The aspartame market is anticipated to grow at a CAGR of 3.20% over the forecast period to reach US$356.472 million by 2029, increasing from estimated value of US$304.534 million in 2024.
Aspartame is a chemical/artificial sweetener that has been used in a variety of food and beverage products since the 1980s, including chewing gum, diet drinks, ice creams, dairy products such as yogurt, medications such as chewable vitamins and cough drops, and toothpaste. The Aspartame market is expected to grow due to significant factors such as the increase in the number of health-conscious populations worldwide who prefer sugar-free food and beverage products.
Aspartame contains low-calorie content compared to normal sugar, which is one of the reasons why there is a growing demand for aspartame across various end-user industries, especially in the food and beverage segment. According to the FDA it was in 1974 when the FDA approved aspartame as a sweetener, and till now, there is scientific evidence that continues to support the agency’s conclusion that aspartame is safe for the general population. The FDA established an acceptable daily intake of aspartame, and the amount of aspartame, which is considered to be safe for consumption throughout an individual’s lifetime, continues to be protective of public health.
ASPARTAME MARKET DRIVERS:
As a substitute for sugar, the aspartame market has been witnessing immense growth, reflecting broader consumer preferences toward healthier dietary options. There has been a growing awareness of health issues such as obesity and diabetes, which are on the increase, thus resulting in the growing demand for aspartame as an artificial sweetener in various food and beverage products.
According to the Obesity Medicine Association, research indicated that in America, obesity is regarded as a public crisis. Furthermore, over the past decades, there has been an increase in obesity rates amongst all the population groups. According to the analysis provided by Trust for America’s Health as per the latest data from the Centers for Disease Control and Prevention (CDC) Behavioral Risk Factors Surveillance System in 2022, in the United States itself, 22 states reportedly have an obesity rate of above 35% which is up from 19% in comparison from the previous year. The obesity rate in top states of America stands at 41% for West Virginia, 40.1% for Louisiana, Okhlama accounting for 40%, and Mississippi accounting for another 39.5%. On the other hand, the District of Columbia accounts for 24.3%, Colorado (25%), and Hawaii (25.9%) are the 3 other states with the lowest adult obesity.
To curb this issue of increasing obesity, the market for aspartame is expected to witness growth. Aspartame, though extremely sweet, provides multiple benefits, such as its reduced calorie content while maintaining its sweetness, thus making it an efficient option for customers.
Aspartame Market Geographical Outlook
The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region such as ASEAN countries. India's aspartame market is expected to grow due to the rising prevalence of diabetes. With the continuous growing awareness regarding health issues related to the consumption of sugar, there will be a growing demand for aspartame as a substitute for sugar but with less calorie content and one that is FDA-approved.
According to the World Health Organization, there is an estimated 77 million people who are above the age of 18 and are suffering from diabetes (type 2). Furthermore, there are nearly 25 million who are prediabetic (who are at a higher risk of developing diabetes shortly). In this regard, people with diabetes are the ones who are actively seeking out sugar alternatives to help manage their condition.
Aspartame Market Restraints:
Stringent government regulations regarding regulatory challenges and growing health concerns are regarded as among the most imperative challenges that could impact the demand for aspartame-containing products. Potential bands in certain regions can also act as a challenge or a restraint factor, limiting the usage and demand for aspartame.
Moreover, in July 2023, IARC classified aspartame as a substance that is possibly carcinogenic to humans on the sole basis of the limited evidence of cancer, which is found in humans, especially hepatocellular carcinoma, a type of live cancer. In this regard, JECFA has also concluded its data and has stated that the limited usage of aspartame per day is necessary to reduce the risk of aspartame being carcinogenic to humans. IARC’s hazard identifications are regarded as the first fundamental step towards understanding an agency's carcinogenicity by identifying its specific properties and the potential harm it can cause to patients, such as cancer.
The aspartame market is segmented by end-user industry into the food and beverage, pharmaceutical, and other industries.
The aspartame by end-under industry is segmented into food and beverages, which is expected to attribute a high market share from 2024 to 2029. The food and beverage sectors are further classified into different sub-segments, such as aspartame used in beverages, dietary, bakery, confectionery, and even dairy products. The aspartame market is expected to witness the highest market share in the food and beverage industry owing to the growing demand from the global population and its consumption due to growing health concerns.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Aspartame Market Size in 2024 | US$304.534 million |
| Aspartame Market Size in 2029 | US$356.472 million |
| Growth Rate | CAGR of 3.20% |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Aspartame Market | |
| Customization Scope | Free report customization with purchase |
The aspartame market is segmented and analyzed as follows: