Aspartic Acid Market Set to Soar Past USD 146.21 Million by 2030
The global Aspartic Acid market size is expected to reach USD 146.21 million by 2030 and exhibit a CAGR of 6.2% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for aspartic acid as a food additive, growing use of aspartic acid in the production of biodegradable polymers, rising adoption of aspartic acid in the cosmetics and personal care industry, growing awareness about the health benefits of aspartic acid, rising consumer preference for natural and organic products, are fueling the market’s growth.
Westford USA, Aug. 28, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Aspartic Acid market, growing demand for plant-based and vegan-friendly aspartic acid products, increasing focus on sustainability and eco-friendly production processes, the rising popularity of aspartic acid in sports nutrition and energy drinks, expanding applications of aspartic acid in the agriculture and horticulture sectors, surging demand for clean label ingredients and natural sweeteners, emerging markets in developing economies are the trends that aid in the market’s growth.
Browse in-depth TOC on “Aspartic Acid Market”
- Pages – 157
- Tables – 92
- Figures – 74
Aspartic acid is a non-essential amino acid that is used to make proteins. It is also used in the body to make energy and to help regulate the pH of the blood. Aspartic acid is found in many foods, including meat, poultry, fish, dairy products, and beans.
Prominent Players in Aspartic Acid Market
- Ajinomoto
- Kyowa Hakko Kirin
- Sumitomo Chemical
- Evonik Industries
- CJ CheilJedang
- Fufeng Group
- Meihua Group
- Hebei Huayang Chemical
- Shandong Wuyi Sino Biomaterials
- Tianjin Bohai Biochem
- Huaxing Biological Engineering
- Sichuan Tongsheng Amino Acid
- Anhui Jinhai Amino Acid
- Shandong Hualu Biological Engineering
- Jiangsu Guoxin Bioengineering
- Zhangjiagang Fortune Amino Acid
- Hebei Donghua Jinlong Biological Engineering
- Jiangsu Huasheng Amino Acid
- Shandong Qingdao Bioengineering
- Adisseo
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Packaged Foods Demand to Grow Substantially in the Forecast Period
Plant-based aspartic acid dominated the global market due to the high natural and plant-based demand. It is also often perceived as healthier and more sustainable than synthetic alternatives. Aspartic acid sourced from plants meets the growing consumer demand for clean-label ingredients and sustainable production practices.
Food and Beverage are the Leading Application Segment
In terms of application, the food and beverage segment is the leading segment due to the demand for low-calorie sweeteners. In addition, aspartic acid finds applications in a diverse range of food products, including bakery and confectionery items, beverages, dairy products, and snacks. Its versatility and ability to enhance taste, flavour, and texture make it a valuable ingredient for food manufacturers. It is used in soft drinks, desserts, chewing gum, jams, and jellies.
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North America is the leading Market Due to the Established Food and Beverage Industry
Region-wise, North America is one of the largest growing markets with a huge emphasis on the food and beverage industry. The region has a significant population of health-conscious consumers actively seeking healthier alternatives. Aspartic acid’s use as a low-calorie sweetener aligns with the demand for reduced sugar and more nutritious food and beverage options, driving its adoption in the region. The U.S. Department of Agriculture (USDA) has launched a new initiative called the “Aspartic Acid for a Sustainable Future” project. This project aims to promote the use of aspartic acid in sustainable products and processes. The USDA is funding this project through the National Institute of Food and Agriculture (NIFA).
A recent report thoroughly analyzes the major players operating within the Aspartic Acid market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Aspartic Acid.
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Key Developments in Aspartic Acid Market
- Evonik Industries announced partnership with an agribusiness innovation hub named AgTech Garage in Sao Paolo, Brazil. This partnership expands Evonik’s agribusiness capabilities and help to improve its innovations in the area with the help of better connection to the regional agribusiness ecosystem.
Key Questions Answered in Aspartic Acid Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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