COVID-19 Impact Analysis on Global Artificial Sweeteners Market
The COVID-19 pandemic has hit a majority of the fortune companies, out of which many food and beverage companies were hit due to severe disruption in the supply chain. The outbreak of COVID in the Artificial Sweeteners Market caused distribution since it spread across the globe. Due to the COVID-19 pandemic, the demand for food has been rising but, due to the supply chain disruption, it stopped producers from supplying their products to the market. Moreover, the disruptions in the supply chains are causing wastage of fresh produce, even though there is a high demand for products. The changes in consumer behavior and demand during the pandemic impacted on the value chain in the food and beverage industry. The shutdown of economic activities affected all the sector. Furthermore, due to transportation barriers, artificial sweeteners market demand is reduced. The export of products has been reduced due to emerging concerns about the spread of the COVID-19 pandemic. All these factors impacted negatively on the artificial sweetener market.
Market Overview- Global Artificial Sweeteners Market
Market Drivers
Increasing health conscious consumers across the globe are keeping attention to the sugar and calorie content of their favourite foods. The growing health problem due to sugar and increased lifestyle diseases such as heart disease and diabetes have pushed people to prefer healthy alternatives like artificial sweeteners. The growing health-conscious consumers prefer low-or no-calories food and beverages which is a key factor in rising artificial sweeteners demand. Increased use of artificial sweeteners in the food and beverage industry, including drinks, sauces, chewing gum, jellies, dressing, baked goods, candy, fruit juices, ice-cream and others. Increased demand for healthy food products. Therefore, food processing companies promote low-calories and sugar free food products which promote the artificial sweeteners market growth. Further, increased consumption of diet drinks and low sugar drinks has an increased demand for artificial sweeteners in the soft drink industry.
Market Restraints
The long-term usage of artificial sweeteners can trigger diabetes as it interrupts the body’s ability to regulate blood sugar is a major factor hampering the artificial sweeteners market growth. Besides, the toxicological evidence and concerns about the safety of artificial sweeteners are another major factor hindering the market growth.
Market Opportunities
The increasing consumer desire for tasty and sweetened food despite growing obesity rates, which is increased demand for artificial sweeteners, is expected to create a great opportunity for market growth. Moreover, growing product innovation and growing demand for artificial sweeteners create an opportunity for manufacturers. It is rising in popularity as the world’s population becomes more sedentary and unhealthy, which boosts the opportunity to increase production of low-calories RTD drinks.
Market Growth Challenges
The increasing concerns for clean label solutions and the complex regulatory structure in the various countries act as a major growth challenge in front of artificial sweeteners. Harmful habits such as irregular eating and the intake of sugary drinks to satisfy hunger.
Cumulative Growth Analysis
The report provides in-depth analysis of global artificial sweeteners market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The growing health-conscious consumers preferring low-or no-calories food and beverages which is a key factor rising artificial sweeteners demand is expected to witness the artificial sweeteners Market growth at a specific CAGR from 2022-2028.
Market Segmental Overview
The global artificial sweeteners market comprises of different market segment like product, application, end-user and geography.
Artificial Sweeteners Market by Product
The types studied in the global artificial sweeteners market are, aspartmane, Acesulfame k, saccharin, sucralose, neotame. The aspartame segment accounts for the largest share in the global artificial sweeteners market. Aspartame is an artificial non-saccharide sweetener 200 times sweeter than sucrose and is mainly used as a sugar substitute in food and beverages. Aspartame is a low-calorie sweetener that has been used for decades to lower one’s intake of added sugars. It is used in many food & beverages as it is much sweeter than sugar, and very little amount of it is needed to provide the same level of sweetness. Aspartame is commonly as table top sweeteners, as a sweetener in prepared foods and beverages and in recipes that do not require too much heating.
Artificial Sweeteners Market by Application
Artificial sweeteners find its application in, Bakery Goods, Sweet Spreads, Confectionery & Chewing Gums, Beverages, Dairy Products. The bakery goods segment accounts for the largest share in the artificial sweeteners market. Bakery products are in high demand due to their convenience and affordability. Furthermore, the bakery industry is constantly expanding with the launch of innovative products, which is creating a demand for artificial sweeteners.
Artificial Sweeteners Market by End-User
The end-users studied in the global artificial sweeteners market are, food and beverage, pharmaceuticals and direct sales. The food and beverage segment accounts for the largest share in the artificial sweeteners market. Artificial sweeteners have almost replaced sugar in the beverage segment, specifically in carbonated beverages. As a growing demand for diet carbonated beverages, flavoured water and other beverages boost the segment's growth. In addition, in soft drinks, the quantity of sugar used is reduced without affecting appearance and taste, which enables manufacturers in the beverage industry to replace sugar with artificial sweeteners. The demand for low sugar and diet drinks is growing. Therefore, the soft drink industry has the highest use of artificial sweeteners in the market. Moreover, product development and a growing preference for artificial sweeteners increases the growth of the market in the food and beverage industry.
Artificial Sweeteners Market by Geography
On the basis of geography, the artificial sweeteners market is segmented into, North America, Asia-pacific, Europe, and the rest of the world. The Asia-Pacific region segment commanded the largest share in the artificial sweeteners market. The growing modern lifestyle and additional health consciousness, urbanization and liberal trade policies in the food sector boost the artificial sweetener market growth. Further, increasing disposable income and growing demand for sweet tasty food product boost the market growth. The growing demand for high-intensity artificial sweeteners with increased consumption of products increased demand for artificial sweeteners. Moreover, the rise in health awareness among consumers as growing obesity, diabetes and other diseases increases demand for low-calorie food.
Competitive Landscape Analysis
The competitive landscape analysis of the global artificial sweetener market is certainly based on the range of market players operating in the packaging industry. The artificial sweetener market is highly competitive due to the presence of a large number of players in the market. The demand for the artificial sweetener market has increased due to the rising in health awareness among consumers and the key players are working hard to increase their market value to raise their company presence globally. The key player offers a wide range of artificial sweeteners based on type. The market has major competitive analysis based on the new product, eco-friendly products, quality, and price. The players operating in the global artificial sweeteners market are adopting different strategies to cater to consumer demand.
The key players studied in the market are, Roquette, Ajinomoto Co., Inc., JK Sucralose, McNeil Nutritionals, NutraSweet Property Holdings, Inc., Hermes Sweeteners Ltd., , PureCircle, Sunwin, Stevia, International, Inc., Zydus, Wellness Ltd., MORTITA KAGAJU KOGYO co. Ltd and among others
