Aspartame Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024
Albany, NY -- (SBWIRE) -- 11/11/2016 -- Overview:
Aspartame is a sweetener, which is majorly used in food and beverage companies. The use of aspartame have started around 1965 and it is used mostly in low-calorie products and is approximately 200 times sweeter than table sugar. It is made up of amino acids, which are phenylalanine and aspartic acid and a small amount of methanol. One of the major benefit of using aspartame is that it contains amino acid, which is known as the building blocks of protein. Aspartame is one of the major artificial sweetener known in the market. It was concluded by The Food Safety Body that intake of 40 mg per kg of aspartame per day by a normal bodyweight is protective and accepted. Aspartame is majorly used to sweeten the diet sodas. Aspartame is low calorie sweetener and thus, provides several benefits to consumers who are calorie conscious. Few of the benefits of aspartame are its sugar like taste, it extends and enhances flavors, it does not result in tooth decay, it is beneficial in controlling weight and moreover it can serve as a content of a healthful diet.
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Global Aspartame: Market Segmentation
The global aspartame market is segmented on the basis of application, distribution channel and region. Application of aspartame is majorly into food production, beverages, pharmaceutical, cosmetics, animal & agriculture feed and others. Its application in food production occupies the largest market share globally. In food production it is majorly used as sweetener in gum, jam, candy, cereals, yogurt and others. In beverages it is used in soluble coffee, carbonated drinks and others. In pharmaceutical industry, aspartame is used as a sugar replacer for the patients with diabetes, cardiovascular disease and obesity.
The global aspartame market is segmented on the basis of distribution channels, which are supermarket/ hypermarket, departmental stores, convenience stores and others. It is majorly available in supermarket and hypermarket under different brand names.
Global Aspartame Market: Regional Outlook
Geographically, the market is segmented by North America, Latin America, Europe, Asian-Pacific Region, Middle-East and Africa. North America holds the largest share of aspartame production followed by Europe and Asia-Pacific and then rest of the world. Research and information shows that more than around 187 million of adult Americans, consumes low-calorie and sugar-free foods and beverages for an overall lifestyle, which is healthy.
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Global Aspartame Market: Growth Drivers
Aspartame is nearly about 200 times sweeter than regular table sugar. Thus, less consumption of aspartame imparts same level of sweet taste as present their in regular table sugar. The demand also grew in the past few decades due to growing health issues like diabetes and obesity. The market of aspartame is anticipated to be driven by escalating consumer trends for unique and healthy food products. Apart from this, to reduce and to maintain weight, to control diabetes, to reduce dental caries and many more, people have started consuming the alternative sweetener which is healthier in nature and so the demand for aspartame has increased across global. Usage of aspartame in low-calorie and sugar-free drinks or food is the driving factor for the particular market.
Global Aspartame Market: Players
Some of the key aspartame manufacturers identified includes Niutang Chemical Ltd., HYET Sweet, Cargill, Incorporated, Ajinomoto, Hermes Sweetener Ltd., Ingredion Incorporated, The NutraSweet Company, Foodchem International Corporation, Shaoxing Marina Biotechnology Co., Ltd. (Yamei aspartame) and others. The companies are expected to expand their business by enhancing their product portfolio in global aspartame market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global aspartame market till 2024.