Global Aspartame Market 2023 to 2030.
Global Aspartame Market Report Size, Trends & Growth Opportunity, By Raw Material (Aspartic Acid, Phenylalanine), By Distribution Channel (Supermarkets, Convenience Stores, Departmental Stores, Others), By Application (Beverages, Dairy Products, Confectionery Assorts, Seasonings, Others), By End Use (Food and Beverages, Healthcare, Agriculture, Cosmetics) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa) And Forecast Till 2030.
Global Aspartame Market Report Size, Trends &
Growth Opportunity, By Raw Material (Aspartic Acid, Phenylalanine), By
Distribution Channel (Supermarkets, Convenience Stores, Departmental Stores,
Others), By Application (Beverages, Dairy Products, Confectionery Assorts, Seasonings,
Others), By End Use (Food and Beverages, Healthcare, Agriculture, Cosmetics)
and By Region (North America, Europe, Asia Pacific, Latin America, Middle East
& South Africa) And Forecast Till 2030.
Global Aspartame Market
The Global Aspartame Market was estimated to be worth USD 394.6 million in 2022
and is anticipated to increase to USD 543.4 million by 2030, growing at a CAGR
of 3.48 % from 2023 to 2030.
Aspartic acid and phenylalanine, two ubiquitous amino acids
that naturally present in many foods such fruits, vegetables, meats, and eggs,
are the building blocks of aspartame, a low-calorie sweetener. While aspartame
has roughly the same number of calories per gramme as sugar, it is nearly 200
times sweeter than sugar, necessitating a tiny amount to obtain the same
sweetness. It is used to sweeten chewing gum, beverages, yoghurt, and
pharmaceuticals. As a result, the number of calories in each serving of aspartame
is reduced.
Market Drivers
Aspartame was the food ingredient that underwent the most
extensive testing by the U.S. Food and Drug Administration (FDA) before being
authorised as safe for ingestion by humans. Aspartame is mostly used in
carbonated beverages, pharmaceutical preparations, chewing gum, and fruit-based
beverages in nations like the United States. In the near future, it is
anticipated that the global aspartame market would expand due to its expanding
application in end-use industries. A further factor contributing to the market's
anticipated expansion throughout the forecast period is the population's
growing health consciousness. According to projections, increasing rates of
diabetes and obesity will prompt people to seek out sugar substitutes.
The food and beverage industry is expanding, as are other
end use industries like the packaged food sector, thanks to a rise in consumer
demand for low-calorie drinks and foods. This is then anticipated to increase
demand for sugar alternatives like aspartame.
Market Restraints
The aspartame market could be hampered by reasons like a short shelf life
caused by lower stability at higher temperatures. Additionally, over the
projection period, demand for aspartame may be constrained by shifting consumer
tastes, new product innovations, and an increase in the availability of rival
products such sucralose, which has a longer shelf life than aspartame.
Market Segmentation
The Global Aspartame Market is segmented into Raw Material (Aspartic Acid,
Phenylalanine), Distribution Channel (Supermarkets, Convenience Stores,
Departmental Stores, Others), Application (Beverages, Dairy Products,
Confectionery Assorts, Seasonings, Others), End Use (Food and Beverages,
Healthcare, Agriculture, Cosmetics) and Region (North America, Europe, Asia
Pacific, Latin America, Middle East & South Africa).
Regional Analysis
Due to its rapidly growing consumer base and
industrialization, Asia Pacific is predicted to rule the aspartame industry
globally. It is anticipated that the market will gain from increased consumer
demand for aspartame due to rapid urbanisation, rising population, and rising
disposable income in nations like China and India. Due to rising health
consciousness and rising demand for food and beverage goods including tea, soft
drinks, and milk that employ aspartame as a healthy substitute for sugar. According
to forecasts, North America will hold a sizable share of the worldwide market.
Aspartame demand in North America will also be significantly influenced by the
province's regulatory agencies' rigorous laws and restrictions.
Key Players
The Key Players in the Global Aspartame Market are Whole Earth Brands, HSWT,
Nantong Changhai Food Additive Co. Ltd., Ingredion Incorporated, Taj
Pharmaceuticals Limited, Foodchem International Corporation, Hermes Sweeteners
Ltd., Vitasweet Co. Ltd., Global Calcium Pvt. Ltd., Prakash Chemicals Agencies.
Market Taxonomy
Raw Material
• Aspartic Acid
• Phenylalanine
Distribution Channel
• Supermarkets
• Convenience Stores
• Departmental Stores
• Others
Application
• Beverages
• Dairy Products
• Confectionery Assorts
• Seasonings
• Others
End Use
• Food and Beverages
• Healthcare
• Agriculture
• Cosmetics
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
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