North America Neotame Market

North America Neotame Market Size Share Trends Growth Overview 2022 - 2027:

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 (2022 - 2027).

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.

Recent Developments

1. Monsanto Co., said it agreed to sell its Equal table-top sweetener business for $ 570 million to a group led by the investment firm of Dell Computer Corp founder Michael Dell. The company makes small sachets of artificial sweeteners found on restaurant tables. The unit sells its calorie-free sweetener, made with aspartame, in the United States under the brands Equal and NutraSweet.
2. Mérieux NutriSciences announced the acquisition of a majority stake in traQ'food, a French start-up that markets a digital application for catering and catering to manage its hygiene and health control plan. traQ'food strategically complements Mérieux NutriSciences' existing portfolio of digital solutions. Suitable for any type and business, the application offers various functionalities such as label traceability, merchandise control, or temperature reading sensors that allow, in particular, to digitize documentation, comply with regulations and automate supply management.
3. Furthermore, in a context of market globalization with more exchanges and increasing complexity of the agri-food sectors, Mérieux NutriSciences has created a Business Unit dedicated to Digital Solutions. By valuing data beyond analysis or audit results, Digital Solutions aims to help prevent quality problems and protect the health of businesses and end consumers.

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.

Market Segmentation:

Application

• Pharmaceuticals
• Food and Beverage
• Cosmetics
• Agriculture/Feed and
• Others

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.

Regional Analysis:

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. 

Leading Company

FIC had the major share of the North America Neotame Market in terms of sales income in 2021.

Key Players

The North America Neotame Market is concentrated with well-established players. Key players in the North America Neotame Market include 

1. Foodchem International Corporation 
2. Fooding Group Limited
3. Sweetner Holdings, Inc. 
4. Prinova Group LLC and
5. JJD Enterprises