The increasing number of diabetic patients and the Increasing experimentation with diet are boosting the North America Acesulfame Potassium market.
North America Acesulfame Potassium Market Size – USD 690.0 Million in 2019, Growth - CAGR of 4.0%, Trends – The increasing demand for North America Acesulfame Potassium in zero-calorie beverages
The Global North America Acesulfame Potassium market is forecast to reach USD 989.0 Million by 2027, according to a new report by Reports and Data. The rising awareness about the role diet plays in the functioning of the health, growing experimentation with different types of diets like Paleo Diet, Keto diet, consideration of this sweetener as a keto-friendly sugar alternative as its every half-gram of serving contains only 0.5 g of net carbs and rising incidence rate of diabetes are some of the factors fostering the growth of the market. The approval of its use as a flavor enhancer and general-purpose sweetener by various agencies, like the FDA, which approved its use as a general-purpose sweetener in 2003, acted as a major contributing factor for the growth of the market, leading to its widespread application. Though various supporting market factors have been fostering the market growth, the COVID-19 pandemic may have a retarding impact on the growth of the sector, as China, one of the major supplier of the sweetener, has been under lockdown till 8th April, when a large number of manufacturing plants were not operational. It may result in supply chain issues like shortage and delay in supply.
The COVID-19 Impact: One of the immediate adverse impact of the global pandemic on the market has been reduced product manufacturing and delayed supply. It can be observed from the scenario of its major end-users like carbonated drink manufactures, as an instance, Coca-Cola. The company in its annual report has revealed that issues with availability of the artificial sweetener caused in their delayed production and supply of zero-sugar and diet drinks. Thus, it may have a negative impact on the growth of the sector, which would be particularly observed in the first three quarters of 2020.
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Key Companies in the market include:
Merck KGaA, Suzhou Hope Technology Co. Ltd Spectrum Laboratory Products Inc, Tokyo Chemical Industry Co. Ltd, Anhui Jinhe Industrial Co. Ltd, Celanese Corporation, Vitasweet Co., Ltd, Jiangxi Beiyang Food Additive Co., Ltd, Fuerst Day Lawson Limited, and Zhejiang Sanhe Food Science Technology Co., Ltd.In context to Product Type, the Liquid segment is projected to witness a considerable growth rate of 4.7% during the forecast period. The growth of the pharmaceutical sector and elevating demand of various medications in liquid form due to its fast action and quick absorption would contribute to the growth rate witnessed by this segment as for manufacturing these medications; the sweetener would be preferred in liquid form.
In regards to Grade, the Food grade is projected to hold more than 40.0% of the market in 2019. Traits of this artificial sweetener like heat stability, rapid solubility, ability of enhancing the flavor and approval for use in food beverages in more than 100 countries have resulted in the high demand of this sweetener in food grade for manufacturing confectionery bakery, beverages, dairy, processed food among various other food beverage products.
In context to Application, the Pharmaceutical segment is projected to witness a growth rate of 4.4% during the forecast period. The growth rate witnessed by the Pharmaceutical segment is attributed to the applicability of this artificial sweetener in compressed tablets, effervescent tablets, chewable tablets, medical gums, medical teas among other products in the pharmaceutical sector, contributing to the growth rate witnessed by this segment.
A study conducted on analyzing the antiglycation potential of this sweetener revealed the fact that it has the ability to minimize the formation of AGEs and Amadori products establishing its antiglycation potential. Such findings would support the expansion of the industry and open new ways of marketing the product on the part of the market players.
The high rate of obesity, diabetes, along with developed pharmaceutical companies, would support the growth of the market in North America.
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Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global North America Acesulfame Potassium market report:
- What is the expected market size of the global North America Acesulfame Potassium market during the forecast period?
- What factors are expected to hamper global North America Acesulfame Potassium market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global North America Acesulfame Potassium market?
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