Synthetic sweeteners are effectively utilized as applications in weight loss assistance, dental care, and diets for the patients with diabetes mellitus and responsive glycaemia. The Synthetic sweeteners are chemically-processed substances that are utilized in place of sweeteners with the sugar (sucrose) or sugar alcohols.
According to the report analysis, ‘Synthetic Sweeteners Global Market Report 2020’ states that in the synthetic sweeteners global market there are several corporates which presently functioning more actively for leading the highest market growth and dominating the handsome value of market share around the globe during the short span of time while delivering the better consumer satisfaction, decreasing the linked prices, advancing the applications of the synthetic sweeteners, implementing the profitable strategies, advancing and studying the strategies and policies of the government as well as competitors, employing the young work force and investing the effective amount of money includes Cargill Inc., Archer Daniels Midland, Ingredion Inc., Roquette, Ajinomoto Co. Inc., JK Sucralose Inc., Dupont, Merisant Company (subsidiary of MacAndrews & Forbes Incorporated), Celanese Corporation, McNeil Nutritionals and several others.
The worldwide synthetic sweeteners market was worth USD 54.37 billion in 2019. It is projected to increase at a compound annual growth rate (CAGR) of 5% and reach USD 65.73 billion by 2023.The synthetic sweeteners market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. During 2019, Asia Pacific registers for around 55% of the market. The synthetic sweeteners market in Middle East is predicted to register the greatest CAGR throughout 2019-2023.
The effective increase in the health awareness amongst the global consumers contributed to the growth of the synthetic sweeteners market. The augmented incidences of individuals suffering from heart diseases, diabetes, and obesity will ultimately force people to lead an improved lifestyle. For instance, during 2016, according to the ‘World Health Organization’ (WHO), 31% of world’s populace died owing to cardiovascular diseases. The survey also states that, populace with diabetes augmented from 108 million in 1980 to 422 million in 2014, and the worldwide obesity has almost tripled since 1975. During 2018, the American Heart Association (AHA) and the American Diabetes Association (ADA) has provided acceptance in the usage of artificial sweeteners, instead of sugar to fight against the obesity, metabolic syndrome and diabetes, aspects causing heart diseases. The growing health awareness among worldwide consumers increased the requirement for synthetic sweeteners during the historic period, propelling the market.
The Sucralose-based sweeteners are progressively being utilized as applications in the food industry. The Sucralose is sweet than sugar and is a low-calorie ingredient that does not cause dental cavity. Increasing concerns of the cardiovascular disorders owing to increased consumption of sugar-based foods are propelling the usage of artificial sweeteners such as sucralose. Additionally, decreasing production and increasing sugar prices worldwide are also encouraging the usage of sucralose-based sweeteners. Such sweeteners are the foremost substitutes of sugar in carbonated beverages, juices, dairy products, sugar-free chewing gums, confectionery, and bakery goods. For instance, during 2017, in the U.S., PepsiCo is utilizing sucralose-based sweeteners by replacing aspartame in diet pepsi.
During September 2018, Firmenich SA, a Switzerland-based coporate specialized in manufacturing flavors for the beverages, sweets and several other foods, acquired Senomyx, Inc. for an unrevealed amount. The acquisition supported Firmenich SA in adding Senomyx’s leading flavor modernizations and strong natural ingredients to their taste podium. Senomyx, Inc. is a USA-based biotechnology entity that specializes in essence ingredients and natural great intensity sweeteners.
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Ankur Gupta, Head Marketing & Communications