorporating natural and organic food products is expected to boost the demand for chemical-free cheese products. These factors are anticipated to amplify the demand for cheese, thereby boosting the U.S. cheese market growth.
However, health problems caused by overconsumption of cheese may restrain the market’s expansion during the forecast period.

Competitive Landscape-

Major Players Launch New Offerings to Garner Higher Sales

The fairly fragmented U.S. cheese market comprises minor and major cheese companies. The cutthroat competition has increased the acquisitions of smaller firms in the past recent years. The major market players possess robust distribution networks and focus on the launch of innovative and unique cheese products to garner growth and enlarge their geographical outreach. Additionally, many players are heavily investing in product line expansions to bolster their sales and revenues. For instance, In May 2021, Laura Kelly, Kansas Governor, and Hilmar Cheese Company Inc. made an announcement about constructing a new avant-garde whey protein and cheese processing plant in Dodge City, Kansas.

Key Industry Development-

October 2020: MWC, the joint venture between Dairy Farmers of America Inc., Select Milk Producers Inc., and Glanbia Nutritionals, became operational after obtaining milk from local farmers.

The global soup market Size reports further observe that the market was worth $16.12 billion in 2019. Soup is a type of liquid food that is typically served warm or hot that includes combination of several vegetables or meat along with added water. It is believed that this liquid food is one of the oldest cooking food products. The oldest soup dates back to over 20,000 BC and since then has evolved in terms of ingredients and taste. The global soup market size is expected to foresee significant growth by exhibiting a CAGR of 2.79% between 2020 and 2027. Factors such as increasing demand for convenience food products and rapid urbanization is anticipated to propel the market to reach $21.0 billion by 2027

Furthermore, it is savored during the frosty winter days as it provides warmth along with health benefits. A warm vegetable broth brings in refreshing experience at any given time of the day. Moreover, it can be prepared quickly, does not require long preparation hours, and thereby satisfies the hunger pangs instantly.10 Companies Operating in the Global Soup Market:

The Campbell Soup Company
Nestlé S.A
Baxters Food Group Limited
General Mills, Inc
Conagra Brands, Inc.
Premier Foods Group Limited
The Kraft Heinz Company
Hindustan Unilever Limited
Ottogi Co., Ltd
Associated British Foods plc

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Segmentation:

Instant Soup that Held 36.78% Market Share to Exhibit Exponential Growth

The segment Instant Soup (By Type) is likely to witness massive market in the forthcoming years. Additionally, it held a market share of about 36.78% in 2019 and is expected to grow gradually owing to increasing preference for ready-to-eat snack among consumers.

On the other hand, canned soup is anticipated to hold the second-most leading share for the market backed by large-scale penetration of the product in developed regions. For instance, countries such as the U.S. and GermBrowse In-depth Summary of This Research Insight:any usually prefer canned soups to chilled and dehydrated soups.

Drivers and Restraints:

Increasing Consumption of Convenience Foods to Aid Growth

Increasing density of population and high disposable income is driving the demand for convenience food products across the globe. The people owing to hectic work life prefer several food products that are ready-to-eat and can be consumed instantly. Additionally, increasing number of women working population is anticipated to bolster the growth of the market in the forthcoming years.

Furthermore, the manufacturers are innovating their products to cater to the increasing demand of the consumers. Moreover, growing demand for packaged food products among developed and developing economies will bode well for the growth of the market. For instance, according to the Canada Agri-food report, China registered a total sales value of USD 272, 741 Million in 2019 and is further anticipated to grow at a rate of 7%.

Regional Analysis:

Large Consumer Base in Europe to Promote Growth

Among the regions, Europe is expected to remain at the forefront and register highest global soup market revenue during the projected horizon. In addition to this, Europe was worth USD 6.07 Billion in 2019 and is likely to grow significantly. This is ascribable to factors such as presence of large consumer base and high demand for processed foods in the region. North America, on the other hand, is anticipated to be the second-most leading region in the forthcoming years. This is attributable to factors such as large consumer base that prefers instant food products.

Competitive Landscape:

Ritzy West End Introducing a $15 Takeaway Package to Stimulate Growth

In May 2020, Ritzy West End’s Chef Ris Lacoste announced its $15 care packages that is available for delivery and takeaway in D.C. amid the widespread effects of novel coronavirus.

In times of chaos and hardship, the West End restaurant is offering its care packages that include a salad of the week, fresh baked bread, and pint-sized soups without charging any delivery fees. Like Ritzy’s, there are several others who are helping the cause to uplift the people who are suffering from devastating effects. Furthermore, adoption of strategies such as novel product launch, collaboration, and merger and acquisition by the companies will positively affect the growth of the market between 2020 and 2027.

Key Industry Development:

January 2020: Clarity Food Ventures LLC introduced its new range of refrigerated soupy kits, Soup Explorers. According to the company, the food product involves less preparation time and includes several new flavors such as Vietnamese Vegetable Pho, American Chicken Noodle, and Moroccan Chilled Cucumber, among others. The introduction of the product is likely to cement its position in the global marketplace.