Saccharin Market Size, Share, Growth, And Industry Analysis By Type (Insoluble Saccharin, Soluble Saccharin) By Application (Food & Beverage, Pharmaceuticals, Daily Chemical, Other) Regional Forecast (2022-2028)

Report Overview

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The global saccharin market size was USD 128.9 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with saccharin market experiencing lower -than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 103.9 million by 2028, exhibiting a CAGR of -3.0% during the forecast period. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Saccharin is a high-intensity sweetener used as sugar alternative or sugar substitute. It is white, crystalline powder that is 200 to 700 times sweeter than table sugar (sucrose) and does not contain any calories as per the USDA. Saccharin is prepared by the oxidation of phthalic anhydride as well as from o-toluene sulfonamide. Saccharin brand name includes Sweet and Low, Sweet 'N Low, Sweet Twin, and Necta Sweet. It is commonly used to sweeten products such as beverages, fruit juice drinks, candles, jellies as well as in mouth washes and as part of the tablet coating in medicines. It has metallic and bitter taste when consumed in high concentrations. According to FDA, children and adults can consume up to 2.3 mg of saccharin per pound (5 mg per kg) of body weight without risk.

The global saccharin market is driven by increase in demand for low calorie sugar substitutive such as saccharine. The consumers are becoming health-conscious owing to which manufacturers are using saccharin as ingredient for making products such as cookies, fruit juice drink, baked goods, and dessert toppings. Moreover, saccharin consists of longer shelf life than sugar. Apart from this, it also finds application in the pharmaceutical industry to produce mouthwash, toothpaste, cough syrups, and teeth whiteners. According to the International Diabetes Federation, 425 million adults are living with diabetes and it is expected that this will rise to 625 million by 2045.

COVID-19 Impact: Closing Down of Business Hampered the Market Growth

With the beginning of Coronavirus all over the planet, pretty much every area and industry in the economies endured adversely. With the closing down of businesses and tasks stopping, the worldwide interest for saccharin and related items diminished. With the decrease in the development of the food and refreshment industry, beauty care products, and individual consideration, the saccharin market was essentially impacted.

Latest Trends

"Increase in Health-Conscious Consumers to Increase in Market Growth"

The developing wellbeing cognizance among individuals and the rising mindfulness in regards to the adverse consequence of high sugar utilization is supposed to drive up the interest for saccharin before long. Other than that, the developing drug industry, fueled by the rising interest for individual consideration items like mouth wash, toothpaste, teeth whiteners, and so on, is additionally expected to enhance the saccharin market development. Likewise, the timeframe of realistic usability of saccharin is longer than that of sugar, which can emphatically influence its interest in the years to come. The presence of a wide assortment of other counterfeit sugars in the market can hamper the development of the saccharin market before very long.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Insoluble Saccharin, Soluble Saccharin. Insoluble Saccharin is being the leading segment of the market by type analysis.

• By Application Analysis

Based on application, the market can be divided into Food & Beverage, Pharmaceuticals, Daily Chemical, Other. Food & Beverage being the leading segment of the market by application analysis.          

Driving Factors

"Expanding Concerns In Regards To Wellbeing Awareness To Drive Up The Market"

With the adjustment of individuals' expectations for everyday comforts, wellbeing mindfulness has turned into an essential thought process. This has seriously impacted sugar utilization because of the different wellbeing concerns related with it, similar to various infections, including weight, tooth rot, heart illnesses, type 2 diabetes, certain tumors, non-alcoholic greasy liver sickness, and so on. As per WHO, diabetes was the 10th driving reason for death in 2019, and around 1.5 million passings were straightforwardly brought about by diabetes. Since Saccharin doesn't add to an individual's energy and contains no calories or starches, it has turned into a sugar substitute, particularly for diabetic patients and individuals who need to get thinner. Saccharin is 300-500 times better than sugar, so it must be utilized in negligible sums as a sugar in food items. FDA approved saccharin to be utilized in the items like refreshments, organic product juice drinks, handled food varieties, and as a sugar substitute for cooking and table use.

"Increased Use of Saccharin in Drug Industry to Boost the Market Growth"

Other than being exceptionally requested in the food and drinks industry, saccharin is additionally broadly utilized in the drug area and individual consideration items as a counterfeit sugar. Since drugs are horrendous to taste, various sugars like sodium saccharin are added to them to beat this bother. Likewise, since saccharin isn't matured into corrosive by the microbes in the mouth, in this way its trade for sugar can likewise help in diminishing oral pits, subsequently making it a sugar elective in prescriptions, toothpaste, and mouthwashes, nutrient syrups, and so on.

Restraining Factors

"Presence of other Fake Sugars on the Lookout to Restrict the Market Growth"

In spite of the fact that FDA and WHO mark Saccharin as a protected and no-risk item, a few past debates in regards to Saccharin being a potential cancer-causing agent impacted its market. This made saccharin less well known contrasted with other fake sugars like Aspartame, Acesulfame potassium, Neotame, Sucralose, and so forth. Subsequently, the presence of many substitutes and high rivalry from them is supposed to influence the market adversely over the long haul.

Regional Insights

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"Utilization of Low-Calorie Food in the North American Region to Increase the Market Growth"

North America is one of the significant buyers of these items all around the world. One of the significant drivers is the developing need to bring issues to light of low-calorie food utilization in the area. The notoriety of good food sources and drinks among the North American populace is the central point expected to drive the sugar substitutes market development. Food patterns in the U.S. have moved emphatically because of financial and segment shifts. The more youthful age values exploring different avenues regarding new and imaginative items, and mindfulness about diet-related illnesses combined with administrative changes in the U.S. think about sugar expansion in least or required sum. Also, the food and drink industry are progressively supplanting sugar with counterfeit sugars in numerous items that generally contain sugar.

In Asia Pacific, industrialization has prompted an expansion in discretionary cashflow among the working-class populace. This has expanded the interest for wellbeing improving items, including great and nutritious food items. The interest for low-calorie food varieties and refreshments in Asia Pacific is expanding. This increment is because of rising wellbeing cognizance among buyers, consequently driving the market development. Sugar options are normally utilized in refreshments, frozen yogurts, powdered drink blends, sauces, jams, puddings, confections, dairy items, powdered drink blends, and other refined food varieties.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Kaifeng Xinghua (China)
• Tianjin Changjie (China)
• PMC Specialties (U.S.)
• Tianjin North Food (China)
• Shanghai Fortune (China)
• Two Lions (U.S.)
• Productos Aditivos (Spain)
• Salvichem (India)
• JMC (India)
• Shree Vardayini (India)
• Vishnuchrome (India)
• Aviditya Chemicals (India)
• D K (India)
• PT Bantang Alum (Indonesia)
• PT. GOLDEN SARI (Indonesia)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.