Artificial Sweetener Market Projected to Reach US$ 12 Billion by 2032, Growing at a CAGR of 5.5%

The estimated value of the worldwide artificial sweetener market is $7 billion in 2022 and is projected to reach $12 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2032.

By the end of 2032, the UK is predicted to own 30% of the worldwide market. Throughout the projected period, aspartame-based artificial sweeteners are expected to have growth at a CAGR of 4%.

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The growth of the artificial sweetener market is propelled by the rising consumption of zero- or low-calorie food products on a global scale. Lifestyle-related conditions such as diabetes, obesity, thyroid disorders, and cardiovascular diseases have motivated consumers to adopt healthier diets, including low-calorie food options, thereby boosting the uptake of artificial sweeteners worldwide.

Additionally, the increasing prevalence of fast-paced lifestyles has encouraged consumers to favor ready-to-eat and processed food items like breakfast cereals and energy drinks. This growing consumption of such food and beverage products is anticipated to stimulate the demand for artificial sweeteners across the market.

To cater to this escalating demand, major industry players are introducing high-quality artificial sweeteners as alternatives to sugar, offering reduced calorie content. Saccharin, sodium benzoate, and aspartame emerge as prominent artificial sweeteners favored by leading manufacturers.

Aspartame, in particular, is extensively utilized in various food and beverage applications by manufacturers. Valued for its superior sweetness compared to traditional sugar, aspartame is commonly found in low-calorie soft drinks, coffee, tea, yogurt, and other products. Furthermore, amid increasing consumer preference for clean label ingredients and healthier food choices, the demand for aspartame is projected to experience substantial growth in the foreseeable future.

Key Takeaways:

- The U.K. is projected to account for 3 out of 10 sales in the global artificial sweetener market during the forecast period.
- The China artificial sweetener market is expected to grow at a 3% CAGR during the assessment period.
- The aspartame segment is anticipated to register growth at a 4% CAGR between 2022 and 2032.
- The beverage segment is expected to witness the fastest growth over the upcoming decade in terms of end-use application.
- India and Japan are likely to be the most remunerative artificial sweetener markets across South & East Asia due to the growing consumption of processed food products.

Growth Drivers:

Increasing demand for low- and zero-calorie food and beverage options.
Rising incidence of diabetes and heightened awareness of dental health.
Growing consumption of packaged and processed food and beverage items.

Restraints:

Increasing preference for organic and natural ingredients.
Significant investment and development costs associated with advanced technology.

Read More: https://www.factmr.com/report/2313/artificial-sweetener-market

Competitive Landscape:

Artificial sweetener manufacturers are focusing on integrating advanced biotechnology and processes to develop high-quality and healthy sweeteners. They are also relying on strategic collaborations and aiming for fast-track regulatory approvals to expand their product portfolio and strengthen their presence in the industry.

In October 2022, leading brand Bonumose announced the launch of its new product Tagatose and Allulose, artificial sweeteners with reduced calories. The company collaborated with European industrial biotechnology Brian Biotech to develop these sweeteners, which will help it gain a larger customer base and increase revenue.

In December 2020, Sugar reduction solutions organization SweeGen announced the clearance of its artificial sweetener, Bestevia® stevia sweeteners from Brazil National Health and Surveillance Agency (ANVISA), paving the way for lucrative revenues.

Key Companies Profiled by Fact.MR:

- Roquette Freres
- Hermes Sweeteners Ltd.
- Ajinomoto Co., Inc.
- McNeil Nutritionals
- PureCircle
- NutraSweet Property Holdings, Inc.
- Zydus Wellness Ltd
- JK Sucralose
- MORITA KAGAKU KOGYO CO. LTD.
- Sunwin Stevia International, Inc.

For more insights on the artificial sweetener market, please refer to Fact.MR's latest study, which offers a detailed analysis of the global market for the forecast period of 2022 to 2032, including key drivers, trends, and segmentation by product, end use, form, and region.

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This release was published on openPR.