Asia Pacific Saccharin Market Report and Forecast 2024-2032

Asia Pacific Saccharin Market Outlook

The Asia Pacific saccharin market is being aided by the healthy growth in the production of saccharin in China. In 2020, China produced 16,225.68 tonnes of the low-calorie sweetener.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The global growth of the artificial high-intensity sweetener industry is also aiding the Asia Pacific market. The global artificial HIS market is expected to see a moderate growth in the forecast period of 2024-2032, and is expected to attain a value of about USD 2.3 billion by 2026.

In Asia, the industry for low-calorie sweetener is witnessing a growth due to the rising demand for lower calories substitutes of sugar in the region. In 2018, Asia accounted for nearly a fifth of the low-calorie sweetener market in terms of global consumption. The low-calorie sweetener consumption in Asia stood at about USD 342 million in 2018. The growth in this segment of sweeteners in the continent is also aiding the growth of the regional saccharin market. China is not just the largest saccharin market in the Asia Pacific region but also the world. However, a majority of China’s production of the sweetener is exported either within Asia or is bound towards the EU. The global exports of saccharin led by China is being driven by a rising demand from the personal care and beverage industries.

Asia Pacific Saccharin Market Segmentation

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

Globally, the saccharin industry is expected to be driven by calorie-conscious consumers in the coming years. The market is also finding further impetus in the increasing use of artificial sweeteners in segments like baking industry, frozen foods, and other ready-to-eat foods.

The Asia Pacific market is being aided by the growing population in Asia and the growing beverage industry in key markets like China and India. The growing economy in the Asia Pacific region is driving the saccharin industry in the region due to the rising disposable incomes and changes in food habits. In India, the GDP saw a 7.4% growth in the Q2 of 2018. The saccharin market in India is aided by the growing food and beverage segment in the country. The food and beverage sales in India is expected to grow annually by 13.1% between 2018-2023. In China, the largest food and beverage market in the Asia Pacific region is expected to grow at an annual rate of 10.7% till 2021. Hong Kong, specifically, is witnessing a robustly growing personal care, health products, and beverages segments, which are driving the saccharin industry growth in the region. The growth in the beverage industry in Hong Kong is being driven by a rising demand for healthier and low sugar products, which is also aiding the market for the low-calorie sweetener. The growth in the personal care and health products segments is further propelling the industry growth as saccharin is widely used as a flavouring agent in products like lip balms, lipsticks, toothpaste, medicines, and other products.

While China is currently the leading producer and exporter of saccharin, its production in China may be affected by the implementation of strict environmental policies, which have found its manufacturing process deficient in the treatment of wastewater. This expected setback in China’s saccharin production might slow down the Asia Pacific market in the coming years.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

The report analyses the following key players in the Asia Pacific saccharin market, looking into their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

• Shree Vardayini Chemical Industries Pvt. Ltd.
• JMC Corporation
• Henan Kaifeng Pingmei Shenma Xinghua Fine Chemical Co., Ltd.
• Two Lions (Zhangjiagang) Fine Chemicals Co., Ltd.
• Shanghai Fortune Chemical Co.,Ltd.
• Salvi Chemical Industries Ltd.

The EMR report gives an in-depth look into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces.