Artificial Sweetener Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032

Artificial Sweetener Market size is projected to experience a healthy growth during 2023 to 2032, owing to the higher demand for sugar-free products and low-calorie sugar alternatives.
 

Artificial sweeteners are a good choice for obese and overweight persons who are attempting to lose weight. These sweeteners have almost no calories compared to a teaspoon of conventional sugar. They are ideal for individuals suffering from diabetes, as it prevents the rise in blood glucose levels. The prevalence in the number of obesity and diabetes patients ought to boost the expansion of the artificial sweeteners market. As per the CDC data, nearly 37.3 million people in the United States have diabetes, which is almost 11.3% of the country’s total population. 
 

Awareness regarding the benefits of artificial sweeteners would promote market growth through 2032. As people become more aware of the negative effects of using conventional sugar, there will be an estimated increase in the demand for alternative sweeteners. Mounting health issues caused by lifestyle changes like heart disease and diabetes will influence product uptake. Many food and beverage companies are switching from ordinary sugar to low-calorie sugar substitutes to serve consumers with such health conditions.
 

Based on application, the artificial sweetener market is slated to hold a sizable share in the beverage application sector by 2032. Artificial sweeteners are widely utilized in drinks, dairy products, candies, bread goods, and other food items to make them taste good while being healthier. Regular sugar is gradually being replaced by artificial sugar replacements in beverages, particularly in soft drinks. Leading beverage companies are utilizing artificial sweeteners that are tailored for customers with diabetes. This allows them to be used in smaller amounts without compromising the product's flavor and appearance, which results in significant cost savings for beverage providers.
 

On the basis of the region, the North America artificial sweetener market is anticipated to experience robust growth through 2032. The widespread prevalence of diabetes is predicted to influence regional demand trends in the coming years. According to the U.S. CDC's National Diabetes Statistical Report for 2020, there are more than 34 million cases of diabetes in the country as a whole. The presence of many overweight and fat people in the region is forecasted to drive the consumption of low-calorie and zero-calorie food products.
 

Some of the leading companies involved in the artificial sweetener market include Ajinomoto Co. Inc, Beijing Vitasweet Co. Ltd., Whole Earth Sweetener, Madhava Sweeteners, Ach Food Tate & Lyle PLC, and Cargill Inc. With R&D and product innovation, manufacturers are continually seeking to improve the range of their products. Many companies also rely on mergers, purchases, alliances, and other tactics to gain a competitive business advantage.
 

For example, in December 2020, Tate & Lyle acquired Sweet Green Fields in order to improve its place as one of the top sweetener suppliers. Specialized R&D facilities in China are helping the business grow its position in the APAC region. In July 2021, Tate & Lyle announced the sale of 50% of its industrial starches and artificial sweeteners operations to KPS Capital Partners, a private equity firm, for USD 1.3 billion.
 

Impact of inflation on the global artificial sweeteners market

Inflation is expected to have a significant impact on the food sector, consequently affecting the artificial sweeteners industry growth. The increase in costs of raw materials will influence the quantity and quality of foods served at restaurants as well as have an impact on consumer spending. Furthermore, a rise in the prices of food materials and a decline in purchasing power could trigger the need for cheaper sweetener alternatives. With governments worldwide seeking to improve economic conditions and limit the impacts of inflation.
 

What Information does this report contain?