The global aspartame market is projected to grow at a CAGR of 5.30% over the forecast period of 2018-2024. Aspartame is a high-intensity low-calorie sweetener that is approximately 200 times sweeter than sugar. The demand for aspartame will grow on account of raising awareness towards the adoption of a healthier lifestyle and a balanced diet. In addition, raising awareness regarding the negative effects of sugar coupled with the increasing prevalence of diabetes will further boost the demand for this sweetener.
The North American and the European regions held a high share in the market on account of the high consumption of beverages, confectionaries, and nutritional dairy products, which are some of the most notable areas where aspartame is used. The Asia Pacific region will witness substantial growth during the forecasted period owing to the rapid urbanization and rise in the average disposable incomes. However, long-term health concerns related to the use of artificial sweeteners will restrict the growth potential of aspartame over the forecast period.
DRIVERS
Growing demand for a natural sugar alternative
Rising awareness towards adoption of a healthier lifestyle
RESTRAINTS
Long-term health concerns
Availability of natural substitutes
INDUSTRY UPDATE
In February 2018, PepsiCo announced it will be adding aspartame back to its flagship diet Pepsi product after pulling the ingredient in 2015.
The major players profiled in the Aspartame market include Ajinomoto Group, Foodchem International Corporation, Niutang Chemical Ltd., HYET Sweets, Vitasweet, Shaoxing Marina Biotechnology Co., Ltd., Daesang Corporation, Hermes Sweetener Ltd., and Changmao Biochemical Engineering.
| Report Metric | Details |
| Growth Rate | CAGR of 5.30% during the forecast period |
| Base year | 2019 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Application, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Ajinomoto Group, Foodchem International Corporation, Niutang Chemical Ltd., Shaoxing Marina Biotechnology Co., Ltd., HYET Sweets, Vitasweet, Daesang Corporation, Changmao Biochemical Engineering, Hermes Sweetener Ltd. |
| Customization scope | Free report customization with purchase |
Segmentation
The Aspartame market has been analyzed through the following segments:
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the global aspartame market?
A1. The global aspartame market is expected to grow at a CAGR of 5.30% over the forecast period.
Q2. Who are the major players in the global aspartame market?
A2. Some of the major players in the global aspartame market are AjinomotGroup, Foodchem International Corporation, Niutang Chemical Ltd., HYET Sweets, Vitasweet, Shaoxing Marina Biotechnology Co., Ltd., Daesang Corporation, Hermes Sweetener Ltd., and Changmao Biochemical Engineering.
Q3. What is the base year considered in the global aspartame market report?
A3. 2019 has been taken as the base year in the global aspartame market.
Q4. What factors are anticipated to drive the global aspartame market growth?
A4. The growth of the global aspartame market is the demand for aspartame will grow on account of raising awareness towards the adoption of a healthier lifestyle and a balanced diet.
Q5. How is the global aspartame market segmented?
A5. The global aspartame market has been segmented by application, end-user industry, and geography.
Ajinomoto Group
Foodchem International Corporation
Niutang Chemical Ltd.
Shaoxing Marina Biotechnology Co., Ltd.
HYET Sweets
Vitasweet
Changmao Biochemical Engineering
Hermes Sweetener Ltd.
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