Synthetic Sweeteners Market
Overview and Scope
Synthetic sweeteners are chemically-processed substances that are used in place of sweeteners with sugar (sucrose) or sugar alcohols. Synthetic sweeteners are used as applications in weight loss assistance, dental care, and diets for patients with diabetes mellitus and reactive glycemia.
Sizing and Forecast
The synthetic sweeteners market size has grown strongly in recent years. It will grow from $55.36 billion in 2023 to $60.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to rising health concerns, diabetic and low-calorie products, food and beverage industry, obesity epidemic.
The synthetic sweeteners market size is expected to see strong growth in the next few years. It will grow to $83.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to continued health concerns, diabetes and obesity prevention, clean label and natural sweeteners, food and beverage industry innovation. Major trends in the forecast period include stevia and plant-based sweeteners, advanced sugar reduction technologies, customized sweetener blends, reduced-calorie functional foods.
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Segmentation & Regional Insights
The synthetic sweeteners market covered in this report is segmented –
1) By Product Type: Aspartame, Acesulfame K, Saccharin, Sucralose, Neotame, Other Product Types
2) By Application: Bakery, Dairy, Confectionery, Beverages, Soups, Sauces and Dressings, Other Applications
3) By Distribution Channel: Supermarkets & Hypermarkets, Departmental Stores, Convenience Stores, Other Distribution Channels
Asia-Pacific was the largest region in the synthetic sweeteners market in 2023. North America was the second-largest region in the global synthetic sweeteners market share. The regions covered in the synthetic sweeteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
Rising health awareness among global consumers has contributed to the growth of the synthetic sweetener market. The increased incidence of individuals suffering from heart diseases, diabetes, and obesity will eventually force people to lead healthier lifestyles. According to the World Health Organization (WHO), 17.9 million people in the world die every year due to cardiovascular diseases. Also, the level of obesity is rising among individuals due to urbanization and busy lifestyles. According to a study by the Harvard T.H. Chan School of Public Health, around 40% of adults in the USA have obesity and another 18% have severe obesity. The American Heart Association (AHA) and the American Diabetes Association (ADA) have given acceptance to the use of artificial sweeteners instead of sugar to fight obesity, metabolic syndrome, and diabetes, factors causing heart diseases. The rising health awareness among global consumers increased the demand for synthetic sweeteners, thus driving the market for synthetic sweeteners during the period.
Key Industry Players
Major companies operating in the synthetic sweeteners market include Cargill Inc., Archer-Daniels-Midland Company, Ingredion Inc., Roquette, Ajinomoto Co. Inc., JK Sucralose Inc., DuPont de Nemours Inc., Celanese Corporation, McNeil Nutritionals LLC, NutraSweet Property Holdings Inc., Hermes Sweeteners Ltd., MORITA Kagaku Kogyo Co. Ltd., PureCircle, Zydus Wellness Ltd., Whole Earth Brands Inc., ACH Food Companies Inc., Madhava Foods Ltd., Beijing Vitasweet Co. Ltd, Tate & Lyle PLC, Wilmar International Limited, Nutrinova, NutraEx Food Inc., Wisdom Natural Brands LLC, Anhui Jinhe Industrial Co. Ltd., Changzhou Niutang Chemical Plant Co., Ltd., Daesang Corporation, Foodchem International Corporation, GLG Life Tech Corporation, Holland Sweetener Company, HYET Sweet SAS, PureCircle Limited
The synthetic sweeteners market report table of contents includes:
1. Executive Summary
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