Fact MR’s latest report on the artificial sweetener market reveals vital aspects evolving a pacesetters pushing growth of the global market landscape. Growing consumption of low-calorie food varieties, diet carbonated soft drinks, and sugar substitutes have been cited as key growth levers of artificial sweetener market. The research study tracks the broader trends in artificial sweetener market, while focusing specifically on high-intensity artificial sweeteners. The report estimates the market valuation to approach US$ 1,816 Mn by 2018-end, taking a positive leap from US$ 1,768.5 Mn in 2017.
Artificial Sweetener- Market Structure
The artificial sweetener market has been segmented by product, end use application, form, and region. By product, the market is classified into Cyclamate, Saccharin, Aspartame, Acesulfame Potassium (Ace-K), Sucralose, and Others.
Several end use applications featured in the high intensity artificial sweetener market report include beverage, dairy products, bakery and confectionery, dietary supplements, bread spreads, pharmaceutical, personal care, and others. By form, the high intensity artificial sweetener market is classified as powder, tablets, and syrups. The high intensity artificial sweetener market has been gauged across key regions such as North America, Latin America, Europe, Japan, APEJ, and MEA.
The rising preferences for low calorie content and minimal compromises with taste attributes is predominantly spurring sales of aspartame, with an anticipated US$ 616 Mn opportunity to emerge by 2018-end. As per the report, the consumption of high intensity artificial sweetener in powdered form is likely to be an all-time-high, consumption in the form of tablets is witnessing impressive growth.
The report estimates that beverage, with burgeoning popularity of low calorie drinks, remains the largest and most promising end user application, with an estimated valuation of around US$ 1,079 Mn by 2018-end. Bakery and confectionery remain the second-largest end user application segment, with a wide range of products incorporating use of high intensity artificial sweetener as a part of their ingredient base.
Another positive aspect associated is the manufacturing cost of high intensity artificial sweetener, which relatively is less as compared to that of sugar. This, in turn is likely to offer a pool of advantages for the manufacturers and stakeholders of the market”, Senior Analyst, Fact.MR
Artificial Sweetener- Competitive Landscape
Tate & Lyle PLC, a key player in the artificial sweetener market, entered into an agreement in 2017 to acquire a 15% stake in Sweet Green Fields, a leading company offering premium quality sweetener solutions.
Archer Daniels Midland Company, another leading player in the artificial sweetener market, acquired Eatem Foods in the year 2015 to diversify its product portfolio. Also, the company announced the availability of a new product named’ VivaSweet Sucralose’ in 2015, an exclusive zero-calorie sweetener.
Ajinomoto Co., Inc., another prominent player in the high intensity artificial sweetener market, signed an agreement in March, 2018 to acquire Circle Foods L.L.C.