Zion Market Research has published a new report titled “Neotame Market by Application (Carbonated Soft Drinks, Fermented Milk Products, Baked Products, and Others) and by End-User (Agriculture, Cosmetics, Pharmaceutical, and Food & Beverage): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2025”. According to the report, the global neotame market was approximately USD 13 million in 2018 and is expected to generate around USD 17 million by 2025, at a CAGR of around 7.45% between 2019 and 2025.
Neotame is an artificial sweetener and a flavor enhancer, which is an off-white or white powder with an intensely sweet taste. Neotame enhances flavors and provides great taste when used as a sweetener. Neotame is 8,000 times sweeter than sugar. The high demand in the food industry and low manufacturing costs of neotame are the primary drivers likely to stimulate the growth of the global neotame market in the upcoming years. The growing demand for low-calorie food and calorie-free food products across the globe is anticipated to boost this market’s growth in the future. Rising health concerns among the people in developing countries are also projected to contribute notably toward the neotame market growth in the future. However, the time-consuming government approval process might limit the neotame market on a global scale in the future.
By application, the neotame market includes carbonated soft drinks, fermented milk products, baked products, and others. Carbonated soft drinks are expected to dominate the global neotame market in the future. This can be attributed to the rising acceptance of zero-calorie soft drinks for controlling obesity. By end-user, the neotame market includes agriculture, cosmetics, pharmaceutical, and food and beverage. The food and beverage segment is expected to dominate the neotame market globally in the future, owing to the growing demand for low-calorie food products by the global population.
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segment of the global neotame market. The European region held a major revenue share of the global neotame market in 2018 and is expected to continue its regional domination in the upcoming years. This regional growth can be attributed to the growing use of neotame in the food and beverage industry, especially in UK and Russia, and the presence of several regulatory bodies across the region along with the rising promotion of product safety. The Asia Pacific region is expected to provide significant growth avenues in the global neotame market in the future. The rising health consciousness among the population is the primary factor likely to drive this regional market in the upcoming years. The need for neotame in low-calorie food and beverages is anticipated to further stimulate the growth of this regional market in the future.
Some industry players of the global Neotame market include Shaoxing Marina Biotechnology Co., Ltd., Prinova Group LLC, A & Z Food Additives Co., The NutraSweet Company, McNeil Nutritionals, Fooding Group Limited, JK Sucralose Inc., and Ingredion Incorporated.
This report segments the global neotame market into:
Global Neotame Market: Application Analysis
Global Neotame Market: End-User Analysis
Global Neotame Market: Regional Analysis
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