Saccharin Sweetener Market - Forecasts From 2019 To 2024

Description

The saccharin sweetener market is projected to grow at a CAGR of 5.78% to reach US$1.647 billion in 2024 from US$1.175 billion in 2018. Saccharin sweetener refers to an artificial sweetener used as a sugar substitute, it also has an exceptional shelf life as compared to its competitive sweetener substitutes and is thought to be sweeter than sugar. According to the United States Food and Drug Administration, saccharin is 200 to 700 times sweeter than table sugar (sucrose), and it does not contain any calories. Aside from being used in the food and beverage industry, saccharin is also used in the pharmaceutical industry to sweeten medicines. It is also considered as a cheaper substitute as compared to its competitive sweeteners. Geographically, Asia Pacific is evaluated to hold a noteworthy market growth rate during the forecast period because of the quick urbanization as well as the rise in disposable income. The North American and the European regions hold a high share in the market on account of high consumption of beverages, confectionaries, nutritional and dairy products, which are some of the most notable areas where Saccharin is used.

DRIVERS
Increase in investment and research for sugar substitutes
Due to the non-nutritive value of saccharin, it is the perfect substitute for people aiming to lose weight.
Growing health-conscious population preferring low-calorie food options

RESTRAINTS
Availability of substitutes
Allergic reactions as well as health and safety concerns caused by saccharin
Stringent Government regulations

INDUSTRY UPDATE
In January 2019, Merisant Company, launched Sugarly Sweet Zero Calorie Sweetener made with aspartame or saccharin

Major industry players profiled as part of the report are B&G Foods, Inc., Cumberland Packing Corp., Kyung-In Synthetic Corporation, Penta International Corporation, Tianjin Changjie Chemical Co., Ltd., Jiangxi Dongxu Chemical Science And Technology Co., Ltd., Vishnu Chemicals Ltd., PMC Specialties Group, TwoLions (Zhangjiagang) Fine Chemicals Co., Ltd., Kaifeng Xinghua Fine Chemical LTD.

Segmentation

The Saccharin sweetener market has been analyzed through the following segments:

By Type
Granular
Powder
Liquid

By Application
Dairy
Beverages
Confectionary and Bakery
Processed food
Others

By Geography
North America
USA
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others