San Francisco, 13
November 2018: The Global Aspartic Acid Market
is expected to reach USD 101.0 million by 2022, according to a new study by
Grand View Research, Inc. Increasing aspartame demand in the form of artificial
sweetener from food & beverages industry is expected to remain a key
driving factor for the global market. Shift in trend towards convenience food
& beverage consumption globally is also expected to have a positive
influence on the market growth over the forecast period. 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 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.
Access Research Report
of Aspartic Acid Market@ www.grandviewresearch.com/industry-analysis/aspartic-acid-market
Further
key findings from the study suggest:
· Global aspartic acid market demand was 39.3
kilo tons in 2014 and is expected to reach 60.6 kilo tons by 2022, growing at a
CAGR of 5.6% from 2015 to 2022.
· North America emerged as the largest
regional market and accounted for 39.0% of total market volume in 2014.
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 rate of 7.3% from 2015 to 2022. 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 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. Ltd.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-chemicals
For the purpose of this
study, Grand View Research has segmented the aspartic acid market on the basis
of application and region:
Global Aspartic Acid Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2012 - 2022)
·
Feed Supplements
·
Medicine
·
Polyaspartic Acid
·
Aspartame
·
L-Alanine
·
Others
Global Aspartic Acid Regional Outlook (Volume Kilo Tons;
Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Aspartic Acid Market@ www.grandviewresearch.com/press-release/global-aspartic-acid-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
No comments:
Post a Comment