Asia-Pacific is depicted to have maximum growth and held more than half of saccharin market share in production as well in consumption. The expanse in food & beverage sector and pharmaceutical industry in this region will escalate the growth of the industry. China is expected to lead the production of saccharin in upcoming years, followed by India and Korea. Europe is also emerging as a fastest growing region due to rapid increasing health concerns and a steady growth in the regional food & beverage industry.
saccharin market size is likely to witness a healthy demand from 2016 to 2024 owing to rising instances in diabetes and growing health concern around the globe.
Saccharin is an artificial sweetener which is 300 to 500 times sweeter than sugar with zero calories. It is unrivalled among all other high sweetener intensity products owing to its stability, cost effectiveness, compatibility and absence of side effects.The product is mainly used by diabetic patients as it doesn’t 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. Furthermore, it is used as an intermediate product to manufacture agrochemicals, animal feedstock, etc.
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Food & beverage industry will be a major quotient for saccharin market growth owing to rising health concern and upgrading lifestyle of people around the world. It is usually used in low calorie or sugar free products such as candies, cookies, jams, tea, coffee, etc. which will propel the growth of saccharin market in coming years. Changing dietary preferences of consumer and health consciousness in developing countries will lead to an increase in demand during the forecast timeframe.
Increase in health-related problems such as obesity, diabetes, vitamin deficiency, etc. will augment the pharmaceutical industry development which will in turn lead to the product market growth. According to WHO report in 2015, the prevalence of obesity and diabetes has almost quadrupled since 1980. The use of saccharin as a coating to alter the bitter taste of medicines such as calcium tablets, chewable multivitamin tablets, etc. will propel the market growth.
The primary hindrance in the growth path of product market is the metallic or bitter aftertaste of saccharin when used at high concentration. The other reason that will encumber the market growth is allergic reaction caused by product such as headache, diarrhea, breathing and skin problems, etc. According to many health groups the use of product is limited in pregnant women, children and infants.
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Based on the product type, the market is categorized into insoluble and soluble saccharin market. Insoluble saccharin includes acid saccharin which is used mostly in pharmaceutical industry and is slightly soluble in water. Soluble saccharin is segmented as sodium and calcium saccharin. Sodium saccharin has wide spectrum of application which include coating on drugs, electroplating fluid to coat metals such as nickel and gold, table top sweeteners, etc. It is expected that sodium saccharin will account for a major chunk of market share owing to its excessive use in food and beverage, personal care & cosmetics, pharmaceuticals, electroplating solutions industry, etc.
Based on form, the market is bifurcated as granular form and powder form. The powder form is dry mix in substances such as in pharmaceutical industry, cosmetic industry etc. and is likely to account for a significant share of the overall industry during the forecast period.
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The key participants in the market include PMC Specialties Group, Salvi Chemicals, Productos Aditivos, Kyung-In Synthetic Corporation (KISCO), Shree Vardayini. Some other notable participants are 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, Shanghai Fortune Chemical Co. Ltd, Spirochem Lifesciences Pvt. Ltd., DK Pharmachem.
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