Rising Health Consciousness to Drive Aspartame Market Growth

Thu, 26 November 2020 4:43

The demand for aspartame is expected to grow at an exponential growth rate, owing to its plethora of applications in various industries. It's novel properties of low-calories, along with high sweetening power,are expected to fuel the market growth. North America is expected to grab the lion's share in the aspartame market. More than 60% of the consumers present in the region use artificial sweeteners and low-calorie products. The use of aspartame is widely seen in tabletop sweeteners, chewing gums, puddings, tea, and other desserts. The approval from the FDA for the use of aspartame for multiple uses in the food & beverage sector boosts the market growth.

As per the U.S. Department of Agriculture, Americans on average consume 156 pounds of sugar each year. The region is seeing a higher number of people having diabetes and obesity. People in the U.S. are adopting a healthy lifestyle and preferring dietary foods and drinks to maintain weight and blood sugar levels. Moreover, aspartame does not have a bitter taste as compared to other substitutes, making it an ideal choice for a wide variety of sweet foods and drinks.

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Impact of COVID-19

The outbreak is expected to restrict the growth of the aspartame market in the future. It is observed that the pandemic is likely to have severe effects on the elderly with low immunity. The need for medicines and nutritional products globally is expected to improve the overall demand for aspartame. However, the social distancing norms and lockdowns imposed by governments have caused uncertainties in the global economy. Moreover, the novel coronavirus has disrupted the global supply chain, further creating a shortage of rawmaterials. The lower production levels and higher sourcing of rawmaterials are expected to dampen the market growth in the short-run. 

Key Highlights

  • The aspartame market is projected to have a lucrative growth rate during the forecast period, owing to the rising number of people with obesity and diabetes
  • The food and beverage segment holds the highest market share in the aspartame market
  • Asia-Pacific is anticipated to observe a high growth rate in the aspartame market, particularly in India and China

Key Players

  • Ajinomoto Group
  • The NutraSweet Co.
  • HYET Sweet B.V.
  • Nantong Changhai Food Additive Co. Ltd.
  • Cargill
  • Incorporated
  • Foodchem International Corporation
  • Ingredion Incorporated
  • Daesang Corporation
  • Merisant Company

Aspartame Market: Segmentation

By Application

  • Drinks
  • Desserts
  • Dairy Products
  • Powdered Drink Mixes
  • Bakery and Confectionary
  • Pharma Products
  • Tabletop Sweeteners

By End-User

  • Food and Beverage
  • Pharmaceutical
  • Personal Care and Cosmetics

By Distribution Channel

  • Direct Sales
  • Distributors

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East andAfrica

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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