The new report by Expert Market Research titled, ‘Global Neotame Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global neotame market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 5%
The emerging demand for food additives, along with the incremental shift towards neotame as an artificial sweetener worldwide, is driving the global market for neotame. Neotame also helps to reduce production costs as it is required to achieve the desired sweetening in less quantity, which further propels its demand growth. Because of its large demand from the food and beverage industry, where it is used to produce a variety of goods due to its cost-efficiency, the neotame market is witnessing a growth. As customers have now become increasingly aware of their wellbeing and prefer an alternative that provides the same amount of sweetness as sugar and a certain amount of nutrients, the neotame industry is expanding rapidly.
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Industry Definition and Major Segments
Neotame, an artificial sweetener, has a sweet taste like sucrose. Neotame has distinct benefits, such as strong stability at a neutral pH, high potency, moderate temperature stability, and fast metabolisation.
The market is segmented based on application into:
The regional markets for neotame include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The neotame industry is powered by the product’s broad applications in the food and beverage industry. It is used in confectioneries, bakeries, flavoured candies, and flavoured chewing gums for various applications Due to its less expensive nature and high rate of metabolism, neotame is primarily used in the food and beverage industry, thereby, aiding the growth of the market. It is increasingly rising in other applications such as cosmetics and pharmaceuticals as a result of increasing demand in the sectors. While neotame was approved by the FDA in 2002, the market might be hampered during the forecast period due to the ongoing controversy over its limited use in food products as it is harmful when ingested in large quantities.
Key Market Players
The major players in the market are WuHan HuaSweet Co., Ltd, Foodchem International Corporation, Fooding Group Limited, NutraSweet Co., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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