The global Artificial Sweeteners Market was worth USD 1.67 billion in 2014 and is expected to reach approximately USD 2.37 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.94% during the forecast period. High usage of sugar can build the danger of different diseases, for example, immune deficiency, diabetes, cancer, heart diseases, osteoporosis, and anemia. High intake of sugar additionally prompts irregularity in the insulin and glucose levels, which thusly prompts predominance of sicknesses, for example, obesity and type 2 diabetes. Growing awareness on keeping up health and prosperity, and alleviating the danger of lifestyle diseases has affected numerous buyers to follow diets that low in sugar. There has likewise been a stamped increment in the quantity of shoppers that have moved to artificial sweeteners. Makers haven't been negligent of these advancements in customer request, and are widening their arrangement of low-sugar products and artificial sweeteners.
On the basis of product type, the global artificial sweeteners market is segmented as Saccharin, Acesulfame k, Aspartame, and Neotame. Among these, the aspartame is anticipated to account for the highest revenue generation in the upcoming years. Pervasiveness of obesity, diabetes and related conditions will keep on fueling the requirement for artificial sweeteners in the food industry. Expanding utilization of artificial sweeteners, for example, Saccharin can affect the strength of the clients unfavorably. These elements are required to recoil the client based for artificial sweeteners in the worldwide market amid the gauge time frame.
End User Outlook and Trend Analysis
In terms of end user, the global market of artificial sweeteners is segmented as direct sales, pharmaceuticals, food and beverages, and other applications. Artificial sweeteners witness tremendous demand in the beverage sector for the manufacturing of range of soft drinks. Switching inclination and spending patterns of consumers towards products that are healthy will further lead to expanding sales for artificial sweeteners in the global market.
Application Outlook and Trend Analysis
On the basis of application, the global artificial sweeteners market is segmented as confectionery and chewing gums, sweet spreads, beverages, bakery goods, dairy products, and others. Developing preference for healthy beverage products, for example, natural fruit juices has brought about a drop in sales for soft drinks. Rising health issues among consumers has brought about a surge in demand for sugar-free, fat-free, and diabetes friendly products. Prevalence of numerous illnesses like diabetes and obesity is further anticipated to boost the development of the global artificial sweeteners market.
Regional Outlook and Trend Analysis
The usage of artificial sweeteners in developed nations like Europe and North America has declined, owing to the educed consumption of soft drinks. Nonetheless, regions like Asia-Pacific and the Middle East are foreseen to boost the market growth.
Competitive Insights
The leading players in the market are Roquette Frères, MacAndrews & Forbes, Ingredion Incorporated, Cargill Foods India, American Sugar Refining, Wilmar International, Tate & Lyle, Symrise, Archer Daniels Midland, Nestlé and Ajinomoto.
The Artificial Sweeteners market is segmented as follows-
By Product Type: Saccharin Neotame Aspartame Acesulfame k
By End User: Direct sales Pharmaceuticals Food and beverages
By Application: Sweet spread Beverages Bakery goods Confectionery and chewing gums Dairy products Others
By Region North America U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia Rest of South America Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA
Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
