North America Saccharin Market To Be Driven By The Growing Market For Artificial High-Intensity Sweetener (HIS) During The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘North America Saccharin Market Size, Share, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the North America saccharin market, assessing the market based on its segments like Type, Application, and Regional market among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2020): USD 1.86 billion
Forecast CAGR (2023-2028): 3.5%
The expanding low-calorie sweetener industry, which has seen rising consumption throughout the continents, is assisting the saccharin market in North America. The sugar replacement business is dominated by high-intensity sweeteners. Saccharin, after aspartame and sucralose, is the most widely used artificial sweetener in the world. It now accounts for more than 10% of the worldwide artificial sweetener industry.
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The expanding usage of the low-calorie sweetener in the burgeoning beverage sector is driving global demand. The worldwide beverage market was valued at USD 5 billion in 2017 and is expected to expand in the forecast period. By volume, the sugar replacement business is dominated by North America. Saccharin is in great demand in North America as a result of the burgeoning food processing sector, increased obesity, and rising diabetes diagnoses.
The United States is the world’s largest importer of saccharin and a prominent market in the worldwide saccharin market. In the United States, saccharin is often used in diet sodas. While the United States is the largest market for saccharin and sugar substitutes, Canada and Mexico are expected to develop quicker in the coming years.
North America Saccharin Industry Definition and Major Segments
Ortho toluene sulphonamide, sodium bichromate dihydrate, sulphuric acid, and sodium bicarbonate are used to make saccharin. Artificial sweeteners are sugar replacements that have a similar taste to sugar but are lower in calories. These are made from a synthetic material.
Aspartame, saccharin, and sodium benzoate are some of the most regularly used artificial sweeteners. Aspartame has a 2000-fold sweeter taste than regular sugar. Sweeteners like saccharin have been shown to have dental decay-prevention properties, making them popular in chewing gums and toothpaste.
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On the basis of Type, the North America saccharin market is segmented into:
- Calcium
- Sodium
- Insoluble
Based on Application, the North America saccharin market is divided into:
- Food and Beverages
- Table Top Sweetener
- Personal Care
- Pharmaceutical
- Others
The major regional markets of the North America saccharin market are:
- United States
- Canada
North America Saccharin Market Trends
The market for saccharin in North America is being pushed by the continent’s growing need for low-calorie sweeteners. The rising health concerns and incidences of obesity are driving the sugar replacement and, as a result, the saccharin market in the region. Obesity affected about 40% of the population in the United States in 2017. Saccharin is mostly used in beverages in the United States, particularly carbonated soft drinks.
However, while soft drink consumption has been dropping in the United States in recent years, it has been countered by increased demand from other markets such as Mexico, resulting in a rise in carbonated beverage exports. In North America, the low-calorie sweetener has a considerable application in personal care.
The continent accounts for a sizable share of the worldwide cosmetics business. With the planned increase in the region’s high-income population, the cosmetics sector is forecast to develop at a strong rate, thus propelling the saccharin industry’s growth.
Key Market Players
The major players in the market are PMC Specialties Group Inc., Penta International Corporation, Cumberland Packing Corp., JMC Corporation, Kaifeng Xinghua Fine Chemical LTD, Tianjin North Food Co. Ltd, Blue Circle Organics Pvt. Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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