Global Landscape of Artificial Sweetener Industry

Abstract

The artificial sweetener market with market size of $6.35 billion is expected to exhibit a CAGR of 6.3% for the forecasting period of 2019-2025. Increasing disposable income, consumer health awareness will drive the growth in the market. APAC is the growing potential market with 52% market share due to increasing disposable income and health awareness. Sucralose has the highest market share by type due to its taste profile whereas Aspartame and Acesulfame-K are most traded sweeteners. Food and beverage industry have largest share in artificial sweetener application. Pharmaceuticals is another major industry for artificial sweeteners. According to the trade information, China is the largest leading exporter of artificial sweeteners globally. It exports 13% of the total export of organic chemicals by value. USA is the largest importer of artificial sweeteners. It is an intense competitive and fragmented market with homogeneous products and is high in innovation and development. China being the epicenter of the pandemic as well as the global manufacturing hub, it is difficult for the companies to procure raw materials and hence they are looking for alternative suppliers.