Aspartame Market Forecast 2029 to Explore Emerging Trends of Coming Years | Straits Research

Aspartame is one of the largest consumed artificial sweeteners and falls under the high-intensity sweeteners category. It is identified as a low-calorie sweetener, which is widely used as a sugar alternative in the food and beverage, pharmaceutical, and personal care, and cosmetics industries.

North America is expected to grab the lion's share in the aspartame market. More than 60% of the consumers present in the region use artificial sweeteners and low-calorie products. The use of aspartame is widely seen in tabletop sweeteners, chewing gums, puddings, tea, and other desserts. The approval from the FDA for the use of aspartame for multiple uses in the food & beverage sector boosts the market growth.|
U.S. Department of Agriculture, Americans on average consume 156 pounds of sugar each year. The region is seeing a higher number of people having diabetes and obesity. People in the U.S. are adopting a healthy lifestyle and preferring dietary foods and drinks to maintain weight and blood sugar levels. Moreover, aspartame does not have a bitter taste as compared to other substitutes, making it an ideal choice for a wide variety of sweet foods and drinks.

According to the data published by the American Diabetes Association, in 2018, around 10.5% of the population or 34.2 million Americans were diagnosed with diabetes. Moreover, the statistics presented by the International Diabetes Federation (IDF) states that more than 465 million people lived with diabetes in 2019, with the number rising to 700 million by 2045, further driving the demand for aspartame.

Over the years, concerns have been raised relating to artificial sweeteners and the health problems caused by them. Experts claim that aspartame has the potential to cause cancer and damage genes in the long-run. However, many regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the WHO, among others, favor the proportional consumption of aspartame.

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The Major Players Covered in this Report: Dehydrates Inc., Saraf Foods, Pvt. Ltd., Berrifine A/S, La Frubense, BCFoods, Inc., Nestle S.A., B-B Products (Australia) Pty Ltd., FREEZE-DRY FOODS, DMH Ingredients, Inc., HOWENIA ENTERPRISE CO., LTD, Seawind Foods, Royal Ridge Coffee Beans, Flex Foods, Spectrum Brands, Freeze-Dry Foods, Ziwi pet oil, Sensient Technologies, & More...

By Product Coffee Beans, Fruits and Vegetables, Herbs, Meats,
By Form Chunks/Pieces, Powder and Granules, Flakes,
By End-User Household, Commercial,
By Distribution Channel B2B, B2C, Store-Based Retail, Hypermarket and Supermarket, Convenience Store, Specialty Stores, Online Retail

View Full Report @ https://straitsresearch.com/report/aspartame-market/

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Aspartame in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Aspartame market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Aspartame and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Aspartame. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Impact of COVID-19:
The outbreak is expected to restrict the growth of the aspartame market in the future. It is observed that the pandemic is likely to have severe effects on the elderly with low immunity. The need for medicines and nutritional products globally is expected to improve the overall demand for aspartame. However, the social distancing norms and lockdowns imposed by governments have caused uncertainties in the global economy. Moreover, the novel coronavirus has disrupted the global supply chain, further creating a shortage of rawmaterials. The lower production levels and higher sourcing of rawmaterials are expected to dampen the market growth in the short-run. 

Key Highlights:
The aspartame market is projected to have a lucrative growth rate during the forecast period, owing to the rising number of people with obesity and diabetes

The food and beverage segment holds the highest market share in the aspartame market
Asia-Pacific is anticipated to observe a high growth rate in the aspartame market, particularly in India and China

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