Frequently Asked Questions:
In 2022, the global neotame market was estimated to be worth USD 15.2 million.
The neotame market is estimated to increase at a CAGR of 7.50% between 2023 and 2030, reaching USD 25.2 million in 2030.
The food and beverage industry dominates the neotame market, accounting for over 75% of the market.
Carbonated soft drinks are the leading segment by application in 2022.
Fermented milk is the most important application category in the neotame market, with the highest CAGR.
Asia Pacific is fueling the growth of the neotame industry, with over one-third share in 2022.
The top players include Foodchem International Corporation, Fooding Group Limited, and NutraSweet Co.. Other major players include H & A Canada Inc., Wuhan HuaSweet Co., Ltd, and Jinan Chenghuishuangda Chemical Co.
The key market drivers are rising customer demand for low-calorie and sugar-free goods and increased demand for processed foods.
Strict restrictions, approval procedures, and health and safety concerns are the major market restraints.
Growing interest in functional foods and an increase in demand for natural and organic foods is the major opportunity in the neotame industry.