LATAM (Latin America) Saccharin Market to be Aided by the Artificial HIS Market, Expected to Attain USD 2.3 billion in 2032

The Latin America saccharin market is being aided by the growth of the artificial sweetener industry, which was estimated to be worth USD 174 million in 2017. The market is being driven by the rising demand for sugar alternatives due to the growing health consciousness and the increasing prevalence of diseases related to high-sugar consumption like obesity. According to WHO, in 2018, nearly 60% of the population in Latin America and the Caribbean were obese or overweight. Governments are taking steps to curb sugar intake in the region. While in Chile sugar-sweetened beverages are taxed, in Brazil, the Ministry of Health aims to reduce sugar by 144,000 tons in industrialised food products by 2022, working in collaboration with almost 68 companies, involving 1,147 products. The proposed taxes and reduction in sugar in products is leading to manufacturers investing in products with reduced or no sugar content, driving the market for saccharin as a sugar alternative when mixed with other low or no-calorie sweeteners like aspartame.

Brazil is a leading market for saccharin in LATAM. Brazil is a leading importer of saccharin and its salts, after the US and Germany, to meet its growing domestic demand. With saccharin finding expanding uses in cosmetics as a sweetener, the robust cosmetics market in Brazil is further aiding the industry. The country is the fourth largest beauty market, globally, driven by the willingness of consumers to spend more on luxury products. The thriving cosmetics and beverage market in the LATAM region will also aid the saccharin industry growth. While LATAM occupies a 10% market share in the global cosmetics industry, Latin America and the Caribbean region, as a whole, accounts for 17.5% of the entire market.

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Market Breakup by Type, Application, Region, and Feedstock:

• The types of saccharin can be categorised as calcium, sodium, and insoluble saccharin.
• Saccharin finds its applications in sectors like food and beverages, table top sweetener, personal care, and pharmaceutical, among others. 
• Brazil, Argentina, and Colombia are the major markets in LATAM.
• Ortho toluene sulfonamide, sodium bichromate dihydrate, sulfuric acid, sodium bicarbonate, and sodium carbonate are the common saccharin feedstock.

Key Findings in the Report:

• The rising demand for low-calorie foods and beverages in LATAM is aiding the regional saccharin market.
• The market is also being driven by the increasing population of the middle class in the region.
• The expanding sweeteners industry is propelling the saccharin market forward in the LATAM region. 
• Globally, saccharin is also finding growing use in non-food industries like the pharmaceutical sector.

Key Offerings of the Report:

• The EMR report gives the historical (2018-2023) and forecasted (2024-2032) demand and supply of saccharin by its types and regional markets in the global and LATAM markets. 
• The report provides an analysis of the global trade data, covering the value and volume of the major exporting and importing countries. 
• It also looks in-depth into the regional price trends in the LATAM market for the periods (2018-2023) and (2024-2032).
• An overview of the saccharin feedstock market in LATAM has also been provided.

JMC Corporation, HENAN KAIFENG PINGMEI SHENMA XINGHUA FINE CHEMICAL CO., LTD., TWOLIONS (ZHANGJIAGANG) FINE CHEMICALS CO., LTD., Shanghai Merry yang Enterprise Co., Ltd., among others are the key players in the LATAM saccharin market. The comprehensive report looks into their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions.

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