The global aspartame market size was valued at $375.5 million in 2021 and is projected to reach $561.7 million by 2031, registering a CAGR of 3.9% from 2022 to 2031.
Aspartame is a high-intensity sweetener that is used to enhance the sweetness perception during intake. It is around 200 times sweeter than sugar. It is used in many foods and beverages because it is much sweeter than sugar, so much less of it can be used to give the same level of sweetness. Aspartame is frequently used in recipes that don't call for a lot of heat, as a tabletop sweetener, and as a sweetener in prepared foods and beverages (since heat breaks down aspartame). Some medications contain it as a flavor as well.
Some of the key causes of the rising incidences of weight gain and obesity, which have drawn consumers' attention to their sugar intake and sugar levels, are people's lack of physical activity and rising consumer affluence. More than 1 billion people worldwide are obese, including 650 million adults, 340 million adolescents, and 39 million children, according to the World Health Organization (WHO). These numbers are still rising. By 2025, the WHO predicts that 167 million adults and children will lose some of their health due to being overweight or obese. The majority of the world's population lives in nations where obesity is a leading cause of early death.
Processed food is consumed on the go and has a longer shelf life as compared to unprocessed food. These kinds of meals are also becoming more popular nowadays owing to the convenience they offer; some of them are ready to eat. Additionally, the availability of processed food has grown over time, which has changed how people eat. UNICEF reports that in 2019-2020, processed food consumption among school-aged teenagers was 42% daily carbonated sugary drink consumption and 46% weekly fast-food consumption. In addition, 77% of the distribution of processed foods worldwide is controlled by about 100 large businesses. Packaged processed food/ready-to-eat processed foods are extremely convenient, less time-consuming, and cost-efficient, and fewer efforts are required for meal preparation. These benefits have increased the demand for processed food, particularly among the working population and students. The increased demand for processed packaged foods is driving the need for sweeteners by food manufacturing companies to carry on the production of processed food. The rising preference for processed food is expected to fuel the growth of the global aspartame market.
Customers can choose from a range of artificial sweeteners in the main aspartame market. The rising demand for natural and organic food products has motivated the players to conduct research and develop natural stevia and leaves-based sweeteners. For their food and beverages, people nowadays prefer low-calorie sweeteners manufactured from organic plants. It is projected that this factor will lower the market's potential for revenue. Artificial sweeteners have drawn criticism for their potential negative effects on health. Experts believe that aspartame may eventually damage genes and cause cancer. The proportionate use of aspartame is supported by numerous regulatory bodies, including the WHO and the U.S. Food and Drug Administration (FDA), among others.
Globally, consumers are becoming more health-conscious and moving toward healthier lifestyles. Today, people are spending more on products with more advantages due to greater purchasing power and an emphasis on aesthetics. For people to reach the required nutritional level and stay healthy, there is a high need for supplements and nutraceutical products. Important manufacturers are attempting to profit from the new health fads by putting aspartame in supplements to give them a better flavor. The demand for aspartame is anticipated to rise in the near future due to rising supplement intake. For instance, according to the Ministry of Finance India, Indian pharmaceutical exports achieved 24% growth in FY21. Cumulative FDI in the pharma sector crossed the $20 billion mark by September 2022. Such a rise in the pharmaceutical industry is expected to boost the growth of the aspartame market.
The aspartame market is segmented into product form, end-user, sales channel, and region. Depending on the form, the market is bifurcated into powder and granular. As per end-user, it is segregated into the food & beverages, pharmaceuticals, and tabletop sweeteners. By sales channels, it is categorized into offline and online sales channels. Region-wise, the aspartame market analysis is done across North America (the U.S., Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the rest of Europe), Asia-Pacific (India, China, Japan, Australia, New Zealand, and the Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
Players operating in the global aspartame market have adopted various developmental strategies to expand their aspartame market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto Co., Inc., Anant Pharmaceuticals, Changmao Biochemical Engineering Company Limited, Foodchem International Corporation, GELERIYA PRODUCTS, Global Calcium Pvt. Ltd., Hermes Sweeteners Ltd., HSWT, Ingredion Incorporated, Nantong Changhai Food Additive Co. Ltd., Prakash Chemicals Agencies, Taj Pharmaceuticals Limited, Vitasweet Co. Ltd., Whole Earth Brands, and Yogi Dye Chem Industries.
Aspartame is a high-intensity sweetener that is used to enhance the sweetness perception during intake. It is around 200 times sweeter than sugar. It is used in many foods and beverages because it is much sweeter than sugar, so much less of it can be used to give the same level of sweetness. Aspartame is frequently used in recipes that don't call for a lot of heat, as a tabletop sweetener, and as a sweetener in prepared foods and beverages (since heat breaks down aspartame). Some medications contain it as a flavor as well.
Some of the key causes of the rising incidences of weight gain and obesity, which have drawn consumers' attention to their sugar intake and sugar levels, are people's lack of physical activity and rising consumer affluence. More than 1 billion people worldwide are obese, including 650 million adults, 340 million adolescents, and 39 million children, according to the World Health Organization (WHO). These numbers are still rising. By 2025, the WHO predicts that 167 million adults and children will lose some of their health due to being overweight or obese. The majority of the world's population lives in nations where obesity is a leading cause of early death.
Processed food is consumed on the go and has a longer shelf life as compared to unprocessed food. These kinds of meals are also becoming more popular nowadays owing to the convenience they offer; some of them are ready to eat. Additionally, the availability of processed food has grown over time, which has changed how people eat. UNICEF reports that in 2019-2020, processed food consumption among school-aged teenagers was 42% daily carbonated sugary drink consumption and 46% weekly fast-food consumption. In addition, 77% of the distribution of processed foods worldwide is controlled by about 100 large businesses. Packaged processed food/ready-to-eat processed foods are extremely convenient, less time-consuming, and cost-efficient, and fewer efforts are required for meal preparation. These benefits have increased the demand for processed food, particularly among the working population and students. The increased demand for processed packaged foods is driving the need for sweeteners by food manufacturing companies to carry on the production of processed food. The rising preference for processed food is expected to fuel the growth of the global aspartame market.
Customers can choose from a range of artificial sweeteners in the main aspartame market. The rising demand for natural and organic food products has motivated the players to conduct research and develop natural stevia and leaves-based sweeteners. For their food and beverages, people nowadays prefer low-calorie sweeteners manufactured from organic plants. It is projected that this factor will lower the market's potential for revenue. Artificial sweeteners have drawn criticism for their potential negative effects on health. Experts believe that aspartame may eventually damage genes and cause cancer. The proportionate use of aspartame is supported by numerous regulatory bodies, including the WHO and the U.S. Food and Drug Administration (FDA), among others.
Globally, consumers are becoming more health-conscious and moving toward healthier lifestyles. Today, people are spending more on products with more advantages due to greater purchasing power and an emphasis on aesthetics. For people to reach the required nutritional level and stay healthy, there is a high need for supplements and nutraceutical products. Important manufacturers are attempting to profit from the new health fads by putting aspartame in supplements to give them a better flavor. The demand for aspartame is anticipated to rise in the near future due to rising supplement intake. For instance, according to the Ministry of Finance India, Indian pharmaceutical exports achieved 24% growth in FY21. Cumulative FDI in the pharma sector crossed the $20 billion mark by September 2022. Such a rise in the pharmaceutical industry is expected to boost the growth of the aspartame market.
The aspartame market is segmented into product form, end-user, sales channel, and region. Depending on the form, the market is bifurcated into powder and granular. As per end-user, it is segregated into the food & beverages, pharmaceuticals, and tabletop sweeteners. By sales channels, it is categorized into offline and online sales channels. Region-wise, the aspartame market analysis is done across North America (the U.S., Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the rest of Europe), Asia-Pacific (India, China, Japan, Australia, New Zealand, and the Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
Players operating in the global aspartame market have adopted various developmental strategies to expand their aspartame market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto Co., Inc., Anant Pharmaceuticals, Changmao Biochemical Engineering Company Limited, Foodchem International Corporation, GELERIYA PRODUCTS, Global Calcium Pvt. Ltd., Hermes Sweeteners Ltd., HSWT, Ingredion Incorporated, Nantong Changhai Food Additive Co. Ltd., Prakash Chemicals Agencies, Taj Pharmaceuticals Limited, Vitasweet Co. Ltd., Whole Earth Brands, and Yogi Dye Chem Industries.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aspartame market analysis from 2021 to 2031 to identify the prevailing aspartame market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aspartame market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aspartame market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Form
- Powder
- Granular
By End user
- Food and beverages
- Sub segment
- Beverages
- Bakery and Confectionery
- Dietary
- Dairy
- Pharmaceuticals
- Table Top Sweeteners
By Sales Channel
- Offline
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Australia
- New Zealand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Ingredion Incorporated
- Taj Pharmaceuticals Limited
- Changmao Biochemical Engineering Company Limited
- Global Calcium Pvt. Ltd.
- GELERIYA PRODUCTS
- Whole Earth Brands
- HSWT
- Nantong Changhai Food Additive Co. Ltd.
- Prakash Chemicals Agencies
- Foodchem International Corporation
- Yogi Dye Chem Industries
- Ajinomoto Co., Inc.
- Anant Pharmaceuticals
- Hermes Sweeteners Ltd.
- Vitasweet Co. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ASPARTAME MARKET, BY PRODUCT FORM
CHAPTER 5: ASPARTAME MARKET, BY END USER
CHAPTER 6: ASPARTAME MARKET, BY SALES CHANNEL
CHAPTER 7: ASPARTAME MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Ingredion Incorporated
- Taj Pharmaceuticals Limited
- Changmao Biochemical Engineering Company Limited
- Global Calcium Pvt. Ltd.
- GELERIYA PRODUCTS
- Whole Earth Brands
- HSWT
- Nantong Changhai Food Additive Co. Ltd.
- Prakash Chemicals Agencies
- Foodchem International Corporation
- Yogi Dye Chem Industries
- Ajinomoto Co., Inc.
- Anant Pharmaceuticals
- Hermes Sweeteners Ltd.
- Vitasweet Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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