Aspartame Market Size, Share, Trends, Covid-19 Impact & Growth Forecast Report -Segmented By Application (Animal And Agriculture Feed, Cosmetics, Pharmaceutical, Food Production, And Beverages), Distribution Channel (Departmental Stores, Convenience Stores Supermarket And Others), Region(North America, Europe, Asia Pacific, Latin America, And Middle East & Africa) – Industry Analysis (2024 To 2029)

Updated On: January, 2024
ID: 12057
Pages: 150

Global Aspartame Market Size (2024 to 2029):

Aspartame Market size is expected to be at USD 9.41 in 2024 and is predicted to the extent over of USD 11.72 billion by 2029, registering a CAGR value of 4.50% during the forecast period 2024-2029.

According to the study, the North American aspartame market is anticipated to have a major market share in the global market, and aspartame market growth in the Asia-Pacific region is expected to record a substantial rise in the upcoming years. Aspartame is an artificial sweetener sold under brand names, for instance, Equal and NutraSweet. It is a low-calorie sweetener that has been used for decades to reduce the intake of added sugars while still offering the satisfaction of enjoying something sweet. As this is much sweeter than sugar, it is used in many foods and beverages and a very small amount is needed to provide the same level of sweetness. It can also be found as a flavoring agent in some medications.

ASPARTAME MARKET DRIVERS AND RESTRAINTS:

The main factor driving the growth of the aspartame market is the increasing adoption of Sugar substitutes in the food, beverage, and health and personal care industries

This upward trend reflects economic development, increasing consumer purchasing power, and the boom in marketing and branding different varieties of sugar substitutes. Authorization to use aspartame in various industries by major food ingredient regulatory authorities, such as the United States Food and Drug Administration (FDA), is expected to contribute primarily to the growth of the aspartame market in the United States during the forecast period. On the other hand, the presence of regulations and the impacts of the beverage recall are expected to hamper the growth of the Aspartame Market. Concerns about the product's health side effects are expected to challenge the global market during the forecast period 2022 - 2027.

REPORT COVERAGE: 

 

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

4.50%

Segments Covered

By Application, Distribution Channel And Region

Various Analyses Covered

Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

The Holland Sweetener Company, Taj Pharmaceuticals Ltd, Niutang Chemical Ltd, Sinoway International (Jiangsu), The Nutrasweet Company (Monsanto).

 

SEGMENTAL ANALYSIS 

Global Aspartame Market By Application

Among applications, the food products segment is expected to dominate the world market for aspartame due to the wider use of aspartame in many food products due to its flavor-enhancing properties as well as its ability to improve the shelf life of food products.

Global Aspartame Market By Distribution Channel

Depending on the distribution channel, supermarkets are the sole major marketplace for the sale of water enhancers. Supermarkets and hypermarkets have played an important role in the distribution of functional foods and beverages since their inception.

REGIONAL ANALYSIS

North America region is anticipated to have a major market share in the aspartame market, owing to the high consumption of aspartame as a substitute for sugar in the region. The high use of aspartame in the production of various confectionery, beverage, and other food products is accelerating the growth of the aspartame market in North America.

The market in the Asia-Pacific region is anticipated to knowledge a substantial rise in the upcoming years, owing to the approval of the governing authorities on the use of intense sweeteners in Asian countries such as New Zealand, Zealand, Zealand, and Australia.

Europe was third the largest Aspartame Market in 2015. Lower production costs and better economies of scale are also driving the growth of the Aspartame Market.

Latin Americans anticipated making substantial opportunities for companies operating in the aspartame market.

The Middle East and Africa are some of the main emerging regions, which will generate significant opportunities in the aspartame industry during the anticipated period due to its high sweetening power, further influencing the Aspartame Market.

KEY PLAYERS IN ASPARTAME MARKET

Key market players in Aspartame Market are The Holland Sweetener Company, Taj Pharmaceuticals Ltd, Niutang Chemical Ltd, Sinoway International (Jiangsu), The Nutrasweet Company (Monsanto).

RECENT HAPPENINGS IN THE MARKET:

  • The Coca-Cola Company introduced new flavors of diet coke in which the company used the mixture of acesulfame potassium (ace-K) and aspartame as a sweetener.
  • Last year, PepsiCo discontinued Diet Pepsi's aspartame in the United States after seeing it fall out of favor with some consumers. It has now announced that it will launch an aspartame-sweetened version - "Diet Pepsi Classic Sweetener Blend" - along with Diet Pepsi without aspartame. Diet Pepsi, which has been sweetened with sucralose and Ace K instead of aspartame since August, will continue to be PepsiCo's premier diet cola product in the United States.
  • Monsanto Company acquired G.D Searle & Company for the payment of about $ 2.7 billion, the diversified pharmaceutical company that manufactures aspartame, the artificial sweetener. Searle, who is based in Skokie, Ill., Accepted Monsanto's $ 65 stock cash offer just four months after announcing that it would remain independent. Last fall, Searle officials said they were looking to sell some or all of the company, but the company's board of directors ruled last March that the company should remain independent after offers received were lower than what management was looking for.

In a move that could shake up the market for low-calorie sweeteners, Johnson & Johnson agreed to sell its best-selling Splenda brand to Heartland Food Products Group. Heartland already produces sucralose, Splenda's sweetening agent, in addition to stevia, saccharin, aspartame, and other sweeteners

 

DETAILED SEGMENTATION OF GLOBAL ASPARTAME MARKET INCLUDED IN THIS REPORT    

This research report on the global Aspartame Market has been segmented and sub-segmented based on Application, Distribution Channel & region

 

By Application

  • Animal
  • Agriculture Feed
  • Cosmetics
  • Pharmaceutical
  • Food Production
  • Beverages

By Distribution Channel

  • Departmental Stores
  • Convenience Stores
  • Supermarket
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Frequently Asked Questions

1.What Products Contain Aspartame?

Aspartame is commonly found in a wide range of food and beverage products, including diet sodas, sugar-free chewing gum, sugar-free desserts, yogurt, cereal, and various other processed foods labeled as "low-calorie" or "sugar-free."

2.Does Aspartame Have Any Side Effects?

The safety of aspartame has been a topic of debate, but numerous scientific studies have found no conclusive evidence linking aspartame consumption to adverse health effects when consumed within recommended limits. However, some individuals may experience adverse reactions or sensitivity to aspartame, such as headaches, dizziness, or gastrointestinal discomfort.

3.How Should Aspartame Be Stored?

Aspartame should be stored in a cool, dry place away from direct sunlight and moisture. It is typically available in powder or granular form and is often packaged in sealed containers or packets to maintain freshness.

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