A liquid raw material for a carbonated beverage, characterized in that it uses aspartame as a sweetener and comprises an emulsifier having an HLB value of 1 to 14 and/or an emulsifier having a molecular weight of 50 to 300. The raw material allows the solution of problems of a carbonated beverage using aspartame as a sweetener caused by the foaming due to aspartame with no adverse effect on the function of the resulting product and on safety with satisfactory durability.