LONDON--(BUSINESS WIRE)--The global saccharin market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global saccharin market is the increasing demand for low-calorie sweeteners. Factors including sedentary lifestyles, advances in transportation, and improved infrastructure facilities are adversely impacting the health of the consumers. Calories often gained from sweeteners are not burnt due to the lack of physical activity, eventually, leading to obesity and overweight. This has spurred the demand for healthier alternatives like low-calorie sweeteners, including saccharin. Consumers are increasingly choosing low-calorie sweeteners to cut down on their calorie intake. Thus, the increasing demand for low-calorie and zero-calorie sweeteners will eventually drive the demand for saccharin during the forecast period.
As per Technavio, the growing emphasis on online sale of saccharin will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global saccharin market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global saccharin market: Growing emphasis on online sale of saccharin
Online retailers are offering significant growth potential for the saccharin market. Online retailers provide additional discounts and convenient delivery options as opposed to conventional stores, including hypermarkets, discount stores, supermarkets, and other retail stores. Online stores also offer secure payment options which help to avoid the billing queues in traditional retail outlets. Furthermore, online retail stores also offer enhanced visibility of the various saccharin products being offered by different vendors and provide detailed reviews about the products. These advantages of online platforms will drive saccharin sales during the forecast period.
“Online retailing is helping saccharin manufacturers avoid the huge investment costs involved in offering saccharin through physical stores. Also, it is helping vendors increase the sale of saccharin products to the internet-savvy customer segment. These benefits are encouraging vendors to venture into the sale of saccharin products through the online channel,” says a senior research analyst at Technavio.
Global saccharin market: Segmentation analysis
This market research report segments the global saccharin market by application (food and beverages; and personal care, pharmaceuticals, and others) and geographic regions (APAC, Europe, MEA, North America, and South America).
APAC led the market in 2018, followed by Europe, MEA, North America, and South America respectively. The market growth in APAC can be attributed to the growing use of low-calorie food and beverages by a large number of people suffering from health issues associated with obesity and overweight. The availability of saccharin products through different retail channels will also support the market’s growth in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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