Saccharin Market

The global saccharin market is expected to continue an upward consumption trend, with market performance forecasted to expand steadily. Consumption of saccharin and its salts increased in 2022 after five years of decline, reaching 23K tons. The market value is projected to increase to $253M by the end of 2030. China remains the largest producer and exporter of saccharin, while the United States, Brazil, and Germany are the top importers. Prices and volumes fluctuated over the years, with the average annual growth rate showing a stable trend. This comprehensive analysis provides valuable insights into the global saccharin market.

Market Forecast

Driven by increasing demand for saccharin and its salts worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 26K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $253M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Saccharin And Its Salts

In 2022, consumption of saccharin and its salts was finally on the rise to reach 23K tons after five years of decline. The total consumption volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, global consumption reached the peak volume at 25K tons in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

The global saccharin market size rose sharply to $190M in 2022, increasing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $229M. From 2017 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.3K tons), Brazil (2.5K tons) and the United States (2.4K tons), with a combined 36% share of global consumption. Spain, Germany, Cuba, Pakistan, Japan, Bangladesh, Turkey, Argentina, the Netherlands and the UK lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of +30.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest saccharin markets worldwide were the United States ($26M), China ($23M) and Brazil ($22M), together accounting for 37% of the global market. Spain, the UK, Germany, Japan, Argentina, Turkey, the Netherlands, Pakistan, Bangladesh and Cuba lagged somewhat behind, together comprising a further 28%.

Among the main consuming countries, Cuba, with a CAGR of +23.0%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of saccharin per capita consumption was registered in Cuba (69 kg per 1000 persons), followed by the Netherlands (26 kg per 1000 persons), Spain (26 kg per 1000 persons) and Argentina (11 kg per 1000 persons), while the world average per capita consumption of saccharin was estimated at 2.9 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the saccharin per capita consumption in Cuba stood at +30.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+10.2% per year) and Spain (+7.2% per year).

Production

World Production of Saccharin And Its Salts

In 2022, production of saccharin and its salts increased by 3.4% to 22K tons, rising for the second year in a row after three years of decline. Overall, production showed a relatively flat trend pattern. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, saccharin production stood at $155M in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 16% against the previous year. As a result, production attained the peak level of $190M. From 2017 to 2022, global production growth remained at a lower figure.

Production By Country

China (18K tons) remains the largest saccharin producing country worldwide, accounting for 83% of total volume. Moreover, saccharin production in China exceeded the figures recorded by the second-largest producer, South Korea (2.1K tons), ninefold. India (807 tons) ranked third in terms of total production with a 3.7% share.

In China, saccharin production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+0.4% per year) and India (+562.1% per year).

Imports

World Imports of Saccharin And Its Salts

In 2022, approx. 22K tons of saccharin and its salts were imported worldwide; dropping by -9.9% compared with 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 15%. As a result, imports reached the peak of 25K tons. From 2021 to 2022, the growth of global imports failed to regain momentum.

In value terms, saccharin imports reduced modestly to $198M in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 25%. As a result, imports reached the peak of $224M. From 2017 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

The purchases of the three major importers of saccharin and its salts, namely the United States, Brazil and Germany, represented more than fourth of total import. It was followed by Spain (1.1K tons), achieving a 4.8% share of total imports. The following importers - Thailand (842 tons), Pakistan (782 tons), Cuba (782 tons), Japan (771 tons), South Korea (633 tons), Turkey (617 tons), Bangladesh (565 tons), the Netherlands (550 tons) and India (510 tons) - together made up 27% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cuba (with a CAGR of +30.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($27M), Brazil ($22M) and Germany ($18M) constituted the countries with the highest levels of imports in 2022, with a combined 33% share of global imports. Spain, Thailand, Japan, Turkey, the Netherlands, South Korea, India, Pakistan, Bangladesh and Cuba lagged somewhat behind, together comprising a further 26%.

The Netherlands, with a CAGR of +31.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average saccharin import price stood at $8,829 per ton in 2022, with an increase of 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2016 an increase of 16% against the previous year. As a result, import price reached the peak level of $10,197 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($10,811 per ton), while Cuba ($3,821 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Saccharin And Its Salts

In 2022, shipments abroad of saccharin and its salts decreased by -16.1% to 21K tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 21%. The global exports peaked at 26K tons in 2021, and then dropped significantly in the following year.

In value terms, saccharin exports declined to $188M in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 28% against the previous year. As a result, the exports reached the peak of $216M. From 2017 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

China represented the largest exporting country with an export of around 15K tons, which resulted at 69% of total exports. South Korea (2.2K tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by India (5.9%) and Germany (5.7%). The following exporters - Thailand (525 tons) and Spain (366 tons) - each amounted to a 4.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to saccharin exports from China stood at -1.2%. At the same time, Thailand (+103.8%), India (+10.1%) and South Korea (+2.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +103.8% from 2012-2022. By contrast, Germany (-2.6%) and Spain (-6.4%) illustrated a downward trend over the same period. While the share of India (+3.8 p.p.), South Korea (+2.7 p.p.) and Thailand (+2.4 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($105M) remains the largest saccharin supplier worldwide, comprising 56% of global exports. The second position in the ranking was taken by South Korea ($29M), with a 16% share of global exports. It was followed by Germany, with a 6.9% share.

In China, saccharin exports increased at an average annual rate of +2.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+4.2% per year) and Germany (+1.3% per year).

Export Prices By Country

In 2022, the average saccharin export price amounted to $8,768 per ton, with an increase of 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2016 an increase of 30%. As a result, the export price reached the peak level of $11,693 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($13,058 per ton), while Thailand ($6,945 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform