Aspartic Acid Market Growth & Trends
The global aspartic acid market size is expected to reach USD 168.0 million by 2030, registering to grow at a CAGR of 6.7% from 2024 to 2030 . Increasing aspartame demand in the form of artificial sweetener from the food & beverages industry is expected to remain a key driving factor for the global market. A shift in trend towards convenience food & beverage consumption globally is also expected to have a positive influence on market growth over the forecast period. The 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 the 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.
Aspartic Acid Market Report Highlights
- Global aspartic acid market demand was USD 107.7 million in 2023 and is expected to reach 168.0 million by 2030, growing at a CAGR of 6.7% from 2024 to 2030.
- North America emerged as the largest regional market and accounted for 41.25% of total market volume in 2023. The 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 from 2024 to 2030. 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 a 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. Lt
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Aspartic Acid Market Variables, Trends, & Scope
Chapter 4. Aspartic Acid Market: Product Estimates & Trend Analysis
Chapter 5. Aspartic Acid Market: Application Estimates & Trend Analysis
Chapter 6. Aspartic Acid Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- Evonik Industries AG
- Prinova Group LLC.
- Iris Biotech GmbH
- AnaSpec, Inc.
- ChemPep Inc.
- KYOWA HAKKO BIO CO.,LTD.
- Tocris Bioscience
- Flexible Solutions Inc
- Yantai Hengyuan Bioengineering Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 107.7 Million |
| Forecasted Market Value ( USD | $ 168 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
