Acesulfame Potassium Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1510
Global Acesulfame Potassium Market size is likely to witness significant growth, expanding at a moderate CAGR during the forecast timespan. Acesulfame potassium is a crystalline powder, derived from acetic acid, which has elevated temperature stability, good shelf life and good water solubility with low calorie content. The fact that the product is 200 times sweeter than sugar, makes it desirable to be used as artificial sweeter or flavoring agent and a sugar substitute in the food & beverage, cosmetic and pharmaceutical industries.
The product has wide usage in food & beverage industry. It is declared as a non-carcinogenic by European Union and World Health Organization (WHO). Thus, making it highly desirable in mainly, beverage industry. Rising per capita income, growing consumerism and increased health awareness among consumers has been driving the food & beverage industry. This tremendous growth of food & beverage industry will have a direct impact on the acesulfame potassium market size in the forecast timespan.
The biggest restraint which can hinder the global acesulfame potassium market size in the coming years is the development and increasing usage of bio based food additives, such as stevia. The increasing presence of product substitutes is likely to hamper overall acesulfame potassium market size by 2024.
The major applications of acesulfame potassium market size includes food & beverage, pharmaceutical and cosmetics industry. Beverage (carbonated and non-carbonated) was the main consumer of the product in 2016, followed by food processing and pharmaceutical. The product is directly added in bakery products which need amplified shelf life. It is used in combination with other sweeteners such as sucralose and aspartame in beverages. Other applications of acesulfame potassium market share includes dairy products, vegetable & fruit preserves, confectionery, condiments & relishes, vitamin supplements, tabletop sweeteners, desserts, etc. Artificial sweeteners, added in different foods & beverages, preserve their nutritional value and decrease the calorie content. However, extended consumption of artificial sweeteners such as sucralose, aspartame, saccharin and cyclamate has resulted in increased obesity tooth decay, diabetes and other heart problems among consumers. In addition, these additives react with ingredients of the food, hence affecting the shelf life and nutritional value.
Acesulfame potassium is considered suitable substitute to these food additives as it is a calorie free sweetener and does not react with other ingredients. It also counter balances the after effects of other flavoring agents and sweeteners, thereby used in conjunction. Furthermore, owing to the solubility properties, it does not influence cholesterol levels and is used to modify the bitter taste of liquid medicines and chewable tablets in pharmaceutical industry. these aforementioned trends will propel the global acesulfame potassium market size by 2024.
Asia Pacific is expected be the fastest growing region over the forecast period. In 2016, China was the biggest producer and consumer of the product owing to its increasing demand for diet food and carbonated drinks. Hence, China is likely to become the foremost supplier of the product by the end of the forecast period. Similarly, India has been also showing conducive conditions for the acesulfame potassium market growth in the recent years due to the joint ventures and expansions with beverage companies such as PepsiCo Inc. and The Coca Cola Company. Countries including Japan and Indonesia are predicted to follow the same trend. In case of North America and Europea, the acesulfame potassium market share is likely to witness moderate growth owing to the mature pharmaceutical and food processing sectors. In the Middle East & Africa, acesulfame potassium market will witness moderate growth rate in coming years owing to sluggish food & beverage industry growth in these regions.
The key players operating in the acesulfame potassium market share are Changzhou Niutang Chemical Plant Company Limited, Suzhou Hope Technology Company Limited, Anhiu Jinhe Industrial Company Limited, Pepsico Inc., Spectrum Chemical Manufacturing Company, The Coca Cola Company, Tokyo Chemical Industry, Sigma Aldrich Company LLC. Other companies include Bimal Pharma Private Limited, A.B Enterprises and S.A Pharmachem Private Limited. The prominent market share contributors in product market are primarily focusing on tapping the enormous market potential of developing countries. The companies are establishing vast production facilities to fulfil the rapidly increasing local product demand in these developing regions.
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