Fact MR’s latest report on the artificial sweetener market reveals vital aspects and estimates the market valuation to approach US$ 2.6 Bn by 2031. According to the analysis, the market is expected to grow at a CAGR surpassing 3% over the forecast period. In the short-run, a valuation of US$ 2 Bn has been projected by 2021.
Historically, from 2016 to 2020, the market registered considerable growth, closing in at US$ 1.8 Bn by the end of the aforementioned historical period. Heightened health consciousness amidst the COVID-19 pandemic crisis heightened sales of sugar-free or low-sugar foodstuffs and beverages, particularly across online platforms. This consequently boded well for the demand for artificial sweeteners.
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Artificial Sweetener Market Segmentation
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
By Product Type
- Aspartame-based Artificial Sweetener
- Acesulfame-Potassium (Ace-K) based Artificial Sweetener
- Sucralose based Artificial Sweetener
- Saccharin based Artificial Sweetener
- Cyclamate based Artificial Sweetener
- Others (Neotame, Advantame)
Key Takeaways from the Market Study
- By end use application, beverages to account for bulk of global demand, reaching US$ 1 Bn by 2022
- Bakery and confectionery remains the second-largest end user application segment.
- Aspartame-based artificial sweetener is anticipated to generate US$ 616 Mn opportunity by 2022-end.
- U.K to account for 30% of global artificial sweetener demand by 2031
- China to emerge as an opportunistic market, expanding at a CAGR of around 3%
- India to present credible growth opportunities, given the high proportion of diabetic population
“Reduced manufacturing costs compared to conventional sugar is likely to offer a pool of advantages for the manufacturers and stakeholders of the market”, says the Fact.MR analyst
The competitive landscape section in the artificial sweetener market offers a deep dive into the profiles of the leading companies operating in the global market landscape.
Some of the key players in the artificial sweetener market include Roquette, Ajinomoto Co., Inc., JK Sucralose, McNeil Nutritionals, NutraSweet Property Holdings, Inc., Hermes Sweeteners Ltd., MORITA KAGAKU KOGYO CO., LTD., PureCircle, Sunwin Stevia International, Inc., and Zydus Wellness Ltd., among others.
- In January 2021, Roquette, BRAIN AG, and AnalytiCon Discovery announced the successful completion of the R&D phase for the development of Brazzein which is a protein sweetener naturally found in African berries Pentadiplandra brazzeana Baillon.
- This high intensive sweetener provides an outstanding sweetening potency still preserving taste profile and sugar-free functionality. As part of their newly agreed Joint Development Agreement (JDA), Roquette and BRAIN will now progress with the approval and industrial scale-up of the protein sweetener in the food and beverage sector.