Saccharin Global Market Report 2024

The saccharin market size has grown steadily in recent years. It will grow from $1.39 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The increase observed in the historical period can be attributed to factors such as the rise in the diabetic population, increased demand for low-calorie and sugar-free products, government regulations on sugar consumption, growth in the food and beverage industry, and the cost-effectiveness of saccharin production.

The saccharin market size is expected to see steady growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The anticipated growth in the forecast period can be attributed to factors such as the increasing awareness of health, expansion of the functional food market, a rise in obesity and metabolic disorders, the increased adoption of low-glycemic diets, and global population growth. Noteworthy trends expected during the forecast period include technological innovations in sweetener blends, advancements in food technology, a focus on clean label and natural sweeteners, the popularity of plant-based and vegan products, and research and development emphasis on taste enhancement.

The projected surge in the consumption of calorie-free and sugar-free foods is poised to drive the growth of the saccharin market in the foreseeable future. Calorie-free signifies that the food has minimal or no calories, exerting little to no impact on the body. On the other hand, sugar-free denotes that a food item contains less than half a milligram of either artificial or naturally occurring sugar. The escalating preference for calorie-free and sugar-free foods is anticipated to propel the saccharin market forward, given saccharin's role as a sugar substitute with low or zero calories. In 2022, the International Food Information Council reported that nearly three-quarters (73%) of Americans are actively seeking to reduce (59%) or eliminate (14%) sugar intake. Additionally, there is a notable inclination among 31% of Gen Z and 30% of millennials to opt for low or no-calorie sugars in the US. Hence, the heightened consumption of calorie-free and sugar-free foods acts as a driving force for the saccharin market.

The increasing trend of people embracing dieting is expected to contribute to the growth of the saccharin market in the years ahead. Dieting involves the conscious control of food intake, often aimed at achieving specific health-related objectives such as weight loss, weight maintenance, or overall well-being improvement. Saccharin, a prevalent sugar replacement, is extensively used in various food and beverage products targeted at individuals practicing dieting or aiming to curtail their sugar consumption. According to the 2022 Food and Health Survey by the International Food Information Council, the percentage of Americans adhering to a diet or eating pattern surged to 52% in 2022 from 39% in 2021. This dietary shift highlights an increased reliance on saccharin as a sugar alternative, contributing to the growth of the saccharin market.

The escalating prevalence of diabetes and hyperglycemia globally is set to fuel the growth of the saccharin market in the coming years. Diabetes, characterized by elevated blood sugar levels, and hyperglycemia, marked by increased blood glucose levels, necessitate dietary adjustments, making saccharin a suitable sugar alternative for individuals dealing with these conditions. Statistics reveal a substantial impact, with one in every twenty Australians affected by diabetes, amounting to 1.3 million people or 5.3% of the population. Similarly, the National Diabetes Statistics Report for 2022 indicated that diabetes affects 38.4 million individuals, constituting 11.6% of the population in the United States. This prevalence underscores the pivotal role of saccharin as a sugar substitute in managing diabetes and hyperglycemia, driving the saccharin market's growth.

In March 2021, Sugar Corporation, the largest producer of sugarcane and a privately owned agricultural business in the US, acquired the business and assets of Imperial Sugar Company for an undisclosed amount. The acquisition aimed to enhance the efficiency of Imperial Sugar's refinery, resulting in increased production at reduced costs, ultimately benefiting Sugar Corporation's consumers. Imperial Sugar Company is a US-based producer of powdered sugar.

Major companies operating in the saccharin market report are Vishnu Chemicals Ltd., JMC Corporation, Sigma-Aldrich Corp, Shanghai Fortune Techgroup Co. Ltd., Kyung-In Synthetic Corporation, Cumberland Packing Corp., Productos Aditivos SA, Mubychem Group, PMC Specialties Group, Batang Alum Industrie Co, V Chem Trading Ltd., Henan Kaifeng Pingmei Shenma Xinghua Fine Chemical Co. Ltd., Salvi Chemicals Industries Ltd., Tianjin Changjie Chemical Co. Ltd., Shaanxi Greenbo Biochem Co.Ltd., Silverline Chemicals Ltd., Fortway Chemicals Co. Ltd., DK Pharmachem Pvt Ltd., A.S.Chemopharma Pvt Ltd., Shree Vardayini Chemical Industries Pvt Ltd., Aviditya Chemicals And Pharmaceuticals, TwoLions Zhangjiagang Fine Chemicals Co. Ltd., Jiangxi Dongxu Chemical Science And Technology Co. Ltd., Foodsweet Co. Ltd., NS Chemicals Private Limited, NS Chemicals Private Limited, Blue Jet Healthcare Pvt. Ltd., Merisant Worldwide Inc., Tianjin North Food Co. Ltd., Suzhou Fine Chemicals Co. Ltd., Glentham Life Sciences Limited.

Asia-Pacific was the largest region in the saccharin market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the saccharin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the saccharin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The saccharin market consists of sales of acid saccharin and potassium saccharin. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The main saccharin products include sodium saccharin, insoluble saccharin, and calcium saccharin. These products are available in various forms, including dry and liquid. 'Dry' refers to being free of fluid or moisture, lacking natural or usual wetness, or no longer being wet. Saccharin finds applications in food and beverages, tabletop sweeteners, personal care products, pharmaceuticals, and other industries.

The saccharin market research report is one of a series of new reports that provides saccharin market statistics, including saccharin industry global market size, regional shares, competitors with a saccharin market share, detailed saccharin market segments, market trends and opportunities, and any further data you may need to thrive in the saccharin industry. This saccharin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.