North America Neotame Market is expected at USD xx. 1xx million in 2021 and is anticipated to the extent an over of USD xx. xx million by the end of the assessment period. The North America Neotame Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimated period (2021-2026).
Neotame is made from 3,3-dimethyl butyraldehyde and aspartame. Neotame is a second-generation artificial sweetener, followed by sucralose. Neotame provides great flavor and enhances flavors when used as a sweetener. However, clean, sweet-tasting neotame, like sugar, is used in small amounts to sweeten foods and beverages. This is due to the properties of the artificial sweetener neotame, which is said to be 8,000 times sweeter than sugar. Neotame is most likely used in many products and a sugar substitute that helps maintain a low level of sugar in the body as it does not add calories to an individual's diet. It can also replace or reduce nutritious and non-nutritive sweeteners while maintaining good taste.
Additionally, neotame can be safely added to the individual diabetes eating plan to help them meet their dietary goals. Furthermore, neotame as a standalone product would not provide an energy source for oral bacteria so that it does not cause cavities.
Market Drivers and Restraints:
The growing demand for neotame by the food industry as an artificial sweetener and flavor enhancer is a major factor that is expected to drive the growth of the global market. Furthermore, due to neotame's low manufacturing cost, the innovative product offering from food manufacturers is another factor that is expected to further drive the growth of the global market to some extent. Increasing health concerns among people and the growing demand for low-calorie foods and calorie-free food products around the world are other factors that are expected to drive the growth of the global neotame market.
Neotame has a growing preference in the food and beverage industry. The properties of neotame have the ability to be rapidly eliminated and metabolized by the body, which is another driver of the growth of the global market for neotame. However, the government's strict and slow approval of products is a major factor that is expected to hamper the growth of the global neotame market to some extent. Increased investments for R&D activities and innovative product offerings from major players are other factors that are expected to create potential revenue opportunities for players operating in the target market during the forecast period.
The market for neotame is growing as the demand for food additives increases at a rapid rate, and manufacturers use neotame as it reduces the cost of production by reducing the amount needed to achieve the desired sweet taste. The neotame market can be segmented on applications and regions.
Depending on the application, it has been divided into the agricultural / food industry, the cosmetic industry, the pharmaceutical industry, and the food industry. Amongst all further applications, neotame is extensively used in food and beverage. The application in food and beverages can be subdivided into beverages, confectionery, bakery, and other food products (such as candy, chewing gum, etc.).
Impact of COVID-19 on North America Neotame Market
As a first step to curb the transmission of the coronavirus, several countries have imposed strict containment conditions, resulting in the temporary closure of production units and sales channels. This has resulted in lower sales and revenues in the neotame market. Furthermore, the market for these products is very weak in developing countries, which has a negative effect on this industry. Although foreclosure conditions were lifted recently, the neotame market has not fully recovered from its losses. This is expected to continue for some time to come or until at least one effective vaccine for COVID-19 is developed.
The North American neotame market is expected to dominate the global market in terms of revenue and is expected to continue to dominate during the forecast period. This dominance can be attributed to the growing demand from the cosmetic industry and the presence of important players operating in the countries of this region. US neotame market is having significant shares owing to the rising number of people and rising disposable income. Canada's neotame market revenue is eventually growing at a higher pace from the past few years.
FIC had the major share of the North America Neotame Market in terms of sales income in 2021.
The North America Neotame Market is concentrated with well-established players. Key players in the North America Neotame Market include
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.5 Y-o-Y Growth Analysis, By Application
5.1.6 Market Attractiveness Analysis, By Application
5.1.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Application
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Application
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Application
6.2 North America
6.1.2 United States
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Foodchem International Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Fooding Group Limited
8.3 Sweetner Holdings, Inc.
8.4 Prinova Group LLC
8.5 JJD Enterprises
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures