Aspartame Market

Global Aspartame Market Size, Share & Industry Trends Analysis Report By Product Form, By End User (Food & Beverages, Pharmaceuticals and Table-Top Sweeteners), By Sales Channel, By Regional Outlook and Forecast, 2023 - 2029

Report Id: KBV-14796 Publication Date: April-2023 Number of Pages: 212
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Market Report Description

The Global Aspartame Market size is expected to reach $476.4 million by 2029, rising at a market growth of 3.5% CAGR during the forecast period.

Aspartame is a high-intensity sweetener used to intensify the sensation of sweetness during intake. It is around 180 to 200 times sweeter compared to sugar and is utilized in various dishes and beverages. For the same amount of sweetness, substantially less of it is required. Tabletop sweeteners, such as aspartame, are typically used in ready-to-eat meals and beverages, and additionally in recipes that do not require a significant amount of heat. Moreover, several medications contain it as a flavor.

Aspartame Market Size - Global Opportunities and Trends Analysis Report 2019-2029

With over 200 studies proving its safety, aspartame is one of the substances in human food that has been most thoroughly researched. Its usage in dry foods, carbonated beverages, and as a general-purpose sweetener has all been approved by the U.S. Food and Drug Administration (FDA). Major international health organizations have determined that aspartame is safe when used as directed.

These organizations include the European Food Safety Authority (EFSA) as well as the Joint FAO/WHO Expert Committee on Food Additives (JECFA). In addition, government regulators worldwide, such as the Ministry of Health, Labor, and Welfare of Japan, Food Standards Australia New Zealand, Health Canada, and the U.S. FDA, have approved the use of aspartame based on multiple research findings and other independent evaluations.

Drinks (like diet sodas, flavored waters, and light or low-sugar juices), dairy products (like low-fat flavored milk and light yogurt), nutrition bars, desserts (like light ice cream, popsicles, and sugar-free puddings and gelatins), chewing gum, sauces, syrups, and condiments can all contain aspartame as an ingredient. Moreover, aspartame may enhance the flavor of several prescription, over the counter, and chewable vitamins. Over the forecast period, the aspartame market is anticipated to develop significantly due to prominent food ingredient regulatory agencies, including the US Food and Drug Administration (FDA), approving its use across various sectors.

COVID-19 Impact Analysis

Since sweeteners were often regarded as non-essential during the COVID-19 pandemic, the aspartame sector was severely impacted. The demand from customers for the product was impacted by the government's action because they could not make purchases during the lockdown that various governments worldwide ordered. However, in 2020, more people bought dietary supplements at the point of sale. Also, customers' need to choose functional foods, coffee, breakfast significantly increased the demand for sugar-free goods. Therefore, though the pandemic initially disrupted the demand and supply of aspartame, the market is bound to rise during the forecast period.

Market Growth Factors

Growing knowledge of sugar's harmful impacts on health

Foods and drinks with added sugar are known to have harmful impacts on health and to increase the overall costs of treating diabetes, cardiovascular diseases, and tooth decay. Around 760 billion USD were spent globally on diabetes in 2019, 10% of all adult spending. Governments worldwide have launched attempts to reduce sugar consumption as a result of the rising demand for the healthcare systems of the nations. According to estimates from the World Health Organization (WHO), a single can of beverage typically contains roughly ten teaspoons of sugar. Similarly, the International Diabetes Federation (IDF) estimates that by 2021, more than 537 million people worldwide are living with diabetes. By 2045, there will be 783 million, increasing the demand for aspartame. Therefore, the growing substitution of sugar owing to its adverse effects with aspartame is proving to be a significant factor boosting the market expansion.

Growing pharmaceutical sector to drive aspartame consumption

Globally, consumers are becoming more health-conscious and moving toward healthier lifestyles. Due to increased purchasing power and a greater emphasis on aesthetics, consumers in today's world are spending more money on products that offer a greater number of benefits. There is a high demand for nutraceutical products and supplements to reach the required nutritional level and prevent health issues. By putting aspartame in supplements for better taste, major manufacturers are attempting to capitalize on the emerging health trends. Therefore, the demand for aspartame is anticipated to rise in the near future due to rising supplement intake. Hence, the expanding pharmaceutical industry and its rising adoption of aspartame in various processes will boost the expansion of the market throughout the forecast period.

Market Restraining Factors

The rising availability of natural sweeteners and other products

The primary users of aspartame have access to a variety of artificial sweeteners. Players have been inspired to innovate and create natural sweeteners based on stevia leaves by the rising demand for organic and natural food products. Today's consumers want low-calorie sweeteners in their food and beverages made from organic plants. This element is anticipated to reduce the aspartame's demand. Artificial sweeteners, as well as the health issues they may create, have sparked concerns throughout the years. In addition, shifting consumer preferences, new product developments, and increased availability of rival goods like sucralose, an artificial sweetener with a longer shelf life than aspartame, could limit the market's growth over the coming years.

Product Form Outlook

Based on product form, the aspartame market is categorized into powder and granular. The granular segment procured a considerable growth rate in the aspartame market in 2022. Aspartame granular is a nutritive sweetener made up of two amino acids: L-phenylalanine and L-aspartic acid. These amino acids combine to form aspartame. This low-calorie sweetener does not leave a metallic aftertaste and does not linger in the mouth. Aspartame is absorbed in the same manner as other foods high in protein and is safe for diabetics since it comprises the same basic building blocks of protein as those foods. The demand for aspartame granules is growing because it is a wonderful sweetener alternative that can help consumers accomplish calorie and taste goals.

Aspartame Market Share and Industry Analysis Report 2022

End User Outlook

On the basis of end user, the aspartame market is divided into food & beverages, pharmaceuticals, and table-top sweeteners. The food and beverages segment acquired the largest revenue share in the aspartame market in 2022. This is due to the widespread use of aspartame in numerous food products since it has the ability to expand the shelf life of food products in addition to its taste-enhancing properties. Aspartame is frequently used to produce various sweets, jellies, candies, and other types of food preparations. Because of its widespread use in various diet beverages, coffee, and other carbonated drinks, aspartame is anticipated to drive a large increase in the segment's growth.

Food & Beverages Outlook

The food & beverages segment is further subdivided into beverages, bakery & confectionery, dietary, and dairy. The beverages segment witnessed the maximum revenue share in the aspartame market in 2022. In recent years, aspartame use has increased in beverages due to the increased demand for these products and the rising demand for low-sugar and no-sugar variants. The pH range where aspartame is relatively stable is between 3 to 5, which is where most soft drinks fall aspartame is frequently combined with saccharin, a more robust form of sweetener, in order to create products with a longer shelf life, such as syrups for fountain beverages or cold drinks.

Sales Channel Outlook

Based on sales channel, the aspartame market is segmented into offline and online. The offline segment procured the highest revenue share in the aspartame market in 2022. The fact that conventional and organic food items, as well as a wide variety of other food products, can be purchased at offline stores, as well as the ease with which these establishments can be reached, are the primary drivers of this expansion segment.

Aspartame Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 375.9 Million
Market size forecast in 2029 USD 476.4 Million
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2029
Revenue Growth Rate CAGR of 3.5% from 2023 to 2029
Number of Pages 212
Number of Table 430
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
Segments covered Product Form, End User, Sales Channel, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Growing knowledge of sugar's harmful impacts on health
  • Growing pharmaceutical sector to drive aspartame consumption
Restraints
  • The rising availability of natural sweeteners and other products

Regional Outlook

The Asia Pacific segment recorded the largest revenue share in the aspartame market in 2022. The consent of regulatory bodies on the use of powerful sweeteners is considerable in Asian nations like New Zealand and Australia, which is likely to drive a significant increase in the aspartame market over the next several years in the Asia Pacific region. In addition, it is anticipated that granting an authorized license for the utilization of aspartame will result in a rise in the number of regional aspartame manufacturers and distributors.

Free Valuable Insights: Global Aspartame Market size to reach USD 476.4 Million by 2029

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.

Scope of the Study

Market Segments Covered in the Report:

By Product Form

  • Powder
  • Granular

By End User

  • Food & Beverages
    • Beverages
    • Bakery & Confectionery
    • Dietary
    • Dairy
  • Pharmaceuticals
  • Table-Top Sweetener

By Sales Channel

  • Offline
  • Online

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • 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
  • Hermes Sweeteners Ltd.
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Frequently Asked Questions About This Report

The Market size is projected to reach USD 476.4 million by 2029.

Growing pharmaceutical sector to drive aspartame consumption are driving the market in coming years, however, The rising availability of natural sweeteners and other products restraints the growth of the market.

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.

The Food & Beverages market is leading the segment in the Global Aspartame Market by End User in 2022; thereby, achieving a market value of $292.8 Million by 2029.

The Asia Pacific market dominated the Market by Region in 2022; thereby, achieving a market value of $232.4 Million by 2029.

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