The estimated value of the worldwide artificial sweetener market is $7 billion in 2022 and is projected to reach $12 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2032.
By the end of 2032, the UK is predicted to own 30% of the worldwide market. Throughout the projected period, aspartame-based artificial sweeteners are expected to have growth at a CAGR of 4%.
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The growth of the artificial sweetener market is driven by the increasing consumption of zero- or low-calorie food products globally. Lifestyle disorders like diabetes, obesity, thyroid, and cardiovascular diseases have led consumers to opt for healthier diets, including low-calorie food products, thus increasing the adoption of artificial sweeteners worldwide.
Moreover, the rise in hectic lifestyles has prompted consumers to choose ready-to-eat and processed food products such as breakfast cereals and energy drinks. This surge in consumption of such food and beverage items is expected to drive the demand for artificial sweeteners in the market.
To meet this growing demand, key players are introducing high-quality artificial sweeteners as substitutes for sugar with low calories. Saccharin, sodium benzoate, and aspartame are among the most prevalent artificial sweeteners among leading players.
Aspartame is extensively used as an artificial sweetener by food and beverage manufacturers. It is considered superior to conventional sugar and is used in various beverages such as low-calorie soft drinks, coffee, tea, yogurt, and others. Furthermore, with the increasing preference for clean label ingredients and healthy food products, the demand for aspartame is expected to rise significantly over the forecast period.
Key Takeaways:
- The U.K. is projected to account for 3 out of 10 sales in the global artificial sweetener market during the forecast period.
- The China artificial sweetener market is expected to grow at a 3% CAGR during the assessment period.
- The aspartame segment is anticipated to register growth at a 4% CAGR between 2022 and 2032.
- The beverage segment is expected to witness the fastest growth over the upcoming decade in terms of end-use application.
- India and Japan are likely to be the most remunerative artificial sweetener markets across South & East Asia due to the growing consumption of processed food products.
Growth Drivers:
- Rising preference for low- and zero-calorie food & beverage products.
- Growing prevalence of diabetes and awareness related to dental care.
- Surging consumption of packaged and processed food & beverage products.
Restraints:
- Growing inclination towards organic and natural ingredients.
- High investment and development cost for advanced technology.
Read More: https://www.factmr.com/report/2313/artificial-sweetener-market
Competitive Landscape:
Artificial sweetener manufacturers are focusing on integrating advanced biotechnology and processes to develop high-quality and healthy sweeteners. They are also relying on strategic collaborations and aiming for fast-track regulatory approvals to expand their product portfolio and strengthen their presence in the industry.
In October 2022, leading brand Bonumose announced the launch of its new product Tagatose and Allulose, artificial sweeteners with reduced calories. The company collaborated with European industrial biotechnology Brian Biotech to develop these sweeteners, which will help it gain a larger customer base and increase revenue.
In December 2020, Sugar reduction solutions organization SweeGen announced the clearance of its artificial sweetener, Bestevia® stevia sweeteners from Brazil National Health and Surveillance Agency (ANVISA), paving the way for lucrative revenues.
Key Companies Profiled by Fact.MR:
- Roquette Freres
- Hermes Sweeteners Ltd.
- Ajinomoto Co., Inc.
- McNeil Nutritionals
- PureCircle
- NutraSweet Property Holdings, Inc.
- Zydus Wellness Ltd
- JK Sucralose
- MORITA KAGAKU KOGYO CO. LTD.
- Sunwin Stevia International, Inc.
For more insights on the artificial sweetener market, please refer to Fact.MR's latest study, which offers a detailed analysis of the global market for the forecast period of 2022 to 2032, including key drivers, trends, and segmentation by product, end use, form, and region.
