Global Neotame Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028

Global Neotame Market: Overview

“The global Neotame Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Neotame can be microencapsulated in order to encourage controlled release, increase stability, and enable its application in food formulations. Neotame is an artificial sweetener derived from aspartame and is considered its potential successor. This sweetener has essentially same qualities as aspartame, such as a sweet taste, without a bitter or metallic aftertaste. Neotame has advantages over aspartame, such as stability at a neutral pH, which makes its use in baked foods.

Global Neotame Market: Dynamics

Increasing demand for neotame by food industry as artificial sweetener and flavor enhancer is a major factor expected to drive growth of the global market. In addition, innovative product offerings by food manufacturers, owing to low manufacturing costs of neotame is another factor expected to further boost growth of the global market to certain extent.

Rising health concern among individual and increasing demand for low-calorie food and calorie-free food products across the globe are some other factors expected to further propel growth of the global market. In addition, increasing government spending on agriculture sector, coupled with adoption of neotame from agriculture sector is another factor expected to further support growth of the target market to certain extent.

However, stringent and time consuming product approval by the government is a major factor expected to hamper growth of the global neotame market to certain extent.

Increasing investment for R&D activities and innovative product offerings by major players are some other factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Neotame Market: Segment Analysis

Among the end user segments, the food & beverage segment is expected to dominate in the target market over the forecast period, owing to rising adoption of neotame as artificial sweetener in manufacturing of various food products.

Among the application segments, the carbonated soft drinks segment is expected to dominate in the target market over the forecast period.

Global Neotame Market: Region Analysis

The market in North America is expected to dominate in the global market in terms of revenue and is anticipated to continue its dominance over the forecast period. This dominance can be attributed to increasing demand from cosmetic industry and presence of major players operating in the countries in this region.

The market in Asia Pacific is projected to witness faster growth, owing to increasing demand from agriculture and pharmaceutical sector and presence of prominent players operating in the emerging economies in this region. The market in Europe is expected to contribute significant revenue share to the global market, this growth can be anticipated to increasing demand from food & beverage sector. In addition, strategic expansion activates by major players is expected to further support growth of the target market in this region.

The market in Latin America is expected to witness moderate growth, owing to increasing presence of food manufacturing units in developing countries in this region.

Global Neotame Market Segmentation

Segmentation by application

• Carbonated Soft Drinks
• Fermented Milk Products
• Baked Products

Segmentation by end-user

• Agriculture
• Cosmetics
• Pharmaceutical
• Food and Beverage

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa