The global Neotame Market size was valued at USD 15.8 Million in 2022 and is expected to grow at a CAGR of 7.4% from 2022 to 2032. The market is anticipated to reach a valuation of USD 32.3 Million in 2032. Neotame holds around 1% of share in the global artificial sweetener market.
| Attributes | Key Statistics |
|---|---|
| Neotame Market Estimated Size (2022E) | USD 15.8 Million |
| Projected Market Valuation (2032F) | USD 32.3 Million |
| Value-based CAGR (2022 to 2032) | 7.4% |
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Neotame is an aspartame derivative, high intensity sweetener. It received FDA approval in 2002 and the European Union sanctioned it for use in 2010. These standards have eliminated the need for a special PKU warning label on neotame-based products.
Neotame is a white to off-white powder that is water soluble. It is also very easily soluble in alcohol, as well as ethyl acetate. Neotame has a sweet, sugary flavor with a licorice aftertaste. In comparison to sucrose, the relative sweetness can reach 8000 times. Neotame improves and develops sweetening & flavoring properties of certain flavors, particularly mint.
The neotame market is rapidly expanding as consumers have become more health-conscious. They are preferring an alternative that provides the similar amount of sweet taste as sugar, while also offering some nutrients. Growing trend of sugar-free, low calorie, natural ingredients infused, and organic products is set to drive the market over the forecast period.
The market for neotame is primarily driven by increasing demand for food additives and surging use as an artificial sweetener and flavor enhancer. Neotame also helps to reduce production costs as it is utilized in very little amount to attain the intended sweetening. It is set to exhibit immense popularity across the globe owing to its increasing utilization in the food and beverage industry for the manufacturing of a wide range of products at a relatively low cost.
Owing to its stability, neotame is extensively used in both culinary and baking applications. It can be integrated with nutritive sweeteners such as high fructose corn syrup and sucrose, as well as high intensity sweeteners, to mimic the taste of existing products while saving the overall cost. Neotame is approved for use in a large number of countries around the world, including Europe, Africa, North America, South America, Asia, and Australia.
Consumers are becoming more health conscious about the food and beverages they consume, particularly carbonated and sweet beverages. Neotame can provide the correct quantity of nutrient, apart from a little volume of sweetness, thereby maintaining both the taste and nutritional value. The additive is thus expected to be preferred by all age groups as it has the ability to maintain the overall nutritional value while also initiating weight management among consumers.
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Use of Neotame as a Flavor Enhancer to Drive the USA Market
As per FMI, the USA neotame market is expected to reach USD 3.7 Million in 2022 and is set to grow at a CAGR of 6.6% by 2032. Increasing adoption of neotame in the country’s well-established food and beverage industry for use as an efficient sweetener and flavor enhancer is anticipated to drive the market.
Besides, neotame has several benefits over aspartame, including high pH stability, which allows it to be used in various food items. High efficacy and potency of neotame is another crucial factor that would push growth in the USA
High Demand for Artificial Sweeteners among Millennials to Aid Growth
According to FMI, sales of neotame in Germany are anticipated to rise at a notable CAGR over the forecast period and hold a share of more than 16% in 2022. Increasing demand for novel food additives that can offer nutritional values such as low calorie and low sugar, without negotiating taste is expected to propel Germany during the forthcoming years.
Organic Food Additives to Gain Impetus in China
The China neotame market holds more than 45% of share in East Asia. Rising emphasis on overall health and wellness among the ever-increasing population is encouraging consumers to eat healthy food products. Surging demand for food items that are low in sugar, calories, and are infused with organic ingredients would also fuel the China market.
Food and Beverage Companies to Use High Intensity Sweeteners like Neotame
By end-use application, the food and beverage segment holds the largest share in the global neotame market. According to Future Market Insights, products such as jellies, candies, yogurts, desserts, ice-creams, and beverages have high penetration of neotame due to its sweetening characteristics.
It is considered to be a high intensity sweetener and because of this property, food and beverage manufacturers are expected to extensively use the additive during the forecast period.
Use of Neotame as a Flavor Enhancer in Animal Feed to Boost B2B Channel
Based on sales channel, the on direct sales/B2B segment is projected to dominate the global neotame market as the additive is set to be increasingly used in the beverage and food processing industry. Neotame is also used in animal feed and due to this factor, sales of the additive through B2B channels are expected to grow at a rapid pace.
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Key players are aiming to accelerate their market presence in various regions and counties to keep up with the surging demand for neotame. They are also investing huge sums in research and development activities to come up with innovative products and generate high shares in the global market.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 15.8 Million |
| Projected Market Valuation (2032) | USD 32.3 Million |
| Value-based CAGR (2022 to 2032) | 7.4% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Value (USD Million) and Volume (MT) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC Countries, Turkey, South Africa, North Africa, and Central Africa |
| Key Segments Covered | End-use Application, Sales Channel, and Region |
| Key Companies Profiled | Foodchem International Corporation; Fooding Group Limited; Prinova Group LLC; NutraSweet Co; HuwSweet Co Ltd.; SinoSweet Co Ltd.; JK Sucralose Inc.; H & A Cannada Inc.; WuHan HuaSweet Co., Ltd; HYET Sweet S.A.S |
| Report Coverage | Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives |
The global neotame market is expected to be valued at around USD 15.8 Million in 2022.
The North America neotame market is anticipated to record 6.8% CAGR between 2022 and 2032.
The demand for neotame is expected to grow at 7.9% CAGR in Europe between 2022 and 2032.
China, the USA, India, and Germany are some of the top countries in the neotame market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Neotame Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use Application 5.1. Food and Beverage 5.1.1. Bakery 5.1.2. Confectionary 5.1.3. Candies and Jellies 5.1.4. Chewing gums 5.1.5. Beverage 5.1.6. Desserts 5.1.7. Dairy Segment 5.1.8. Ice Creams 5.2. Pharmaceuticals 5.3. Animal Feed 5.4. Cosmetics and Personal Care 5.5. Other 6. Global Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 6.1. On Direct Sales/B2B 6.2. Indirect Sales/B2C 6.2.1. Health & Beauty Store 6.2.2. Pharmacies/Drugstores 6.2.3. Modern Trade Channel 6.2.4. Online Retailing 7. Global Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. MEA 8. North America Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Neotame Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Neotame Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Foodchem International Corporation 17.2. Fooding Group Limited 17.3. Prinova Group LLC 17.4. NutraSweet Co 17.5. HuwSweet Co Ltd. 17.6. SinoSweet Co Ltd. 17.7. JK Sucralose Inc. 17.8. H & A Canada Inc. 17.9. WuHan HuaSweet Co., Ltd 17.10. HYET Sweet S.A.S 17.11. Shaoxing Marina Biotechnology Co Ltd. 17.12. Beneo Nutrition 17.13. Others (on additional request) 18. Assumptions & Acronyms Used 19. Research Methodology
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Neotame Market
