Neotame market size in the world was estimated to be US$ 15.8 Mn in 2022 and is anticipated to increase at a CAGR of 7.4% from 2022 to 2032. In 2032, the market is projected to be worth $32.3 million. Around 1% of the market for artificial sweeteners worldwide is occupied by neotame.
Neotame is an artificial sweetener with off-white to white powder and an intensely sweet taste. Neotame is manufactured from 3,3 –dimethylbutyraldehyde and aspartame. Neotame purification and isolation is carried out by distillation of a portion of the methanol followed by addition of water. Neotame comes in the second generation of artificial sweetener followed by sucralose. Neotame delivers great taste and enhances flavors when used as a sweetener. However, neotame clean, sweet taste like sugar is used in small amount to sweeten foods and beverage. This is due to neotame artificial sweetener properties is said to have 8,000 times more sweetness than that of sugar.
Neotame is the highly potential for use in many products and also as a substitute for sugar that helps to maintain low sugar level in the body as it adds no calories to an individual’s diet. It can also replace or reduce non-nutritive and nutritive sweeteners while maintaining great taste. Additionally, neotame can be added safely to individual meal plan suffering from diabetes to help them achieve their dietary goals. Also, neotame as a standalone product would not provide an energy source for oral bacteria. Thus it will not cause any dental cavities
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Neotame Market: Dynamics
Neotame outperforms in the artificial sweetener market. This is due to no effects on glycemic control or insulin concentration and plasma glucose in a diabetic individual. Moreover, the potential growth factor for neotame market is people of all age, teen & children, diabetic patients, pregnant women can enjoy products composed with neotame and maintain a healthful diet.
The rising demand for low calories in the food products and beverages is witnessed as a key driver for neotame market growth. Another potential factor for neotame market is the rising health issues such as obesity and diabetes amongst individual though consumption of high sugar-sweetened food items and beverages. Neotame has an increasing preference in food and beverage industry. The properties of neotame have the ability to get eliminates and get rapidly metabolized from the body is another driving factor for the growth of global neotame market. Neotame wide acceptance in processed foods such as dairy products, jams & jellies, baked goods and confectionary is said to be another factor for the growth of neotame market.
Neotame Market: Region wise Outlook
The global neotame market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). Geographically the market is dominated by some large player controlling the global neotame market, also the growing domestic players entering neotame market. Europe holds a relatively higher share of neotame market. This is due to the food authorities has approved the use of neotame as an additive in food and beverage, and thus it has resulted in high demand from the countries like UK and Germany.
Followed by Europe is North America which holds relatively lower share. The market players in North America have started consumption of neotame in various beverage, owing to the standard sugar which leads to various health effects in an individual. North America and Europe will witness high CAGR in the forecast period. Extended regulatory approval for the use of neotame has resulted in significant boosted demand in the region. China in APEJ is dominating in terms of producing neotame due to demand from various countries like INDIA and Australia. Thus APEJ is estimated to grow at healthy CAGR in the forecast period. The regions in Europe and North America is expected to show a high CAGR owing to increase application in wide varieties of food products and beverages
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Neotame Market: Prominent players
- Prinova Group LLC
- Shaoxing Marina Biotechnology Co.,Ltd.
- The NutraSweet Company
- A & Z Food Additives Co
- Fooding Group Limited
- McNeil Nutritionals
- Ingredion Incorporated
- Jk sucralose Inc.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
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Neotame Market: Segmentation
Based on application: Neotame market can be segmented into
- Baked goods
- Fermented milk products
- Carbonated soft drinks
- Other food products
Based on industry: Neotame market can be segmented into
- Food & Beverage
- Pharmaceutical
- Cosmetic
- Agriculture
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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