Artificial Sweeteners Market: Food and Beverage Industry to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2026)
- REP-GB-95
- 2018-01-10
- 170 Pages
- Format:
- Category: Food and Beverages
High consumption of sugar can increase the risk of various diseases such as diabetes, cancer, heart diseases, immune deficiency, anemia, and osteoporosis. High intake also leads to imbalance in the insulin and blood sugar levels, which in turn leads to prevalence of diseases such as type 2 diabetes and obesity. Increasing awareness on maintaining health and well-being, and mitigating the risk of lifestyle diseases has influenced many consumers to adopt low-sugar diets. There has also been a marked increase in the number of consumers that have shifted to artificial sweeteners. Manufacturers haven’t been oblivious to these evolutions in consumer demand, and are broadening their portfolio of low-sugar products and artificial sweeteners. According to a recent research study by Future Market Insights, the global artificial sweeteners market is expected to represent a value of over US$ 19,100 Mn by the end of 2026.
Waning Popularity of Soft Drinks Can Stymie Demand for Artificial Sweeteners
On the other hand, various factors are expected to hinder growth of the global artificial sweeteners market during the forecast period. Artificial sweeteners continue to witness significant demand in the beverage industry for the production of range of soft drinks. Growing concerns among the health-conscious customers, especially in Europe and North America is expected to inhibit growth of the global artificial sweeteners market significantly. Shift in the consumer behavior and spending patterns towards more healthy products will further lead to a dip in sales for artificial sweeteners in the global market. Some of the artificial sweeteners such as Saccharin have carcinogenic attributes. Increasing consumption of artificial sweeteners such as Saccharin can impact the health of the customers adversely. These factors are expected to shrink the customer based for artificial sweeteners in the global market during the forecast period.
Steady Adoption in Food & Beverage Industry a Key Driver
Prevalence of obesity and related conditions including diabetes will continue to fuel demand for artificial sweeteners in the food industry. Demand for the artificial sweeteners is also expected to remain high in the beverage industry. Growing health concerns among the customers has led manufacturers in the beverage industry to witness significant demand for artificial sweeteners. In order to expand their customer base, the leading companies in the beverage industry are opting for artificial sweeteners for production of the baked food products, beverages, and ice-creams. According to Future Market Insights, demand for artificial sweeteners in the food and beverage was over US$ 9,000 Mn in 2017.
Aspartame, Sucralose, Saccharin, and Neotame are some of the artificial sweeteners used as a substitute for sugar by the customers and manufacturers in the food and beverage industry. Among these, the aspartame segment is expected to represent the highest revenue growth, accounting for a value of over US$ 6,500 Mn by the end of 2026.
Competition Tracking
Leading market players operating in the global artificial sweeteners market include MacAndrews & Forbes Incorporated, Tate & Lyle PLC, Niutang Chemical Ltd., DuPont, Cargill, Incorporated, Ajinomoto Co., Inc., Archer Daniels Midland Company, Symrise AG, Nestlé S.A., Associated British Foods PLC, Wilmar International Limited, Ingredion Incorporated, Roquette Frères, and American Sugar Refining, Inc.
Global Artificial Sweeteners Market: Overview
The global artificial sweeteners market is expected to witness a moderate growth attributed to surge in demand for sugar-free food products. As customers are becoming more aware about the healthy lifestyle, manufacturers are focusing on offering food products that supplement the weight management routine of the customers. In addition, prevalence of diabetes has led to increasing preference for spending on food and beverage products with low sugar content. Changing consumption and spending patterns of the customers is expected to contribute towards growth of the global artificial sweeteners market significantly.
Market Taxonomy
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Global Artificial Sweeteners Market: Dynamics
Growth of the global artificial sweeteners market is mainly bound to various micro-economic and macro-economic factors. The report states that the global artificial sweeteners market is significantly driven by increasing preference for healthy food products. Growing health concerns among customers has led to surge in demand for fat-free, sugar-free, and diabetes friendly food products. Prevalence of various diseases such as diabetes and obesity is further expected to contribute towards growth of the global artificial sweeteners market significantly. According to a recent report of CDC, more than 36% of the adult population in the U.S., which is more than one-fourth of the population is suffering from obesity. Moreover, increasing prevalence of the obesity related problems such as stroke, type 2 diabetes, cancer, and heart attack is expected to fuel demand for consumption of food products with low calories and sugar content.
In order to expand their customer base, the leading companies are focusing on offering range of sugar-free food products including bakery products, ice creams, and beverages. In addition, increasing demand for confectionery products among the diabetic population has led the manufacturers to opt for alternatives such as artificial sweeteners. Neotame, Saccharin, Sucralose, and Aspartame are some of the most widely used artificial sweeteners for production of diabetic friendly and sugar-free food products. Surge in demand for artificial sweeteners in the food industry will continue to reflect positively towards growth of the global artificial sweeteners market.
Artificial sweeteners is also expected to witness significant demand attributed to increasing preference for low sugar content beverage products. However, changing customer preferences and spending patterns is expected to hinder growth of the global artificial sweeteners market significantly. Increasing preference for healthy beverage products such as natural fruit juices has led to a drop in sales for soft drinks in Europe and North America. Artificial sweeteners such as Saccharin has carcinogenic attributes, due to which increasing consumption will continue to impact the customer’s health adversely.
Global Artificial Sweeteners Market: Segmentation
In the next section, the global artificial sweeteners market is segmented on the basis of product type, end user, application, and region. On the basis of product type, the global artificial sweeteners market is segmented as Aspartame, Acesulfame k, Saccharin, and Neotame. Based on end user, the global market of artificial sweeteners is segmented as food and beverages, pharmaceuticals, direct sales, and other applications. By application, the global artificial sweeteners market is segmented as bakery goods, sweet spreads, confectionery and chewing gums, beverages, dairy products, and others. On the basis of region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ, and MEA.
Global Artificial Sweeteners Market: Competition
Key players in the global market of artificial sweeteners are Roquette Frères, American Sugar Refining, Inc., Wilmar International Limited, Ingredion Incorporated, Nestlé S.A., Associated British Foods PLC, Archer Daniels Midland Company, Symrise AG, Cargill, Incorporated, Ajinomoto Co., Inc., Niutang Chemical Ltd., DuPont, MacAndrews & Forbes Incorporated, and Tate & Lyle PLC.