Global Aspartame Market - Forecasts from 2024 to 2029

Global Aspartame Market - Forecasts from 2024 to 2029

The aspartame market is anticipated to grow at a CAGR of 3.20% over the forecast period to reach US$356.472 million by 2029, increasing from estimated value of US$304.534 million in 2024.

Aspartame is a chemical/artificial sweetener that has been used in a variety of food and beverage products since the 1980s, including chewing gum, diet drinks, ice creams, dairy products such as yogurt, medications such as chewable vitamins and cough drops, and toothpaste. The Aspartame market is expected to grow due to significant factors such as the increase in the number of health-conscious populations worldwide who prefer sugar-free food and beverage products.

Aspartame contains low-calorie content compared to normal sugar, which is one of the reasons why there is a growing demand for aspartame across various end-user industries, especially in the food and beverage segment. According to the FDA it was in 1974 when the FDA approved aspartame as a sweetener, and till now, there is scientific evidence that continues to support the agency’s conclusion that aspartame is safe for the general population. The FDA established an acceptable daily intake of aspartame, and the amount of aspartame, which is considered to be safe for consumption throughout an individual’s lifetime, continues to be protective of public health.

ASPARTAME MARKET DRIVERS:

Rising demand for Aspartame as a substitute for sugar

As a substitute for sugar, the aspartame market has been witnessing immense growth, reflecting broader consumer preferences toward healthier dietary options. There has been a growing awareness of health issues such as obesity and diabetes, which are on the increase, thus resulting in the growing demand for aspartame as an artificial sweetener in various food and beverage products.

According to the Obesity Medicine Association, research indicated that in America, obesity is regarded as a public crisis. Furthermore, over the past decades, there has been an increase in obesity rates amongst all the population groups. According to the analysis provided by Trust for America’s Health as per the latest data from the Centers for Disease Control and Prevention (CDC) Behavioral Risk Factors Surveillance System in 2022, in the United States itself, 22 states reportedly have an obesity rate of above 35% which is up from 19% in comparison from the previous year. The obesity rate in top states of America stands at 41% for West Virginia, 40.1% for Louisiana, Okhlama accounting for 40%, and Mississippi accounting for another 39.5%. On the other hand, the District of Columbia accounts for 24.3%, Colorado (25%), and Hawaii (25.9%) are the 3 other states with the lowest adult obesity.

Aspartame Market Geographical Outlook
The Asia Pacific region will dominate the aspartame market during the forecast period.

The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region such as ASEAN countries. India's aspartame market is expected to grow due to the rising prevalence of diabetes. With the continuous growing awareness regarding health issues related to the consumption of sugar, there will be a growing demand for aspartame as a substitute for sugar but with less calorie content and one that is FDA-approved.

According to the World Health Organization, there is an estimated 77 million people who are above the age of 18 and are suffering from diabetes (type 2). Furthermore, there are nearly 25 million who are prediabetic (who are at a higher risk of developing diabetes shortly). In this regard, people with diabetes are the ones who are actively seeking out sugar alternatives to help manage their condition.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The aspartame market is segmented and analyzed as follows:

By Product Type

Powder
Granular

By Sales Channel

Online
Offline

By End-user Industry

Food and Beverages
Pharmaceutical
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
UAE
Rest of the Middle East and Africa
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific