The acesulfame potassium market is anticipated to flourish at an average CAGR of 5.5% between 2023 and 2033. The market is expected to hold a market share of US$ 432.3 million by 2033 while the market is likely to reach a value of US$ 253.1 million in 2023.
The global acesulfame potassium market is expected to attract substantial attention due to a wide range of applications in bakeries, food and beverage companies, cosmetic companies, and pharmaceutical companies. For modifying the bit taste of syrups and chewable tablets, acesulfame sweetener is mainly used in the pharmaceutical industry. Since acesulfame potassium or ace K is soluble, 200 times sweet than sugar, and does not affect cholesterol levels, it has no adverse effects on the human body, thereby increasing the demand for the ace K market.
Artificial sweeteners such as sucralose, aspartame, xylitol, and others are typically used in combination with sucralose to create a healthy alternative to sugar. Currently, the beverage industry is a leading consumer of acesulfame potassium, followed by the food processing and pharmaceutical industries. In the future, the global acesulfame potassium market is expected to benefit from changing patterns in the application of food additives and an increase in consumer awareness of health issues.
There are, however, restraining factors in the market which could hinder the growth of global acesulfame potassium demand because of global developments in producing bio-based food additives such as stevia. Also, prolonged consumption of artificial sweeteners such as cyclamate and saccharin has contributed to an increase in obesity, diabetes, tooth decay, insomnia, and other heart problems.
Three Factors Exacerbating a Buzz Concerning Acesulfame Potassium
Rising Health Awareness: Increasing consumer health awareness has generated an upsurge in demand for quality food products that offer advanced health benefits. Also changing usage patterns of food additives are driving the market demand for acesulfame potassium. Further, artificial sweeteners are added to different foods and beverages to reduce the overall calorie content in foods as well as preserve their nutritional values.
Changing Lifestyles: A change in lifestyle, calorie consciousness, and the rise of diabetes are all leading to customers opting for artificial sweeteners or going sugar-free, thus, aiding the market growth of acesulfame potassium.
Increasing Demand for Artificial Sweeteners: The acesulfame potassium market is gaining momentum due to the growing demand for artificial sweetening agents, as it is scientifically regarded as a superior alternative to their counterparts. This is due to its high-temperature stability, ability to prevent adverse reactions to other ingredients and preserve nutritional values. Moreover, the product is widely used in a variety of food items, such as baked goods, frozen desserts, dessert mixes, candies, tabletop sweeteners, and beverages.
Elements Holding Back the Acesulfame Potassium Market
The global developments in the production of bio-based food additives such as stevia can be viewed as a restraining factor that may slow the growth of the global acesulfame potassium market. The disadvantages of other artificial sweeteners in the portion of their continued consumption include tooth decay, insomnia, obesity, the risk of heart problems, and diabetes, which are expected to aid this market’s growth at a steady CAGR.
Country-wise Insights
How North America is Performing in the Acesulfame Potassium Market?
North America is anticipated to experience stagnant market growth in demand for acesulfame potassium. In 2022, the United States held a maximum acesulfame potassium market share of 22.1% due to its mature food processing and pharmaceutical markets.
Recently, a countrywide nutrition survey found that 25% of youth and 41% of seniors consumed beverages and foods containing low-calorie sweeteners like sucralose, aspartame, and saccharin.
How is Europe’s Acesulfame Potassium Market Growing?
There is a significant share of 21% expected to be captured by Europe’s acesulfame potassium market. It is due to the European Commission initiating an anti-dumping proceeding regarding imports of acesulfame potassium originating in the PRC as well as acesulfame potassium originating in the PRC included in preparations or mixtures such as other sweeteners and/or water. Nevertheless, the adoption of acesulfame potassium in cosmetics such as lipstick may likely result in slow acesulfame potassium market growth.
How is Asia Pacific Dominating Acesulfame Potassium Market?
In terms of the global demand for acesulfame potassium, Asia Pacific is anticipated to become the significantly growing and dominating region by the end of the forecast period. As a result of its use in diet food preparation and carbonated drinks, China is the world’s leading producer and consumer of acesulfame potassium.
China was the leading supplier of acesulfame potassium in 2022. On the other hand, India is likely to depict a favorable end-user acesulfame potassium market, owing to its joint ventures and expansions with other beverage giants such as The Coca-Cola Company.
