Global Aspartic Acid Market

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: July, 2001
Pages: 157 | Tables: 92 | Figures: 76

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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FAQs

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).

aspartic acid market is fairly fragmented with the presence of many regional and players operating around the globe. The major players of the 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. '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'

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 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.

In the last few years, the continuously growing demand for sports nutrition products worldwide is propelling the 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 aspartic acid in the next coming years. Furthermore, increasing disposable income of consumers and rapid pace of urbanization is stroking the demand.

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.

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Global Aspartic Acid Market

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