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Global Saccharin Market to Grow at a CAGR of 2.3% between 2021-2026.
According to a new report by EMR titled, ‘Global Saccharin Market Report and Forecast 2021-2026’, the global saccharin market reached 33 kilo metric tons in 2020, growing by about 5.7% from 2017. The market is further projected to grow at a CAGR of 2.3% in the period 2021-2026.
Saccharin is a high intensity artificial sweetener which is 300 to 500 times sweeter than sucrose/sugar while also carrying zero calories. It is preferred over other high intensity sweeteners as it has no side effects and is more cost effective than the other available options. The stability and compatibility of saccharin also makes it a popular option. Saccharin is mostly consumed in the food and beverage sector, with the rising demand for low calorie foods and the growing disposable income among the consumers.
The saccharin market has been driven by rising health concerns and growing awareness of the detrimental effects of sugar. The increase in the number of cases of diabetes and obesity, which have quadrupled since 1980 according to a 2016 report by WHO, have been driving the saccharin market. Saccharin is a particularly popular sweetener among diabetic patients as it passes through the body without being absorbed or adding to the sugar level of the body. It is also finding growing use in the pharmaceutical sector where it is used to mask the bitter flavour of medicines like calcium and multivitamin tablets.
The Asia Pacific sector has been rapidly growing over the last few years. The region accounts for over half of the global production and consumption of saccharin with the rising demand for saccharin in the food and beverage, and pharmaceutical industries driving the market. China is expected to be the largest saccharin producer in the coming years followed by other Asia Pacific countries like India and Korea. The European saccharin market is experiencing a healthy growth due to rising health concerns and the expansion of its application in the food and beverage sector.
Market Analysis by Type, Application and Region:
- Sodium, calcium and insoluble saccharin are the major saccharin types explored in the EMR report.
- Saccharin finds its major application in the food and beverage, table top sweeteners, personal care, and pharmaceutical sectors, among others.
- Region-wise, the global saccharin market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Key Findings of the Report:
- Growing concerns about health along with rising cases of diabetes have been the driving factors behind the growth of the saccharin market.
- It is widely used in the food and beverage sector as a sweetener in products like cookies, soft drinks and candies.
- It is also used to mask the bitter taste of medicines in the pharmaceutical sector.
- Companies manufacturing anaerobic adhesives, pesticides, herbicides and insecticides are increasingly using saccharin in the manufacturing of these products.
- Sodium saccharin is the most popular saccharin type finding rising application in the food and beverage sector.
Key Offerings of the Report:
- The report by EMR provides the historical (2016-2020) and forecasted (2021-2026) production and consumption of saccharin types.
- The report also gives a detailed region-wise historical (2016-2020) and future (2021-2026) production and consumption of saccharin, along with price trends.
- It analyses the trade data of the major saccharin exporting and importing countries by their value and volume share in 2020.
- It also gives insights into the market outlook of the saccharin feedstock.
Kaifeng Xinghua Fine Chemical Ltd., Shanghai Merry Yang Enterprise Co. Ltd., Tianjin Changjie Chemical Co. Ltd., Tianjin North Food Co. Ltd., PMC Specialties Group, Inc., Blue Circle Organics Pvt. Ltd., Vishnu Chemicals Limited, Organic Industries Pvt. Ltd., Aviditya Chemicals and Pharmaceuticals, and Salvi Chemicals are the major players in the global saccharin market analysed by EMR. The EMR report gives a detailed look into the latest developments amongst these key players like their capacity expansions, plant turnarounds, and mergers and expansions.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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