Neotame Market

Market Overview:

The global neotame market size reached US$ 14.31 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.89 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028. The augmenting demand for low-calorie sweeteners for use in food products, rising awareness regarding the adverse effects of traditional sweeteners, and the increasing prevalence of diabetes among the masses represent some of the key factors driving the market.

Neotame (C20H30N2O5) refers to an artificial, non-nutritive high-intensity sweetener that can provide a high level of sweetness even at low concentrations. It can be used to make food and beverage formulations sweeter by reducing or eliminating the need for sugar or other sweeteners, making it advantageous for individuals monitoring their sugar intake or managing conditions like diabetes. Neotame is highly stable under extremely high temperatures and does not break down into undesirable by-products, making it suitable for use in baked goods, processed foods, and beverages that require various heat treatment during processing. Additionally, its high solubility in water allows for easy incorporation into a wide range of food and beverage applications. Neotame is characterized by white color, crystalline powder form, and a clean, sweet taste without any lingering aftertaste. As a result, neotame contributes to a more pleasant sensory experience in food and beverages and has been approved as a food additive in several countries worldwide.

Neotame Market Trends: 

The global market is primarily driven by the augmenting demand for low-calorie sweeteners for use in food products. In line with this, the rising awareness regarding the adverse effects of traditional sweeteners is resulting in a higher uptake of neotame as a healthier substitute for their conventional counterpart. Moreover, the increasing prevalence of diabetes among the masses is fueling the demand for sugar-free and low-sugar products, which, in turn, is driving the demand for neotame. In addition to this, the escalating popularity of convenience foods, such as ready-to-eat meals, snack bars, and energy drinks, is driving the demand for neotame as a low-calorie sweetener. The market is further driven by the favorable initiatives undertaken by regulatory bodies approving the use of neotame as a food additive ingredient, which is resulting in a higher product utilization in the food and beverage industry. Apart from this, the increasing demand for plant-based sweeteners among individuals due to the increasing adoption of vegan and vegetarian lifestyles is creating lucrative opportunities in the market. Furthermore, strategic partnerships and collaborations among key players to expand their geographical presence is also acting as a significant growth-inducing factor for the market. Some of the other factors contributing to the market include rapid urbanization, shifting consumer preference towards health and fitness, rapid expansion of the food and beverage (F&B) industry, inflating disposable income of the consumers, and extensive research and development (R&D) activities.

Key Market Segmentation: 

IMARC Group provides an analysis of the key trends in each segment of the global neotame market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on application.

Application Insights:

• Food and Beverage
• Pharmaceuticals
• Animal Feed
• Cosmetics and Personal Care
• Others
   

The report has provided a detailed breakup and analysis of the neotame market based on the Product. This includes food and beverage, pharmaceuticals, animal feed, cosmetics and personal care, and others. According to the report, food and beverage represented the largest segment.

Regional Insights:

• North America 
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain
  • Others 
• Asia Pacific 
  • China 
  • Japan
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for neotame. Some of the factors driving the Europe neotame market included the increasing prevalence of diabetes among the masses, rapid urbanization, escalating popularity of convenience foods and ready-to-eat meals, inflating disposable income levels, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global neotame market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Advance Inorganics, Foodchem International Corporation, Fooding Group Limited, H & A Canada Inc., SCM Pioneering Co. Ltd., The NutraSweet Company, Wuhan HuaSweet Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report. 

Neotame Market Report Scope:

Key Questions Answered in This Report: 

• How has the global neotame market performed so far, and how will it perform in the coming years? 
• What are the drivers, restraints, and opportunities in the global neotame market? 
• What is the impact of each driver, restraint, and opportunity on the global neotame market? 
• What are the key regional markets? 
• Which countries represent the most attractive neotame market? 
• What is the breakup of the market based on the application? 
• Which is the most attractive application in the neotame market? 
• What is the competitive structure of the global neotame market? 
• Who are the key players/companies in the global neotame market? 

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the neotame market from 2017-2028. 
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global neotame market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region. 
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the neotame industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.