The global Aspartic Acid market worth US$ 174.16 Mn by 2032, growing at a CAGR of 5.1%
Growth of aspartic acid is fueled by increasing demand for the bakery products. Aspartic acid is mainly used as flour coating for bakery products and anticipates in increasing the global aspartic acid market. Easy availability of confectionary and bakery products boosts the demand for the global aspartic acid market. Global aspartic acid market trends is moving towards the consumption of beverages and is projected to positively impact the aspartic acid market growth during the forecast period.
Aspartic acid is used in medical science for curing the several human ailments. L-aspartate produces cellular energy for treating fatigue, depression and promoting the metabolism. Aspartate based medicines increases the molecules of nicotinamide adenine dinucleotide (NADH) and brain sharpening. Aspartic acid removes large amount of ammonia from liver & nervous system and improve body function.
The main factor responsible for the growth of aspartic acid market is increase in demand for sweeteners. The consumption of sweeteners is dependent on the producing sugar alternatives, diet carbonated soft drinks and low-calorie food. Demand for sweeteners is very strong in Asia Pacific because of the consumption of carbonated soft drinks. Using artificial sweeteners in bakery products are helping to increase the growth of global aspartic acid market in the coming years.
Increasing demand for meat is expected to be the main driving factors for the animal feed, leads towards the growth of global aspartic acid market. Fluctuations in the price and supply of raw materials are likely to affect the growth of aspartic acid market. Due to the volatility in supplying the raw materials related to weather conditions, increase their prices, because of which manufacturers are searching for economical raw materials. Applications of aspartic acid like derivatives of polyaspartate for industrial applications, water-soluble polymers polyaspartic acid (PAA) and produce biodegradable are anticipated to offer new opportunities for the growth of aspartic acid market. Companies like Royal DSM are suppliers for Donlar Corporation, uses L-aspartic acid as feedstock for the production of polyaspartic acid (PAA).
Global aspartic acid market is segmented into product, end-user and region. By product, aspartic acid market is divided into pharmaceutical grade and food grade. By application, market is divided into medical, feed and food.
Geographically, regions involved in the development of global aspartic acid market share are Europe (Eastern Europe, Germany, France, Spain, Italy, U.K and others), North America (Canada, Mexico and U.S), Asia Pacific (Australia, India, China, Japan and Others) and Latin America (Argentina, Brazil and others). North America driven by U.S and Canada are involved in increasing the aspartic acid market due to shifting the preference of customer from traditional consumption of sugar to artificial sweeteners in food & beverage industry. In Europe, aspartic acid market may witness substantial growth. Rise in the demand for food, health concerns about diseases like cancer and diabetes and increase in energy drink are driving the growth of global aspartic acid market. In Asia Pacific, aspartic acid market holds maximum share and can experience a stable growth of global aspartic acid market.
Key players focusing on the development of global aspartic acid size are DSM, Tocris Cookson, Evonik Industries, AJINOMOTO and Flexible Solutions International.
Key Segments in the “Global Aspartic Acid Market” are-
By Product market is segmented into:
- Pharmaceutical Grade
- Food Grade
By Application market is segmented into:
By Regions market is segmented into:
- Eastern Europe
- North America
- Asia Pacific
- Latin America
What to expect from the Global Aspartic Acid Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.