Global aspartic acid market is is projected to grow at a CAGR of 6.04% during the forecast period (2020 - 2025).
- Aspartic acid is a type of amino acid commonly known as asparaginic acid. Aspartic acid primarily helps in the release and production of hormones and also, in the functioning of the nervous system.
- 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, which is driving the aspartic acid market.
Key Market Trends
Growing Demand for Sports Nutrition Products
Aspartic acid is used in various sports nutrional products. Moreover, the growing demand for various kinds of protein bars, energy drinks anddietary supplements among bodybuilders and athletes is one of the key factors stoking the growth of the aspartic acid market. Rising disposable income and rapid pace of urbanization have also been propelling the market. Furthermore, in recent years, the adoption of these products has increased among recreational and lifestyle users owing to increased health awareness. These products are distributed through various retail channels such as large retail & mass merchandizers, small retail, drug & specialty stores, and various online retailers. In addition, they are distributed through fitness institutions such as gyms and health clubs.
North America Holds a Significant Share in Global Aspartic Acid Market
North America is expected to record a siginificant growth for the global aspartic acid market owing to the rising demand from the food and beverage, health and nutrition industries in the American market. The rising demand for packaged and fresh food is expected to drive the demand for aspartic acid the North America. Asia-Pacific lead by China, India and Japan aspartic acid market accounts for maximum share and is assumed to witness steady growth. In the European market, bakery products such as biscuits, cakes, breads and others are considered as the staple foods, this in turn is increasing the usage of the aspartic acid as a sweetener additive in these products.
Key players are focusing on market penetration in developing economies which is increasing competition among international and local platers. Some of the major key players in the aspartic acid market, globally includes AJINOMOTO CO.,INC., Evonik Industries AG, Prinova Group LLC., Iris Biotech GmbH, AnaSpec, Inc., amo ng others.
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