The sugar substitutes market is predicted to reach USD 24.3 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. By 2023, the market is expected to be worth USD 18.8 billion.

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Key players in the sugar substitutes market include:

1. International Flavors & Fragrances Inc. (IFF), US: IFF is a major producer and distributor of flavors, fragrances, and cosmetic ingredients. They offer a comprehensive range of low-calorie sweeteners derived from plants, providing a healthy and sustainable alternative to sugar. In February 2021, IFF merged with DuPont’s Nutrition & Biosciences (N&B) business, expanding its capabilities to meet the demand for natural, healthier, and “better for you” products.
   
2. ADM, US: ADM is a prominent player in the manufacturing and marketing of food and industrial ingredients. They have a diverse product portfolio and a global presence, serving customers in 122 countries across 57 sites worldwide. ADM has pursued both organic and inorganic growth strategies and continually invests in expanding its offerings.
   
3. Tate & Lyle Plc, UK: Tate & Lyle is a UK-based company specializing in food and industrial ingredients. They operate globally and offer a wide range of products to various industries. Tate & Lyle has made strategic investments, including the launch of ERYTESSE, a zero-calorie sweetener with 70% of the sweetness of sucrose, in November 2022. They have also expanded their presence through acquisitions and expansions, solidifying their position in the sugar substitutes market.
   
4. Cargill, Incorporated, US: Cargill is a global leader in various industries, including food, agriculture, and industrial products. They have a significant presence in the sugar substitutes market and have implemented diverse strategies to maintain their market position.
   
5. Ingredion, US: Ingredion is actively involved in the development and distribution of various food ingredients. They have formed strategic partnerships, such as the consortium with Cosun Beet Company, Matsutani Chemical Factory, and Samyang Corporation, to introduce allulose into the EU and UK markets.
   
6. Roquette Frères, France: Roquette Frères is a major player in the sugar substitutes market, contributing to the development of healthier food and beverage products.
   
7. Ajinomoto Co. Inc, Japan: Ajinomoto is known for its contributions to the sugar substitutes market and its dedication to providing healthier alternatives to sugar.
   
8. Purecircle, US: Purecircle is actively involved in the sugar substitutes market, offering solutions for reduced-sugar products.
   
9. Macandrews & Forbes Holdings Incorporated, US: Macandrews & Forbes Holdings has made significant contributions to the market through its subsidiaries and investments.
10. JK Sucralose Inc., China: JK Sucralose is known for its role in the sugar substitutes market and its offerings in the global arena.

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Strategic Initiatives

These leading players have adopted various strategic initiatives, including new product launches, mergers, partnerships, and expansions, to advance their positions in the sugar substitutes market. For instance:

• Ingredion collaborated with other companies to introduce allulose into the EU and UK markets, promoting its nutritional labeling as a carbohydrate.
• Tate & Lyle launched the VANTAGE sweetener solution design tools, an innovative set of tools and an education program to create sugar-reduced food and beverages using low-calorie sweeteners.

These strategies demonstrate their commitment to meeting consumer demands for healthier and more sustainable sugar alternatives.