The Global Artificial Sweetener Market is Expected to Witness a CAGR of 4.2% to Reach a Value of $13.42 Billion by 2023
Bangalore, India, August 16, 2018: With its recently published study “Artificial Sweetener Market: Global Driver, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts the global market for artificial sweetener will continue to grow. The growing disposable income among developing countries and increasing awareness about health factors & good eating habits are driving the market growth. Furthermore, an increase in the number of diabetic and obese people will positively impact the market during the forecast period. This will increase the artificial sweetener market revenue to $13.42 billion by 2023, growing at a CAGR of 4.2%.
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Artificial sweetener is used as an additive in food & beverages, pharmaceuticals, and in other various products to make the product taste sweet and have low calories. Increasing buying power, rising consumer awareness, and regulatory reforms along with technological advancements are empowering the artificial sweetener industry globally. The overall booming industry of sugar-free food & beverages has contributed majorly toward the artificial sweetener market growth. The prices of artificial sweetener are higher than general sugar, but still, the customers are inclining toward the usage of artificial sweetener due to its various unique properties, i.e., sweeter than sugar and minimal or zero calories.
“Artificial sweeteners are not new to the market. These are 10–300 times sweeter than the normal sugar. Many options are available in the market for more than a century. The low calorific value of artificial sweeteners has rejuvenated the market in light in increasing health consciousness of people across geographies. Further, the expiring patents are expected to boost the cheap availability fuelling the overall consumption growth. Asia shall witness the highest growth in the coming years, becoming the largest market by a big margin.” – Vasundhara Singh, Research Associate, Infoholic Research
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The key insights of the report are as follows:
- The global artificial sweetener market has been categorized on the basis of types:
- The study has been analyzed on the basis of application:
- Food & Beverages
- Direct Sales
- The report covers below-mentioned geographies:
- Asia Pacific
- North America
- Rest of the World