But for Coca-Cola, whose low-calorie products accounted for a third of its total volumes sold in 2022, analysts said switching to a natural sweetener could be easier than many other companies that use aspartame.
In the past, beverage makers like Coca-Cola and PepsiCo have tweaked their ingredient composition to comply with evolving policy changes. Market Analyst Grzegorz Drozdz at investment firm Conotoxia Ltd said the shift from aspartame could hit the short-term profitability of Coca-Cola, but does not see a steep decline in its long-term growth due to its production history.
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