The Global Aspartic Acid Market is expected to reach USD
101.0 million by 2022, according to a new study by Grand View Research, Inc.
Increasing aspartame demand in the form of artificial sweetener from food &
beverages industry is expected to remain a key driving factor for the global
market. Shift in trend towards convenience food & beverage consumption
globally is also expected to have a positive influence on the market growth
over the forecast period. High cost of major raw materials such as fumaric acid
is expected to remain a key challenge for market participants.
Polyaspartic acid was the largest application
segment and accounted for 22.6% of total market volume in 2014. Increasing
demand for polyaspartic acid in the form of biodegradable polymer for replacing
polyacrylic acid from major end-use industries such as agriculture, water
treatment systems and petrochemical industry is expected to drive this segment.
Polyaspartic acid was closely followed by aspartame which emerged as the second
largest application segment for aspartic acid. Medical is expected to witness
the highest growth of 6.2% from 2015 to 2022.
For full research report on Aspartic
Acid Market visit here:
https://www.grandviewresearch.com/industry-analysis/aspartic-acid-market
Further key
findings from the study suggest:
- Global aspartic acid market demand was 39.3
kilo tons in 2014 and is expected to reach 60.6 kilo tons by 2022, growing
at a CAGR of 5.6% from 2015 to 2022.
- North America emerged as the largest regional
market and accounted for 39.0% of total market volume in 2014. Presence of
sophisticated healthcare infrastructure in the U.S. coupled with
increasing artificial sweetener on account of growing consumer awareness
is expected to drive the regional market over the forecast period.
- Asia Pacific is anticipated to register the
highest growth rate of 7.3% from 2015 to 2022. China was the leading
aspartic acid consumer in Asia Pacific. Increasing sweeteners demand from
carbonated beverages particularly in India and China is expected to drive
the regional market over the forecast period.
- The global aspartic acid market is highly
fragmented with large number of small companies dominating the market.
However, there is a presence of some large multinational corporations.
Some of the major companies operating in the global market include
Ajinomoto Co. Inc, Royal DSM, Flexible Solutions Inc., Iris Biotech GmbH,
Prinova Inc Evonik Industries, Anaspec Inc, Changzhou Yabang Chemical Co.
Ltd , Yantai Hengyuan Bioengineering Co. Ltd., Kyowa Hakko Kogyo Co and
Nanjing Libang Chemical Co. Ltd.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/aspartic-acid-market/request/rs1
For
the purpose of this study, Grand View Research has segmented the aspartic acid
market on the basis of application and region:
Global
Aspartic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2022)
- Feed Supplements
- Medicine
- Polyaspartic Acid
- Aspartame
- L-Alanine
- Others
Global
Aspartic Acid Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 -
2022)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- India
- Central & South
America
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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