As the third quarter of 2023 got underway, Aspartame's values steadily improved across the US market and are expected to drop again steadily throughout August 2023. Aspartame, one of the world's most widely used artificial sweeteners (low-calorie sweeteners), has been identified by the World Health Organization's most recent cancer research agency as a potential carcinogen. Researchers found that Aspartame is present in many sugar-free products, including some brands of ice cream, chewing gum, and some diet sodas and juices. These reports significantly impacted the supply activity of different artificial sweeteners in the global market, which led to a significant decline in prices in the final two months of the second quarter of 2023.

With a slight increase in domestic demand for diet sodas, cokes, and other foods and beverages that contain this low-calorie artificial sweetener, Aspartame prices in the United States and other regions gushed at a moderate level as Q3 finished. The claim made by the cancer research organization that it is safe to consume 40 milligrams of Aspartame per kilogram of body weight per day provided additional support for this. For instance, a 154-pound adult can consume more than nine to fourteen cans of diet soda per day to exceed the recommended daily intake. Also, due to this small price increase for Aspartame, suppliers and retailers now have the opportunity to get rid of their excess stockpiles. The classification of Aspartame (an artificial sweetener) as a potential carcinogen will not, however, lead to a decrease in the consumption of artificial sweeteners since other sweeteners may also be used to produce foods and beverages. These include Acesulfame-K, Sodium Cyclamate, Sodium Saccharin, Sucralose, Glucose Powder, Xylitol, D-Xylose, Erythritol, and Mannitol.

Additionally, market analysts claim that until the middle of Q3, prices of imported goods from China, one of the countries that export Aspartame to the United States, dropped significantly. Lessening imports from Chinese by the suppliers and traders into the US, rising fuel prices over the past month, and rising food prices, all contributed to this. Another element supporting the steady market trend of Aspartame was that domestic retailers had more than enough inventories to meet the overall regional demand across the United States easily. Aspartame prices began to decline steadily in early August, toward the middle of the third quarter, at the same rate they had been doing throughout July. This was once more aided by a decline in demand from the domestic market and the impact of currency appreciation, i.e., the Chinese Yuan continued to appreciate against the US dollar in the previous month, because of which the traders were extremely hesitant to place newer orders and were keenly focusing on reducing their surging stored inventories first. As a result, the warehouses already have weak to stable demand and higher stockpiled inventories.