Prevalence of various disorders such as obesity and diabetes has led to surge in demand for food products with low sugar content. In addition, growing need for weight management is projected to impact the global market. Future Market Insights states that the global market for artificial sweeteners is projected to reflect a CAGR of 4.7% over the forecast period, 2017-2026.
Factors Fuelling Growth of the Global Market Growth of the global artificial sweeteners market are mainly bound by various macro-economic and micro-economic factors. Food and beverage manufacturers are increasingly focusing on offering food products with low sugar content. In addition, the consumption and spending patterns of the customers are projected to reflect the demand for the artificial sweeteners globally. As customers are becoming more aware about the health benefitting food products, the leading food and beverage companies are concentrating on producing fat-free and diabetic friendly food products to expand their customer base.
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Sales of artificial sweeteners is projected to remain concentrated in the beverage industry. In order to cater to the increased demand for fat-free and sugar-free products, the major food and beverage companies are looking for low sugar content such as diet coke. As customers are increasingly following the plan for weight management, preference for consumption of low or no sugar content is projected to remain high. Preference for healthy, fat-free and sugar-free food products is projected to revoke demand for artificial sweeteners in the global market during the forecast period.
However, various factors are projected to pose significant challenges for the growth of artificial sweeteners. Artificial sweeteners is projected to record significant demand during production of aerated drinks such as soft drinks. As customers are becoming more conscious, preference is being given to healthy beverages. The drop in sales for soft drinks in North America and Europe attributed to changing consumer patterns is projected to inhibit the global market. Moreover, various artificial sweetener products such as aspartame, saccharin and sucralose have carcinogenic properties, which can affect the customer’s health adversely. Bound to these factors,
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Sales to Remain High in Food and Beverage Industry As the need for sweet and low calorie food product is projected to remain high, demand for artificial sweeteners: such as aspartame is likely to increase among the food manufacturers. In terms of revenue, the aspartame product type segment is projected to witness the highest growth, recording more than US $ 6,500 mn by 2026-end. CAGR on the other hand, the sucralose CAGR over the forecast period. By end users, the food and beverage segment is projected to register significant revenue growth, representing a value of over US $ 9,000 million by 2017-end. In contrast, the pharmaceuticals end users segment is projected to reflect the fastest growth in the global market of artificial sweeteners throughout 2026.
By 2026-end, the beverage application segment is projected to have significant growth in terms of revenue, more than US $ 4,000 Mn. CAGR on the other hand, the bakery goods application segment CAGR over the forecast period.
Market players Major players in the global market of artificial sweeteners are Tate & Lyle PLC, MacAndrews & Forbes Incorporated, DuPont, Niutang Chemical Ltd., Ajinomoto Co., Inc., Cargill, Incorporated, Symrise AG, Archer Daniels Midland Company, Associated British Foods PLC, Nestlé SA, Ingredion Incorporated, Wilmar International Limited, American Sugar Refining, Inc., and Roquette Frères.