The global aspartame market size is likely to witness potential gains in the near future, and grow at a CAGR of 4.9% over the forecast period (2019 - 2027).
Aspartame is an artificial, low-calorie sweetener that has major application as a food additive. It is used in various food products and beverages such as breakfast cereals, soft drinks, chewing gum, as well as in the preparation of desserts. It is also used as a table top sweetener in cafes and restaurants. Aspartame is obtained by bonding two protein constituents, amino acids aspartic acid and phenylalanine, to create a dipeptide, which is then esterified with methanol. Research has found Aspartame to be 150 to 200 times sweeter than table sugar (sucrose), which means that the amount of aspartame required for inducing a sweetness is significantly less. Due to the fact that the caloric intake of Aspartame is almost negligible, it can be used as a substitute for sugar.
The U.S. Food and Drug Administration (FDA) has approved Aspartame as safe for human consumption, and has described it as the agency's most rigorously tested food additive. In countries like the U.S., aspartame has primary application in carbonated drinks, as well as in pharmaceutical preparations, chewing gum, and fruit based drinks. Its growing application in end use industries is expected to drive the growth of the global aspartame market in the near future. Furthermore, rising health awareness among the populace is another reason for the market to witness a positive growth during the forecast period. Rising prevalence of diabetes and obesity is projected to encourage users to look for alternatives to sugar. An increase in demand for low calorie drinks and foodstuffs is driving growth of the food and beverage industry, as well as other end use industries such as the packaged food sector. This, in turn, is expected to propel demand for sugar substitutes such as aspartame.
However, factors such as a low shelf life owing to decreased stability at higher temperatures, may hamper the growth of the aspartame market. Moreover, changing customer preferences, new product innovations, and increasing presence of competing products such as sucralose, which has a longer shelf life compared to aspartame, can restrain the demand for aspartame over the forecast period.
Asia Pacific, owing to swiftly expanding consumer base and industrialization, is expected to dominate the global aspartame market. Rapid urbanization, rising population, and increasing disposable income in countries such as India and China, is projected to benefit the market in terms of consumer demand for aspartame. North America is estimated to contribute a significant market share owing to growing health awareness, and increasing consumption of food and beverage products such as tea, soft drinks, and milk which use aspartame as a healthy alternative for sugar. Moreover, strict rules and regulations by regulatory bodies in the region will also play an important role in driving demand for aspartame in North America.
Some of the prominent players in the global aspartame market are Taj Pharmaceuticals Ltd., The Nutrasweet Company (Monsanto), Sinoway International (Jiangsu) Co., Ltd., Niutang Chemical Ltd., and the Holland Sweetener Company.