The Global Synthetic Sweeteners Market Is Expected To Grow To $74 Billion By 2027, With Rising Health Awareness As Per The Business Research Company's Synthetic Sweeteners Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company, the global synthetic sweeteners market has witnessed robust growth, with the market size surging from *$50.99 billion in 2022 to $55.41 billion in 2023*, reflecting an impressive Compound Annual Growth Rate *(CAGR) of 8.7%.* The upward trajectory is expected to continue, with a projected synthetic sweeteners market size of *$74.94 billion by 2027*, driven by a *CAGR of 7.8%.**Health Awareness Sparks Demand*
Rising health awareness among consumers worldwide has significantly contributed to the growth of the synthetic sweetener market. The increasing prevalence of heart diseases, diabetes, and obesity is motivating people to adopt healthier lifestyles. According to the World Health Organization (WHO), an alarming 17.9 million individuals die annually due to cardiovascular diseases. Furthermore, the global obesity rate is on the rise, driven by urbanization and busy lifestyles. A study by the Harvard T.H. Chan School of Public Health reveals that approximately 40% of adults in the USA are obese, with an additional 18% facing severe obesity. In response to these health concerns, esteemed organizations like the American Heart Association (AHA) and the American Diabetes Association (ADA) endorse the use of artificial sweeteners as a sugar substitute to combat diseases. This growing health consciousness among consumers has led to increased demand for synthetic sweeteners, propelling the synthetic sweeteners market forward.
*Learn More In-Depth **On** The **Synthetic Sweeteners** Market *
*https://www.thebusinessresearchcompany.com/report/synthetic-sweeteners-global-market-report*
*Sucralose-Based Sweeteners on the Rise*
Sucralose-based sweeteners are gaining prominence, particularly in the food industry. These sweeteners, sweeter than sugar and low in calories, do not contribute to dental cavities. Concerns about the cardiovascular effects of sugar consumption are driving the adoption of artificial sweeteners like sucralose. Additionally, declining sugar production and rising sugar prices worldwide are further incentivizing the use of sucralose-based sweeteners. These sweeteners serve as primary sugar substitutes in various products, including carbonated beverages, juices, dairy items, sugar-free chewing gums, confectionery, and bakery goods. For example, in the United States, PepsiCo has incorporated sucralose-based sweeteners, replacing aspartame in diet Pepsi.
*Asia-Pacific Leads, North America Follows*
In 2022, *Asia-Pacific* claimed the top spot as the *largest region* in the synthetic sweeteners market, and it is expected to maintain its lead as the fastest-growing region. North America secured the second-largest position in the global synthetic sweeteners market share.
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*Segmentation for Comprehensive Insights*
The synthetic sweeteners market is segmented based on product type (aspartame, acesulfame K, saccharin, sucralose, neotame, other product types), application (bakery, dairy, confectionery, beverages, soups, sauces and dressings, other applications), and distribution channel (supermarkets & hypermarkets, departmental stores, convenience stores, other distribution channels).
As health-conscious consumers drive the demand for synthetic sweeteners, the synthetic sweeteners market is set to flourish, offering a wide range of opportunities for industry players.
*Synthetic Sweeteners* *Global **Market **Report** 2023* by The Business Research Company provides insights on the synthetic sweeteners market size, synthetic sweeteners market segments, synthetic sweeteners market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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