High consumption of sugar can increase the risk of various diseases such as diabetes, cancer, heart diseases, immune deficiency, anemia, and osteoporosis. High intake also leads to imbalance in the insulin and blood sugar levels, which in turn leads to prevalence of diseases such as type 2 diabetes and obesity. Increasing awareness on maintaining health and well-being, and mitigating the risk of lifestyle diseases has influenced many consumers to adopt low-sugar diets. There has also been a marked increase in the number of consumers that have shifted to artificial sweeteners. Manufacturers haven’t been oblivious to these evolutions in consumer demand, and are broadening their portfolio of low-sugar products and artificial sweeteners. According to a recent research study by Future Market Insights, the global artificial sweeteners market is expected to represent a value of over US$ 19,100 Mn by the end of 2026.
Waning Popularity of Soft Drinks Can Stymie Demand for Artificial Sweeteners
On the other hand, various factors are expected to hinder growth of the global artificial sweeteners market during the forecast period. Artificial sweeteners continue to witness significant demand in the beverage industry for the production of range of soft drinks. Growing concerns among the health-conscious customers, especially in Europe and North America is expected to inhibit growth of the global artificial sweeteners market significantly. Shift in the consumer behavior and spending patterns towards more healthy products will further lead to a dip in sales for artificial sweeteners in the global market. Some of the artificial sweeteners such as Saccharin have carcinogenic attributes. Increasing consumption of artificial sweeteners such as Saccharin can impact the health of the customers adversely. These factors are expected to shrink the customer based for artificial sweeteners in the global market during the forecast period.
Steady Adoption in Food & Beverage Industry a Key Driver
Prevalence of obesity and related conditions including diabetes will continue to fuel demand for artificial sweeteners in the food industry. Demand for the artificial sweeteners is also expected to remain high in the beverage industry. Growing health concerns among the customers has led manufacturers in the beverage industry to witness significant demand for artificial sweeteners. In order to expand their customer base, the leading companies in the beverage industry are opting for artificial sweeteners for production of the baked food products, beverages, and ice-creams. According to Future Market Insights, demand for artificial sweeteners in the food and beverage was over US$ 9,000 Mn in 2017.
Aspartame, Sucralose, Saccharin, and Neotame are some of the artificial sweeteners used as a substitute for sugar by the customers and manufacturers in the food and beverage industry. Among these, the aspartame segment is expected to represent the highest revenue growth, accounting for a value of over US$ 6,500 Mn by the end of 2026.
Leading market players operating in the global artificial sweeteners market include MacAndrews & Forbes Incorporated, Tate & Lyle PLC, Niutang Chemical Ltd., DuPont, Cargill, Incorporated, Ajinomoto Co., Inc., Archer Daniels Midland Company, Symrise AG, Nestlé S.A., Associated British Foods PLC, Wilmar International Limited, Ingredion Incorporated, Roquette Frères, and American Sugar Refining, Inc.
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