Global Saccharin Market By Form (Dry, Liquid), Product Type (Sodium, Calcium, Insoluble Saccharin), Application (Food & Beverages, Agrochemicals & Chemicals, Dietary Supplements, Table-Top Sweeteners, Personal Care & Cosmetics Products, Pharmaceuticals, Electroplating Solutions, Others)
Market Definition: Global Saccharin Market
Saccharin can be defined as a chemically formulated artificial sweetener which has zero or no amount of nutritional value essentially that mean it contains no amount of calories, although containing around 300-400 more sweeting capabilities than sucrose. This product is majorly utilized in a number of beverages, pharmaceuticals, and various food products as the limited amount of this is significantly more effective than its alternatives.
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Market Drivers:
• Increasing initiatives undertaken by various pharmaceutical and manufacturing organizations to promote the usage of saccharin as an artificial sweetener; will augment the growth of this market
• Changes in the lifestyle and preferences of the consumers to reduce their sugar intakes and promote weight management; is expected to drive the market growth
• Rising health consciousness among the consumers related to low calorie or carbohydrate intake drives the market growth
• Increase purchase power of the consumer in the North America and European region with the expansion of food and beverage industry
Market Restraints:
• Concerns regarding effects on the health of individuals causing side effects such as headache, diarrhea, allergies and others is expected to restrains the market growth
• Lack in preference of the product due to the metallic taste of the product if used in high concentration; this factor is expected to restrain the growth of the market
Market Analysis: Global Saccharin Market
Global saccharin market is expected to register a steady CAGR of 4.38% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing concerns regarding diabetes, obesity and health of the individuals.
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Global Saccharin Market Segmentation:
By Form
• Dry
o Granular
o Powder
• Liquid
By Product Type
• Sodium
• Calcium
• Insoluble Saccharin
By Application
• Food & Beverages
o Bakery & Confectionary
o Soft Drinks, Energy Drinks & Carbonated Drinks
o Others
o Jams
o Thinned Fruit
o Others
• Agrochemicals & Chemicals
• Dietary Supplements
• Table-Top Sweeteners
• Personal Care & Cosmetics Products
• Pharmaceuticals
• Electroplating Solutions
• Others
o Animal Nutrition
o Tobacco
o Others
By Distribution Channel
• Business-To-Business (B2B)/Direct Sales
• Business-To-Consumers (B2C)/Indirect Sales
o Online Retail
o Specialty Stores
o Mass Grocery Stores
Competitive Analysis: Global Saccharin Market
Global saccharin market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of saccharin market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market:
In April 2019, Omkar Speciality Chemicals Ltd. announced that they had received a specialty patent from the “Intellectual Property” division of Government of India for the production of sodium saccharin (2, 3- Dihydroxy-1,2- benzisothiazol-3-one-1,1-dioxide). The process is an eco-friendly and safe production service, resulting in better environmental awareness of the product.
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