Aspartic Acid Market: Where is the Market Heading? What Does the Future Hold for Players?
Aspartic Acid also known as asparaginic acid is a non-essential amino acid in humans. Here, non essential implies human body can produce aspartic acid even if they don’t eat these amino acid contains food. Amino acids build blocks of proteins and help every cell of body to work. In addition, it plays an important role in hormone production and release and normal nervous system function. Aspartic acid is mostly found in animals and plants, especially in sugarcane and sugar beets. Aspartic acid can be produce through, protein extraction, enzymatic conversion, chemical synthesis and fermentation.
Growing demand for convenience food mainly bakery products in the economy has lead to increase demand for aspartic acid as a source for flour coating in bakery products. This demand is estimated to grow in the during the forecast period 2018-2026. The increasing supply of baked products for meeting its demand resulting in increasing significantly in the market, thus contributing in the growth of aspartic acid market. In addition, switching trend of consumers towards beverages consumption in worldwide is estimated to play an important role in the growth of the global aspartic acid market.
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On the basis of application the global aspartic acid market is segmented into categories such as polyaspartic acid, aspartame, feed supplements, medicines and l-alanine. It is anticipated that polyaspartic acid will lead the market in the forecast period. The major use of polyaspartic acid is in industrial applications such as petroleum exploration and water treatment etc. Aspartic acid is used in the manufacturing of artificial sweetner or a non-saccharide sweetener, known as aspartame. It has various applications in the food and beverages industry such as in producing beverages, fruit-based products, syrups, bakery products, and cereals among others. In addition, aspartic acid makes the human body able to resist fatigue, and aids in liver detoxification from drugs and chemicals. This advantage is projected to contribute a lot in the driving of the global market.
It is anticipated that North America market will lead the global aspartic acid market during the forecast period. Key driver of this region is the growing demand of packaged food and high use of sweeteners in the food and beverage industry. In the other hand, increasing health consciousness among the population of North America has lead in rising demand for sweeteners over traditional sugar, that further driving the market to produce aspartame. North America is followed by Europe aspartic acid market. Key driver that plays an important role in the growth of the market is raising demand of ready-to-eat food, and also the increasing demand of beverages in this region. Technology advancement in both North America and Europe is a major driver. Additionally, government support in North America and Europe region for shifting of manufacturing biodegradable products is expected to drive the market.
Key contributors of the global aspartic acid market are Royal DSM, Ajinomoto Co. Inc., Flexible Solutions Inc, Yantai Hengyuan Bioengineering Co. Ltd., Evonik Industries, Iris Biotech GmbH, Prinova Inc, Anaspec Inc., Nanjing Libang Chemical Co. Ltd., Kyowa Hakko Kogyo Co. And Changzhou Yabang Chemical Co. Ltd,. Some other market players are Changmao Biochemical Engineering Co. Ltd., Tocris Bioscience Co., Tokyo Chemical Industry Co. Ltd., Beijing FortuneStar S&T Development Co. Ltd., Dongying Leadbond Chemical Co., Langen Suzhou Co. Ltd., Taiyuan Qiaoyou Chemical and Anhui Huaheng Biotechnology Co.
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The global aspartic acid market has been segmented as follows:
Global Aspartic Acid Market, by Product Type
• Polyaspartic acid
• Feed supplements
Global Aspartic Acid Market, by Geography
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
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