Artificial Sweetener Market: The revenue is expected to rise further to $13,421 million
The global artificial sweetener market is expected to grow at a CAGR of 4.2% during the forecast period 2017–2023 owing to demand from emerging economies, increasing awareness regarding health, and growing diabetic and obesity population. The market is consolidated and does not have many players. The market is dominated by few major key vendors. The market has been analyzed on the basis of types – aspartame, saccharin, acesulfame, sucralose, cylamate, and others. The report has also been categorized on the basis of applications – food & beverage, pharmaceuticals, direct sales, and others.
Increasing awareness about health including healthy eating habits, maintaining calorie intake, and others have led to an increase in the usage of artificial sweeteners instead of sugar. The artificial sweeteners have minimal or zero calories, which help maintain the calories in the body and also the body weight. Aspartame is one of the leading artificial sweeteners in the market and is also expected to grow at a CAGR of 4.7%.
Food & beverage has majorly contributed toward the artificial sweetener market with a share of 31.2%. Artificial sweetener is heavily consumed by this industry in various sodas, confectionery items, chocolate, candies, chewing gums, ice creams, and others. As the market for these sugar-free products rises, it perpetually helps the artificial sweetener market to grow along. The market for sugar-free food & beverage is growing and thus helping the artificial sweetener market. The artificial sweetener is much sweeter than sugar and has less calories, hence it is being used instead of general sugar.
Another major factor fostering the demand for artificial sweeteners is increasing rate of obesity and diabetes. Diabetics and obese people cannot consume sugar and hence are advised to have an artificial sweetener if needed. Direct sales of artificial sweetener go up due to this factor. These direct sales of sweeteners can be utilized in tea, coffee, baked goods, desserts, and others. It is advised to use artificial sweeteners that do not affect the blood sugar level.
The study produced by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each product and end-user application along with forecasting and trends analysis in the global artificial sweetener market. Major companies covered in the study include big multinational players such Cargill, Roquette, Hermes Sweetener, , AJINOMOTO and Ingredion, which are offering different artificial sweeteners.
– Vasundhara Singh,