Aspartic Acid Market Analysis
Aspartic acid is a type of amino acid, which is commonly used in the medical, cosmetics, agriculture, dietary supplement, and food & beverages industries. The human body produces aspartic acid, which works against sweating and purifying liver. The acid produces various hormones in the human body and also supports the functioning of nervous system. It also helps in digestion; and utilizes calcium, potassium, & magnesium. It is commonly found in oat flakes, asparagus, oysters, and sausage.
Moreover, aspartic acid is used in the production of sweetener, which is known as aspartame. Aspartame is used in various bakery products, beverages, cereals, fruit-based products, and syrups.
COVID–19 scenario analysis
The coronavirus pandemic has a deep impact on the food & beverages industry. The pandemic has made the population to stay indoors, thereby increasing the home-made food eating habits. Therefore, this has reduced the demand for processed food drastically. Moreover, the lockdown has forced governments to shut down all the food outlets other institutions that promote public gathering such as gym, shopping malls, and others. This is expected to reduce the demand for aspartic acid over the forecast period. However, the use of aspartic acid in the pharmaceutical industry may boost the market growth even during this time of crisis.
Market scenario analysis
The rapid development of the pharmaceutical industry is a major factor that accelerates the market growth. Aspartic acid is widely used in the healthcare sector to cure various human ailments. Research proves that increased aspartic acid-based medicines keep the brain sharper, reduce depression, and promote robust metabolism. Moreover, increase in consumption of meat coupled with rise in demand for confectionery products is further expected to boost the market growth. Aspartic acid is also used to manufacture bio degradable polyaspartic acid, which is soluble in water. Polyaspartic acid is widely used in waste water treatment and also has the ability to replace various non-biodegradable amino acids. In addition, investment in research activities to develop aspartic acid directly through fermentation using sugar substrates to increase its cost-competitiveness over conventional manufacturing process is expected to further propel the market growth. However, complex manufacturing process and increase in raw material cost are expected to hinder the global aspartic acid market growth over the forecast period.
One of the major trends observed is the use of aspartic acid in various sports nutritional products. The rise in demand for various kinds of protein bars, energy drinks, and other supplements among bodybuilders and athletes is expected to propel the aspartic acid market growth. In addition, increase in urbanization leads to increase in disposable income, which is also expected to boost the market growth. Moreover, increased health awareness has raised the consumption of various dietary supplements across various countries. These products are distributed through various retailers, wholesalers, and health institutions such as gyms and fitness clubs.
North America is the market leader of the global aspartic acid market, and is predicted to continue its dominance during the forecast period. Increase in demand for processed food is expected to boost the aspartic acid market growth in this region. Europe holds the second largest market for aspartic acid, and is expected to witness steady growth due to rise in demand for food & beverages in the region. The Asia-Pacific aspartic acid market is also growing due to rise in population and increased adoption of packaged food. Additionally, increased disposable income is also expected to boost the market growth in the region.
Key benefits of the report:
- This study presents the analytical depiction of the aspartic acid market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aspartic acid market share.
- The current market is quantitatively analyzed to highlight the aspartic acid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the aspartic acid market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Aspartic Acid Market Report Highlights
By End Use
Key Market Players
KYOWA, Jinghai, Tianjin Tianan Pharmaceuticals, AnaSpec, Inc., Amino Acid, PepTech Corporation, Siwei Amino Acid, JIRONG PHARM, Evonik, Ajinomoto Group, Hubei Bafeng Pharmaceutical