Aspartame Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Aspartame market reached a value of about USD 3.05 billion in 2021. The industry is projected to grow at a CAGR of around 4.5% in the forecast period of 2022-2027 to reach a value of about USD 3.97 billion by 2027.

The global Aspartame industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising health consciousness among consumers and preference for sugar substitutes drive the industry's growth. North America is the highest category spender by region that is driving the demand for the Aspartame industry.

Industry Definition and Segmentation

Aspartame is a dipeptide comprising phenylalanine and aspartic acid that is synthesised; it is a non-saccharide artificial sweetener 200 times sweeter than cane sugar and is used as a non-nutritive tabletop sweetener and in low-calorie prepared dishes, but not for baking. It is often used to replace sugar in meals and beverages. The Aspartame industry report comprises segments by application (Beverage, Food, Tabletop, Sweeteners, and Pharma & Others) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

North American Region is Driving the Growth of the Industry

North America holds the largest share in the industry due to the increased usage of aspartame in beverages such as milk, drinks, tea, and soft drinks and the presence of rules and regulations within the area.

The extensive application of the product is aiding the market in the food, beverage, and health and personal care industries. The rising health consciousness among consumers leads to an increased demand for Sugar alternatives furthering the industry's growth. The surge in popularity of non-nutritive, powerful sweetening agents generated from genetically engineered amino acids and increased government restrictions pushing producers to utilise certain additives such as flavourings and colouring agents are further boosting the market expansion. Other factors such as changing lifestyles, increased consumer purchasing power, and increased marketing and branding of various sugar replacement goods are likely to impact the market positively.

However, strict regulations over its use and possible adverse health effects are likely to hamper the industry's expansion.

Best Procurement Practices

The global Aspartame industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Aspartame regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Microbial fermentation and synthesis are combined to make aspartame. Microbial fermentation produces phenylalanine and aspartic acid, which are then reacted with methanol to form the methyl ester. Aspartic acid is also coated with benzyl rings to preserve the active sites. The modified amino acids are then combined at the proper temperatures in a reaction tank to produce aspartame intermediates. It is then refined, crystallised, and pulverised after being treated with acetic acid.

Wide Range of Applications, Further Propelling the Procurement Aspartame Market

The industry is witnessing growth due to the various applications of the product. The product is used in the beverage business, particularly in the soft drink and carbonated beverage segments. It is found in diet sodas, light or low-sugar juices, and flavoured waters, as well as dairy products (such as light yoghurt and low-fat flavoured milk), nutrition bars, desserts (such as sugar-free puddings and gelatines, light ice cream, and popsicles), chewing gum, sauces, syrups, and condiments propelling the industry forward. Low-calorie sweeteners are sold in little individual packets that are sweetened to the same amount as two tablespoons of sugar. Aspartame is often accessible in blue packs and may be purchased at restaurants or coffee shops. Also, it is claimed to be safe for children, pregnant women, people with diabetes, and nursing mothers, thus resulting in increased demand. It is also used to improve the palatability of several prescription and over-the-counter drugs and chewable vitamins, augmenting the industry's development.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Aspartame Industry Report

• HYET Sweet
• Ingredion Inc.
• Daesang Corporation
• Tate and Lyle Plc
• Kaifeng Xinghua Fine Chemical Ltd.

Market Landscape

The aspartame market is fragmented, with several big and minor regional companies. To stay afloat in increasing competition, these companies are focusing on inorganic development. The two primary reasons driving the aspartame market are the increasing inclusion of novel sugar replacement products and critical players concentrating on growing their worldwide footprint via new product innovations and releases. Furthermore, market participants benefit from research and development operations that improve the product.

Key Initiatives by Companies

• The Coca-Cola Company introduced innovative diet coke flavours in January 2018, using a sweetener combination of Acesulfame potassium (ace-K) and aspartame.
• DULCENTTM aspartame, sucralose, and Ace-K sweeteners from Ingredion provide sweetness, functionality, and cost reductions in various applications.