Synthetic Sweeteners Global Market Report 2023
Major players in the synthetic sweeteners market are Cargill Inc, Archer Daniels Midland, Ingredion Inc, Roquette, Ajinomoto Co. Inc, JK Sucralose Inc, Dupont, Merisant Company (a subsidiary of MacAndrews & Forbes Incorporated), Celanese Corporation, and McNeil Nutritionals.
New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Synthetic Sweeteners Global Market Report 2023" - https://www.reportlinker.com/p06281533/?utm_source=GNWThe global synthetic sweeteners market will grow from $50.99 billion in 2022 to $55.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The synthetic sweeteners market is expected to grow from $74.94 billion in 2027 at a CAGR of 7.8%.
The synthetic sweeteners market consists of the sales of xylitol, advantame, and acesulfame potassium (Ace-K).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
Asia Pacific was the largest region in the synthetic sweeteners market in 2022.North America was the second-largest region in the synthetic sweeteners market.
The regions covered in the synthetic sweeteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of synthetic sweeteners are aspartame, acesulfame k, saccharin, sucralose, neotame, and other types.Aspartame is a white, crystalline, odorless, slightly water-soluble noncarbohydrate powder, C14H18N2O5, synthesized from amino acids, that is 150–200 times as sweet as sugar and is used as a low-calorie sugar substitute in soft drinks, table sweeteners, and other food products.
The applications involved are bakery, dairy, confectionery, beverages, soups, sauces, dressings, and other applications. The distribution channels are supermarkets and hypermarkets, departmental stores, convenience stores, and other distribution channels.
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.
The long-term use of synthetic sweeteners can cause diabetes and is expected to limit the growth of the synthetic sweetener market.It increases the risk of obesity and heart disease.
Long-term use of artificial sweeteners changes taste buds over time, resulting in a persistent craving for excessively sweet foods.Due to this, nutrient deficiencies and weight gain are on the rise.
It could lead to severe long-term illnesses such as headaches, dizziness, rash, bloating, nausea, diarrhea, and digestive problems.For instance, Brian Hoffmann, an assistant professor at the Medical College of Wisconsin and Marquette University, states in his new research study that long-term use of synthetic sweeteners could lead to metabolic disorders such as diabetes and obesity.
Additionally, a study from the Canadian Medical Association Journal also explains that non-nutrient sweeteners such as aspartame, sucralose, and stevia may increase the risk of obesity and its related effects over long-term use. Long-term use of synthetic sweeteners has a negative impact on the synthetic sweetener market that hinders its market growth.
Sucralose-based sweeteners are increasingly being used as applications in the food industry.Sucralose is sweeter than sugar and is a low-calorie ingredient that does not cause dental cavities.
Growing concerns about cardiovascular disorders due to increased consumption of sugar-based foods are encouraging the use of artificial sweeteners such as sucralose.Additionally, declining production and rising sugar prices worldwide are also encouraging the use of sucralose-based sweeteners.
These sweeteners are the major substitutes for sugar in carbonated beverages, juices, dairy products, sugar-free chewing gums, confectionery, and bakery goods. For instance, in the U.S., PepsiCo is using sucralose-based sweeteners by replacing aspartame in diet Pepsi.
In November 2020, Whole Earth Brands Inc, a US-based global food company acquired all of the outstanding equity interests of Swerve LLC and Swerve IP LLC (collectively known as Swerve) for $80 million.As a result, Whole Earth Brands added another portfolio to its business with shelf stable sweetener brand in its North America retail.
Swerve is a US-based keto-friendly and plant-based sweeteners and baking brand.
The countries covered in the synthetic sweeteners market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The synthetic sweeteners market research report is one of a series of new reports that provides synthetic sweetener market statistics, including synthetic sweetener industry global market size, regional shares, competitors with a synthetic sweetener market share, detailed synthetic sweetener market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic sweetener industry. This synthetic sweeteners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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