Overview of the global aspartic acid market
The rising focus towards the production of low-calorie food, diet carbonated soft drinks, and sugar substitutes has resulted in an increased consumption of high-intensity sweeteners. The high consumption of carbonated soft drinks in regions such as APAC is driving the demand for the entire range of high-intensity sweeteners. Technavio’s market research analysis has identified this increasing demand for sweeteners as one of the primary growth drivers for the global aspartic acid market till 2021. The demand for high-intensity sweeteners (HIS) such as aspartame is increasing in various products such as diet soft drinks, sugar-free jam, and low-calorie yogurt. This growing demand for aspartame from the food and beverages industry will subsequently boost the growth of the aspartic acid market. Our market research analysts have predicted that by volume, the aspartic acid industry will grow at a CAGR of close to 6% by 2021.
Bio based-platform chemicals derived from fossil fuel resources consist of 2-6 carbons. They are used in the production of a wide variety of chemicals and materials such as pharmaceutical products, perfumes, solvents, fuels, and polymers as precursors. The market for bio-based platform chemicals is witnessing considerable growth due to the rising demand for these chemicals from the automotive, building and construction, and tire industries. With the C4 category of bio-based platform chemicals consisting of chemicals such as, this increasing use of bio-based platform chemicals will drive the growth of the aspartic acid manufacturers in the coming years.
Competitive landscape and key vendors
The aspartic acid market appears to be moderately fragmented due to the presence of both international players and small-scale industry participants. Vendors in this aspartic acid industry are increasingly focusing on improving their market positions and attracting customers by producing a variety of products. Since the new aspartic acid manufacturers are focusing on product innovations to establish themselves, the market’s competitive environment will intensify in the coming years.
Key vendors in this market are -
- AJINOMOTO
- DSM
- Evonik Industries
- Flexible Solutions International
- Tocris Cookson
Other prominent vendors in the market include AnaSpec, Anhui Huaheng Biotechnology, Beijing FortuneStar S&T Development, Changmao Biochemical Engineering Company Limited, Changzhou Yabang Chemical, ChemPep, IRIS BIOTECH, KYOWA HAKKO BIO, Langen Suzhou, Nanjing Libang Chemical, Prinova, Taiyuan Qiaoyou Chemical Industrial, Tokyo Chemical Industry, and Yantai Hengyuan Bioengineering.
Segmentation by application and analysis of the aspartic acid market
- Polyaspartic acid
- Aspartame
- Feed supplements
- Medicines
- L-alanine
Polyaspartic acid (PAA) is biodegradable and is replacing the application of nonbiodegradable polymers. The consumption of PAA will increase in the coming years since it is increasingly used in numerous applications such as disposable diapers, soil for agriculture and horticulture, gel actuators, sanitary napkins, water-blocking tapes, absorbent pads, drug delivery systems. This in turn, will positively influence the growth of the aspartic acid market in this segment.
Segmentation by geography and analysis of the aspartic acid market
- Americas
- APAC
- EMEA
The US is the major contributor to the growth of the aspartic acid market in the Americas. Owing to the rising demand for aspartic acid in various industries such as the health and nutrition and food and beverages, the aspartic acid industry will witness considerable growth in this region during the next few years. Moreover, the growth of the healthcare industry in North America will also boost the demand for aspartic acid in the region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global aspartic acid market?
- What are the key market trends impacting the growth of the global aspartic acid market?
- What are the challenges to market growth?
- Who are the key vendors in the global aspartic acid market?
- What are the market opportunities and threats faced by the vendors in the global aspartic acid market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global aspartic acid market?
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