The value of the Aspartame market is projected to grow to USD 12.02 billion with an estimated CAGR of 4.9% by 2028
It is the most widely used sweetening agent projected to increase by demands from the food & beverage industry. Factors that are responsible for increasing the aspartame market is that it is an alternative of sugar for reducing the calories by not changing the taste of food, sweetening powder and long life span, rise in demand for sucralose and property of taste. Popular aspartame market is gaining the attraction of organizations regarding the side effects and health-conscious consumers are increasing the growth of global aspartame market.
Factors like the differences in market about using the aspartame in food, steady aspartame, rise in awareness about artificial agents on health affects the aspartame market. The most common artificial sweeteners most widely used is aspartame, prepared by joining the phenylalanine and aspartic acid together. Aspartame is mostly used in foods & beverages as it is more sweeter than sugar, so very less are used for giving the same level of sweetness. Rise in demand amongst the people conscious regarding health are anticipated to be the main factor that drives the growth of aspartame market in the coming years.
Increasing concerns regarding health, occurrence of heart diseases and diabetes, threats of table sugar are allowing people to use the substitutes like artificial sweeteners. The most commonly used additives to sweeten the products in food & beverage industry is sucralose and aspartame. Soft drink industry is using the aspartame which will help in surging the global aspartame market.
Aspartame earns about 20% of world consumption of HIS and the main country for the consumption of aspartame is America. Currently, the aspartame market share is decreasing in America because of continuous reduction in consuming soft drink and concerns of customers for the safety of sweeteners. Moreover, consumption of aspartame is anticipated to increase at the average rates in South and Central America, Africa, China, Asia Pacific and Middle East & Africa.
Aspartame market is segmented into application, end-user and region. By application, aspartame market is divided into dairy products, beverages, medicine & nutritional products, seasonings, confectionary assorts and much more. By end-user, market is segmented into healthcare, cosmetics, agriculture, food & beverages and more.
Geographically, regions involved in increasing the global aspartame market size are North America (Canada, U.S, Mexico and others), Europe (France, Spain, Germany, U.K and others), South America (Argentina, Brazil and others), Middle East & Africa (Israel, Saudi Arabia and others) and Asia Pacific (Japan, China, India, South Korea and others). North America holds largest aspartame market share in beverages like soft drinks, milk, drinks and tea. Asia Pacific and North America are likely to provide opportunities for the key players involved in the global aspartame market. The global aspartame industry is projected to experience growth because of food & beverage industry over the forecast period. Asia Pacific is estimated to be the rapidly growing region by the permission received from the regulatory agencies for using the sweetener in several food products and rise in the value of aspartame market in several regions like China and India, leads Asia Pacific to boost the aspartame market in coming years.
Key players involved in the development of global aspartame market share are HYET sweets, Foodchem International Corporation, Ajinomoto Group, Shaoxing Marina Biotechnology Co.Ltd., Changmao Biochemical Engineering and more.
Key Segments in the “Global Aspartame Market” report are:
By Application, market is segmented into:
- Dairy products
- Medicine & Nutritional products
- Confectionary assorts
By End-User, market is segmented into:
- Food & Beverages
By Region, market is segmented into:
- North America
- South America
- Middle East & Africa
- Saudi Arabia
- Asia Pacific
- South Korea