Neotame is a growing market and China has new suppliers entering the market. Huasweet is one of the largest manufacturer with total annual capacity of 1000 MT.

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Aspartame Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Aspartame category is 5.30%

Payment Terms

(in days)

The industry average payment terms in Aspartame category for the current quarter is 75.6 days

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    Aspartame market report transcript

    Global Market Outlook on Aspartame 

    • The global HIS market is expected to grow at an average rate of 5.3 percent between 2023 and 2026, driven by increasing consumer awareness, cost-effective substitution, and continuous availability. The Ace-K market is estimated to be valued at about $0.025 billion with a CAGR of about 5.3 percent between 2023 and 2029

    • Growth in demand is expected to be high in the Asia Pacific. China, India, and Australia will drive the demand for HIS, especially in the beverage industry

    Aspartame Cost Structure Analysis

    • Consolidated buying of HIS from two to three suppliers can benefit the buyers in the long run, owing to indirect cost and high consumables cost.

    • Raw material is the major cost driver, amounting to 43 percent of the total cost of production. Sucrose contributes to about 14 percent to the total cost of production of sucralose

    • Raw material cost contributes to 77 percent to the total cost of production of aspartame. Fluctuation in the prices of raw materials by ±10 percent has an impact on the production cost of aspartame by ± 9 percent

    • The production cost of acesulfame potassium is driven by the raw material and consumable costs. They contribute about 48 percent and 44 percent to the production cost, respectively

    Global Aspartame Production

    • The global aspartame market is estimated to be valued at about  USD 8.96 Billion in 2023and is projected to grow at a CAGR of 4.9 percent over the forecast period 2023–2029. The overall global market demand of aspartame is nearly 30,000 MT, with China being the key manufacturing base. However, the actual production is about 35,000–38,000 MT. There are about 10 major manufacturers of aspartame in the world, of which, seven are located in China. Ajinomoto Group, Hyet Sweeteners, and Daesang Corporation are the other large suppliers outside China.

    Aspartame Trade Analysis

    As of 2022, Chinese exports witnessed an increase of more than 25 percent compared to the same period in the last five years, due to high global demand and low-priced sweeteners. However, the surging ocean freights and shipping delays and port congestion in China led to lowered buyer interest until situation improved. Sugar tax policy in many countries is expected to increase the exports from China in the next few years.

    Anti-Dumping Duty on Aspartame from China to EU

    • Over the last five years, the EU’s aspartame demand declined, due to the increased popularity of sucralose and increased exports of low-priced Chinese aspartame

    • The EU has thus imposed anti-dumping duty rates individually on all Chinese manufacturers of aspartame as per the dumping margins earned by them before the trade investigation

    Aspartame End-use Application

    Growing consumption of diet-based beverages in the developed markets increased the share of aspartame in the HIS market. At present, stevia is expected to decrease its use in beverage applications because of the increasing health awareness among consumers.

    Downstream Demand

    • Aspartame is legally approved in major markets, like the EU, the US, Canada, Japan, and Australia

    • It is 200 times sweeter than sugar, and beverage is the major consuming industry

    • Aspartame is commonly blended with acesulfame K as a sweetening agent in carbonated diet soft drinks

    • The food industry application includes confectionary and chewing gums, consuming 5 percent of its total production

    • In the US, most popular brands of the table top sweeteners are “Equal” – aspartame-based sweetener and “Splenda” – sucralose-based sweetener

    • However, the market share of “Equal” is less than 10 percent, where “Truvia”, another growing sweetener brand is driving the market

    • Sucralose and acesulfame K have a substitute threat to aspartame in the HIS market

    • Africa and Asia Pacific have the lowest per capita consumption of aspartame

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