The Asia Pacific Aspartame Market would witness market growth of 3.7% CAGR during the forecast period (2023-2029).
The consumption of sugar and corn syrup is declining due to shifting consumer lifestyles and increased health consciousness. The demand for low-calorie sweeteners is increasing quickly as consumers become more aware of the advantages and accessibility of various low-calorie/zero-calorie sweeteners. In order to substitute sugar and reduce the number of calories and carbohydrates, low-calorie sweeteners are employed in food and beverages.
In addition, compared to table sugar, low-calorie sweeteners offer a more potent sweetness, so they can be used in much fewer amounts. Because using sugar and corn syrup as a sweetener has harmful effects on the body, including an increased risk of type 2 diabetes, skin aging, weight gain, and other issues, customers are exploring low-calorie sweeteners.
Also, a significant factor in the consumption of aspartame as a sweetener is the rise in diabetic patients and consumer awareness. Additionally, the food and beverage industry is increasingly focused on millennials and producing low-calorie energy drinks and meals. Therefore, during the forecast period, the market is bound to grow.
In Asia, diabetes affects more than 60% of the population, with China and India having the highest rates. In the Western Pacific, there are already more than 138 million diabetics, with 201 million expected by 2035. Between 2000 and 2035, the proportion of diabetics is supposed to increase by 150% in South Asia. The region's patient population of diabetics and obese people present a potential opportunity for aspartame manufacturers. In addition, numerous worldwide health organizations promote the use of sugar substitutes to combat the rapidly spreading diabetes epidemic in Asia, which is fuelling market expansion.
The China market dominated the Asia Pacific Aspartame Market by Country in 2022; thereby, achieving a market value of $67.5 Million by 2029. The Japan market is registering a CAGR of 3% during (2023 - 2029). Additionally, The India market would showcase a CAGR of 4.3% during (2023 - 2029).
Based on Product Form, the market is segmented into Powder and Granular. Based on End User, the market is segmented into Food & Beverages, Pharmaceuticals and Table-Top Sweeteners. Based on Food & Beverages Type, the market is segmented into Beverages, Bakery & Confectionery, Dietary and Dairy. Based on Sales Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Aspartame Market is Projected to reach USD 476.4 Million by 2029, at a CAGR of 3.5%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Ingredion Incorporated, Changmao Biochemical Engineering Company Limited, Whole Earth Brands, Inc., Foodchem International Corporation, Taj Pharmaceuticals Limited, Global Calcium Pvt. Ltd., Geleriya Products, Nantong Changbai Food Additive Co. Ltd (Guangye L&P Ingredient Co group), Prakash Chemicals Agencies Pvt. Ltd, and Hermes Sweeteners Ltd.
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