Product ID: SQSG15E2049
Global Aspartic Acid Market Size, Share, Growth Analysis, By Application(Polyaspartic Acid, Aspartame), By End-Use(Food & Beverage, Bakery), By Form(L-Aspartic Acid, D-Aspartic Acid) - Industry Forecast 2024-2031
Report ID:
SQSG15E2049 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Global Aspartic Acid Market Insights
Global Aspartic Acid Market size was valued at USD 93.15 million in 2019 and is poised to grow from USD 98.87 million in 2023 to USD 146.21 million by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).
The continuously growing demand for biodegradable products because of the depleting fossil fuel reserves across the world is expected to be the key factor driving the global aspartic market over the forecast period. Aspartic acid is highly used in the manufacturing polyaspartic acid, which is a major component for several types of applications including water treatment systems, petroleum exploitation, detergents, and agriculture as well. Thereby, increasing demand for polyaspartic acid from several industries, is likely to fuel the demand and growth of aspartic acid in the coming years.
Furthermore, high usage of aspartic acid in the production of non-saccharide sweetener, which is also known as aspartame is anticipated to have a positive influence on the global demand for aspartic acid during the forecast period. Aspartame is largely used in syrups, bakery products, beverages, and many other applications. With a shifting consumer preference towards packaged food & beverage segment in the last few years is anticipated to boost the demand for aspartame and in turn, aspartic acid demand grow at a significant rate.
US Aspartic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Aspartic Acid Market Segmental Analysis
Aspartic Acid Market is segmented on the basis of application, end-use, form, and region. By application, the aspartic acid market is segmented into polyaspartic acid, aspartame, feed supplements, and others. By end-use, the aspartic acid market is categorized into food & beverage, bakery, confectioneries, pharmaceuticals, and others. By form, the Aspartic Acid Market is bifurcated into L-aspartic acid and D-aspartic acid. By region, the Aspartic Acid Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Aspartic Acid Market Analysis by Application
By application, the polyaspartic acid segment dominated the market and accounted for a healthy market share in 2021. Wide usage of polyaspartic acid and its derivatives in several industrial applications along with the characteristics such as high dispersion and scale inhibition properties are the key major factors driving the segment growth. Furthermore, growing adoption of highly advanced technology coupled with the rising number if innovations to improve the quality and features across the world are projected to fuel the growth of the segment in the coming years.
Moreover, aspartame is expected to be the fastest growing segment during the forecast period owing to rising consumption of packaged foods and carbonated soft drinks mainly in emerging economies such as India and China. In addition, development of technology to produce more attractive and healthier food products worldwide is also anticipated to impact the segment growth positively.
Aspartic Acid Market Analysis by End-Use
By end-use, the food & beverage segment held the largest market share in 2021, and is expected to maintain its dominance throughout the forecast period. The growing use of sweetener and continuously rising demand for packaged food due to the busy lifestyle and increased consumer disposable income globally are projected to drive the growth of the segment during the forecast period. Moreover, shifting consumer preferences towards sweeteners due to rising health awareness and popularity of sweetener around the world is likely to be another major driving factor for the growth of the market in the coming years.
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Global Aspartic Acid Market Regional Insights
Globally, North America dominated the aspartic acid market in 2021 with a holding of significant market share and is set to continue its dominance during the forecast period. Rising popularity of ready to eat and ready to drink products because of the hectic lifestyle, high income, and easy availability of these products are the major factors driving the growth of the market in the region. Furthermore, presence of key market players in the region such as ChemPep Inc., Peptech Biosciences Ltd., and Tocris Bioscience and early adoption of advanced technology are few factors projected to drive the market growth in the coming years.
Furthermore, Asia Pacific is expected to witness fastest CAGR during the forecast period owing to the growing urbanization, industrialization, and changing consumer interests towards sweeteners and beverages in the region. In addition, increasing investments by various international players for the development of manufacturing facilities in the countries such as India and China are further anticipated to boost the demand for aspartic acid market in the near future.
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Global Aspartic Acid Market Dynamics
Aspartic Acid Market Drivers
- Growing demand for dietary supplements around the world due to rising awareness of several benefits of dietary supplements and increasing acceptance of these products as a daily need among consumers is the major factor projected to drive the growth of the global aspartic acid market during the coming years. Aspartic acid is highly utilized in dietary supplements because it helps in increasing muscle mass and testosterone levels in men and women as well. In addition, growing population is another factor which is likely to propel the demand for dietary supplements and in turn, aspartic acid demand is also increasing at a significant rate.
Aspartic Acid Market Restraint
- Stringent government rules and regulations for the usage of aspartic acid in various applications including food & beverage industry is likely to be a major restraint to the growth of the global aspartic acid market over the forecast period. In addition, high cost of raw materials used in the production of aspartic acid like fumaric acid is also projected to hamper the market growth in the near future.
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Global Aspartic Acid Market Competitive Landscape
Global aspartic acid market is fairly fragmented with the presence of many regional and global players operating around the globe. The major players of the global market are implementing on several business strategies including acquisition, partnerships, research & development activities, and new product launches for the expansion of their geographical presence, product portfolio, and strengthen their market position.
Aspartic Acid Market Top Player’s Company Profiles
- Microsoft
- SAP SE
- Oracle
- IBM Corporation
- MasterControl Inc.
- Sparta Systems Inc.
- IQMS Inc.
- Siemens AG
- Dassault Systèmes
- Plex Systems Inc.
- Aras Corporation
- Arena Solutions Inc.
- Pilgrim Quality Solutions Inc.
- ETQ Management Consultants Inc.
- MetricStream Inc.
- AssurX Inc.
- Intelex Technologies Inc.
- SAP SE
- Qualsys Ltd.
- QUMAS
Aspartic Acid Market Recent Developments
- In June 2022, Evonik Industries announced partnership with an agribusiness innovation hub named AgTech Garage in Sao Paolo, Brazil. This partnership expands Evonik’s agribusiness capabilities and help to improve its innovations in the area with the help of better connection to the regional agribusiness ecosystem.
- In September 2022, Ajinomoto Corporation Inc., announced its new collaboration with JSR Corporation, a leading materials provider company for the development and expansion of its biopharmaceuticals culture media business, with the help of new and improved high-performance media developed by JSR’s.
Global Aspartic Acid Key Market Trends
- In the last few years, the continuously growing demand for sports nutrition products worldwide is propelling the global demand for aspartic acid. Increasing prevalence of protein powders, energy drinks, and health supplements among bodybuilders, fitness freaks, and athletes is one of the key factors fueling the growth of the market of the global aspartic acid in the next coming years. Furthermore, increasing disposable income of consumers and rapid pace of urbanization is stroking the global demand.
Global Aspartic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, global aspartic acid market is expecting a significant growth during the forecast period owing to the rapid growth in the advancement of technology, rising number of bodybuilders, and extensive growth in food & beverage industry and medicine industry. In addition, increasing per capita income of global population and change in their way of living, they are getting more attractive towards packed food and drinks, which is likely to boost the demand for aspartic acid in the next coming years. However, volatility in the prices of raw materials and fluctuation in the availability is anticipated to hinder the global market growth in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 93.15 million |
| Market size value in 2031 | USD 146.21 million |
| Growth Rate | 6.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aspartic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aspartic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aspartic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aspartic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aspartic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aspartic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aspartic Acid Market Report Snapshots
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