According to a recent report by Future Market Insights, the artificial sweetener market is expected to grow at a CAGR of 3% during the forecasted period 2022-2032 and is estimated to reach a market size of USD2.8bn.
Due to the easy access to nearly infinite information, consumers are becoming more aware of their nutritional needs. As a result, consumers are more aware of the importance of making more healthy food and beverage choices. They are increasingly demanding healthier, lower-calorie foods and beverages as their health concerns grow.
As people’s health conditions deteriorate, there is an increased demand for low-calorie food and beverage products to assist them in maintaining a healthy diet. Most health-conscious consumers prefer sugar substitutes because they contain fewer calories than regular sugar. Sugar substitute consumption contributes to the health benefits enjoyed by health-conscious consumers and can support losing weight and managing diabetes. Because artificial sweeteners do not contain carbohydrates, they do not raise blood sugar levels. Sugar substitutes have almost no calories, whereas a teaspoon of sugar has about 16 calories. Stevia is a sugar substitute that is hundreds of times sweeter than sugar and has almost no calories.
Key Takeaways from Recent Study
- Russia contributes around 20% to the European Artificial Sweetener market. The market in the country is mainly driven by the consumption of bakery and alcoholic beverages.
- New tax regime introduced by the Government of the United Kingdom to reduce consumption of sugar-based products has increased the demand for artificial sweeteners.
- In China the artificial sweetener market is expected to grow at a CAGR of 3.5%.
- Rise in cases of diabetes in India increases the demand for artificial sweetener market and this demand is expected to grow in the forecasted year.
Artificial sweetener market in Australia is expanding at a faster rate and it mainly includes the beverage segment.