LATAM Saccharin Market Key Insights:
- Type: Calcium Saccharin, Sodium Saccharin, Insoluble Saccharin
- Market Analysis & Outlook 2019-2024
The LATAM saccharin market is being driven by the growing artificial high-intensity sweetener (HIS) industry. Globally, the artificial HIS market stood at nearly USD 1.8 billion in 2018. It is expected to grow further in the forecast period of 2019-2024, to attain a value of about USD 2.2 billion by 2024. The Latin America region, however, accounts for only 1% of the global artificial sweetener market. The LATAM artificial sweetener market was worth USD 174 million in 2017.
Saccharin is one of the leading artificial sweeteners available in the market with a share of about 13%. The healthy growth witnessed by the beverages industry in the LATAM region is propelling the regional saccharin industry, as it finds extensive application in the beverage segment. The beverage industry, globally, attained a value of USD 5 billion in 2017 and is expected to rise further in the forecast period. The LATAM and the Caribbean beverage industry is generating an annual revenue of USD 17.7 million and accounts for 17.5% of the global market. Brazil, a leading saccharin market in the region, has an especially robust beverage industry which is witnessing a trade surplus leading to the growth of the artificial sweetener industry in the region. Brazil is the third largest importer of the low-calorie sweetener and its salts after US and Germany.
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Properties and Applications
Saccharin is a non-nutritive artificial sweetener which is extensively used in food products like cookies, soft drinks, and candies as a substitute for sugar. While it is 300 to 500 times sweeter than sucrose or table sugar, it might give a bitter or metallic aftertaste when added in excess. Since it does not react chemically with food ingredients, it is a good option for storage. Saccharin can be further categorised as calcium, sodium, and insoluble saccharin. Its common application sectors are:
- Food and Beverages
- Table Top Sweetener
- Personal Care
The EMR report on LATAM saccharin market also analyses the feedstock like ortho toluene sulphonamide, sodium bichromate dihydrate, sulphuric acid, sodium bicarbonate. It also gives an in-depth look into regional markets like Brazil, Argentina and Colombia.
The global saccharin industry is being driven by the rising health consciousness due to the increasing number of people suffering from lifestyle diseases such as obesity and diabetes. The rising disposable incomes combined with a busier lifestyle is leading to the increasing demand for convenient food which in turn is providing an impetus to the market. Saccharin is used as a sugar substitute for household and restaurant uses in beverages like tea and coffee. The industry is also finding expanding application in other food and beverage segments like bakery and confectionary. The low-calorie sweetener is used as a flavouring agent in products such as cosmetics items and toothpaste. They are also finding uses in pharmaceutical products like vitamin tablets.
The LATAM saccharin market is being driven by the growing awareness about health and wellbeing and the increasing cases of obesity and diabetes. The industry is, thus, being driven in the region by an increasing demand for low-calorie foods and beverages. The growing population of the middle class in the LATAM region is expected to drive the industry further. The rise in the middle-class population is also leading to changes in the consumption patterns with consumers seeking sugar substitutes which are low in calories. The expanding market for sweeteners will provide further impetus to the saccharin industry growth.
The LATAM saccharin market is also aided by the thriving cosmetics industry in the region. LATAM accounted for over 10% of the global cosmetics industry in 2017. Brazil, Chile, and Colombia are the significant cosmetics market in the region. Brazil, especially, is a leading market and is the fourth largest beauty market in the world. The growth in the LATAM cosmetics industry is driving the market for saccharin in the region. It is used as a flavouring agent in products such as lipsticks, balms, and oral care products.
The report gives a detailed analysis into the following key players in the LATAM saccharin market, looking into their capacity, market share and latest developments like plant turnarounds, mergers and acquisitions, and capacity expansions:
- Kaifeng Xinghua Fine Chemical LTD
- Tianjin Changjie Chemical Co., Ltd.
- Blue Circle Organics Private Limited
- JMC Corporation
- TwoLions (Zhangjiagang) Fine Chemicals Co., Ltd.
- Shanghai Merry Yang Enterprise Co. Ltd
- Cumberland Packing Corp.
- Penta International Corporation
The EMR report gives an in-depth insight into the LATAM saccharin market by providing an analysis of the Porter’s Five Forces as well as a SWOT analysis.