According to Future Market Insights (FMI) updated report, the global artificial sweetener market value is forecast to total US$ 2,710.0 million in 2024. A CAGR of 2.9% is on the cards for the market, with global artificial sweetener sales set to total US$ 3,600 million by 2034.
Demand remains particularly high for aspartame owing to its multiple advantages, including high sweetness and affordability. As per the latest analysis, the target segment will generate significant revenue in the market, recording a CAGR of 2.8%.
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Multiple factors are providing impetus for the growth of the artificial sweetener industry. These include growing demand for low-calorie products, rising health awareness, escalating prevalence of lifestyle diseases, and expanding artificial sweetener usage in the food & beverage sector.
Consumers are increasingly aware of the potential drawbacks of excessive sugar intake, including weight gain, diabetes, and other health concerns. This awareness leads them to seek low-calorie or calorie-free alternatives to traditional sugar. Artificial sweeteners offer a readily available solution, allowing individuals to manage their weight and maintain a healthier lifestyle while still enjoying sweetness in their food and beverages.
The growing popularity of diet and low-calorie products creates a surge in demand for artificial sweeteners. Manufacturers rely on these sweeteners to formulate sugar-free and low-sugar versions of popular beverages like soft drinks, sports drinks, and even coffee and tea.
Sugar-free desserts like yogurt, ice cream, and baked goods utilize artificial sweeteners to maintain a sweet taste without the added calories of sugar, catering to a wider consumer base. Thus, high consumption of these products will directly propel sales of artificial sweeteners.
Key Takeaways from the Artificial Sweetener Industry Report:
- The global artificial sweeteners industry is forecast to reach US$ 3,600 million by 2034.
- By product type, the aspartame segment is set to record a CAGR of 8%.
- Based on end-users, the food & beverages segment will rise at 5% CAGR through 2034.
- Demand in Japan is forecast to grow at 0% CAGR between 2024 and 2034.
- Revenue in the United States is set to reach US$ 810.4 million by 2034.
- India is poised to record a CAGR of 8% through 2034.
“Artificial sweeteners are witnessing steady demand owing to the rising health consciousness and growing prevalence of lifestyle diseases.” says a lead Future Market Insights (FMI) analyst.
Who is Winning?
DuPont, Cargill, Nestlé S.A., Associated British Foods PLC, and Archer Daniels Midland Company are key artificial sweetener manufacturers and suppliers listed in the report. These companies are focusing on expanding their portfolios by introducing new products. They also use strategies such as acquisitions, advertisements, partnerships, agreements, and mergers to stay relevant in the market.
For instance,
- In January 2021, Roquette and AnalytiCon Discovery invested in research and development to develop Brazzein.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global artificial sweetener industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the artificial sweetener market based on product type (aspartame, acesulfame k, saccharin, sucralose, and neotame), end-user (food and beverages, pharmaceuticals, direct sales, and other end users), and application (bakery goods, sweet spreads, confectionery, and chewing gums, beverages, dairy products, and other applications) across several regionsAbout Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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