Saccharin Market Analysis:
Saccharin is a well-known artificial sweetener which is 300 to 500 times sweeter than sugar with zero calories. Its stability, cost effectiveness, compatibility and absence of side effects makes it a popular alternative in many industries like the food and beverage industry especially as a replacement for sugar. It is widely used in the production of candies, cookies, jams, tea, coffee, etc. The product is mainly used by diabetic patients as it does not spike the sugar level of the body and is easily removed from the body without being absorbed through renal defecation, adding no nutritional value to the body. It is also used as an intermediate product to manufacture agrochemicals, animal feedstock, etc. Increase in health-related problems such as obesity, diabetes, vitamin deficiency, etc. is expected to augment the pharmaceutical industry development which will in turn lead to the product market growth. Therefore, it can be presumed that changing dietary preferences of consumers and health consciousness in various developing countries is expected to lead to an increase in demand during the forecast timeframe. Apart from food & beverage and pharmaceutical, other industries making use of this product include personal care & cosmetics, agrochemicals & chemicals, electroplating solutions, and others such as animal nutrition, tobacco, etc.
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What is the Size of Saccharin Market?
According to the research report developed by Research Cosmos, the saccharin market was valued at USD191.681 billion in 2017 and is projected to expand at a CAGR of 3.14% over the forecast period to reach USD 228.935 billion by 2025.
Saccharin Market Regional Growth Analysis:
The global saccharin market recorded a value of USD 260 Million in 2017. Asia-Pacific is recorded to have maximum growth and held more than half of saccharin market share in production as well in consumption because of its extensive usage in the expanse of food & beverage sector and pharmaceutical industry. China is also expected to lead the production of saccharin in upcoming years, followed by India and Korea. Europe is emerging as a fast-growing region due to the rapid increasing health concerns and a steady growth in the regional food & beverage industry.
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Saccharin Market – Key Players:
The key participants in the market include PMC Specialties Group, Salvi Chemicals, Productos Aditivos, Kyung-In Synthetic Corporation (KISCO), Shree Vardayini, Vishnu Chemicals, Aviditya Chemicals & Pharmaceuticals, PT. Batang Alum Industrie, Tianjin Changjie Chemical Co. Ltd, Tianjin North Food Co. Ltd, Newseed Chemical Co., Limited, Kaifeng Xinghua Fine Chemicals ltd, etc.
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