Global Neotame Market Overview
Neotame is an artificial sweetener having a sweet taste to that of sucrose but excluding the bitter aftertaste. Neotame has some advantages over other sweeteners such as a decent stability at a neutral pH, stability at mild temperatures, extremely potent, rapidly metabolized, thus finding itself useful in baked foods and confectionaries. Neotame was first popularized by NutraSweet, an American nutrient company, after which it received scant criticisms but later with the approval flag from the Food and Drug Administration (FDA) and the World Health Organization(WHO), the global Neotame market witnessing a surge in demand. Neotame in its final form resembles confectioner’s sugar and thus offers some flexibility to manufacturers in developing new range of products that are proficient to meet the consumer’s demand and needs with a cost efficient business model.
Global Neotame Market Dynamics
The global Neotame market is at the budding stage as the demand for food additives is growing with a rapid pace and many manufacturers are slowing inclining towards using Neotame as an artificial sweetener. Moreover, it lowers the cost of production by the quantity needed to achieve the desired sweetening. The global Neotame market is invariably joining hands with the food and beverage industry as Neotame is being increasingly used for manufacturing a variety of products due to its mere cost and immense efficiency. Neotame as a sweetener provides better than normal sugar. It gets rapidly metabolized, gets completely eliminated from the body thus aiding in maintaining low sugar levels in the body. Since customers are now particularly adamant about their health they are keen on having an alternative which provides the same amount of sweetness as sugar with some amount of nutrients. This becomes the most positive market driver for the global Neotame market. Although approved by the FDA in 2002, the only negative market driver affecting the global Neotame market would be the ongoing debate about its limited use in food products do to its harmful effects when consumed in a large amount.
Global Neotame Market Segmentation
The global Neotame market can be segmented on the basis of application and region. On the basis ofapplication, the global Neotame market can be segmented into agricultural and animal feed industry, pharmaceutical industry, cosmetics industry and majorly the food and beverage industry. Neotame is extensively used in the food and beverage industry and within the food and beverage bounds, the Neotame market can be further segmented into bakery, confectionary, flavoured candies and flavoured chewing gums. Neotame is finding its most use in the food and beverage industry due to its low cost and high metabolism while in other applications such as cosmetics and pharmaceutical is growing regularly as per the demand.
Global Neotame Market Regional Overview
The major states which leads the consumption of Neotame based products are North America and Europe while the Asia pacific and European regions are increasing their footing. Geographically, the global Neotame market is reasonably segmented with all the major economies governing the global Neotame market supply while the developing states such as India and China follow. It is expected that the emerging economies will increase their niche in the global Neotame market with their citizens accepting artificial flavouring in their food and gradually favouring its nutritional aspects.
Global Neotame Market Key Players
Some of the key players in the global Neotame market are: