Global Artificial Sweeteners Market- Growth, Trend, and Forecast (2017 - 2022)
The global artificial sweeteners market is expected to reach USD 1.7 billion (71.7% share of the total sweeteners market) in 2017, registering a CAGR of 3.5% during 2017-2022 (the forecast period).
Rising health concerns, regarding the harmful effects of table sugar, and growing prevalence of lifestyle diseases, like diabetes and heart diseases, have driven people to opt for healthy alternatives like artificial sweeteners. Aspartame and sucralose are the common additives used to sweeten a range of products in food & beverage industry. The global soft drink industry is poised to consume the maximum amount of aspartame.
The food & beverage industry is increasingly replacing sugar or corn syrup with non-nutritive sweeteners. High demand from soft drink and confectionery industries is expected to act as a growth driver for artificial sweeteners market. Diet beverages and low-sugar food for diabetic and diet-conscious consumers are anticipated to be the demand drivers, during 2017-2022 (the forecast period).
Regulatory approvals by Food & Drug Authority (FDA) and European Food Safety Authority (EFSA) to sweeteners, such as aspartame, Ace-K, and saccharin, are also expected to fuel the demand from end-use industries.
The global artificial sweeteners market is segmented, based on product type, into nutritive (aspartame) and non-nutritive (acesulfame k, saccharin, sucralose, and neotame). Moreover, the market, based on application, is segmented into bakery items, dairy products, confectioneries, beverages, and ‘others’. Geographically, the market is segmented into North America, South America, Asia-Pacific, Europe, and Africa.
The use of artificial sweeteners in developed countries like North America and Europe has declined, due to the decreased soft drink consumption. However, regions like Asia-Pacific and the Middle East are expected to drive the market growth.
High investments in affordable food products, along with rising consumer’s consciousness in developing economies, is expected to provide great opportunities to producers and manufacturers.
The increasing use of artificial sweeteners in Asia-Pacific owes to the consumers’ preference shift towards convenience foods.
Our Global Artificial Sweeteners Market Report Covers:
Market, trends & dynamics Aspects driving and restraining the demand for artificial sweeteners, both, globally and regionally Latest News & developments Porter’s five force analysis Investment scope Deep-dive insights