Global Aspartic Acid Market Analysis and Forecast by 2023: Surging Demand from Chemical and Pharmaceutical Industries to Drive CAGR Growth 4.9%

Global Industry Analysis

Aspartic acid is an alpha amino acid due to its carboxylate anion and aspartate named after aspartic acid. When aspartate and glutamate combine, the result is known as an acidic amino acid. There are two types of aspartic acid enantiomers on the market: D-aspartic acid, which is rare in nature, and L-aspartic acid, which is directly incorporated into proteins.

Aspartic acid is a non-essential amino acid that is found in many proteins and is involved in the synthesis of other amino acids, such as methionine and threonine. It is commonly used as a flavor enhancer, in the production of food and beverage products, and as a nutritional supplement. The global aspartic acid market is projected to reach $186.1 million by 2023, growing at a CAGR of 4.9% from 2015 to 2023.

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The global market has been expanding significantly owing to the expansion of its end-user industry. The aspartic acid market is witnessing a dramatic growth owing to increasing meat consumption. However, L-aspartic acid, a form of aspartic acid, has been subject to price pressure because the sweetener market, one of the product's main uses, is highly competitive. As a result, US producer Solutia Inc. stopped producing L-aspartic acid at its plant in Missouri in December 2003, citing global overcapacity as the main reason for its withdrawal from the market.

Major manufacturers have entered into several collaborations and agreements with other companies for the marketing of new products and gaining a larger share in the market. Large companies such as Royal DSM, which stand in the challenging L-aspartic acid market, are using their production advantages to maintain their leading positions in the industry.

As competitive pressure intensifies, the company is touting its reliable supply of raw materials and experience in all applications of its products to grow its business.

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In addition, the company has maintained a high price of raw materials by virtue of its raw material advantages. The company's status as a lagging integrated player makes it relatively competitive at a time when pricing pressure is affecting the market. DSM also produces maleic anhydride, which is used in the production of fumaric acid, a key raw material for L-aspartic acid. 

Rising demand for meat is expected to be one of the major drivers for animal feed, thereby leading to the growth of the aspartic acid market. However, fluctuations in price and supply of raw materials are expected to slow down the growth of the market. Manufacturers are looking for more economical raw materials as prices of raw materials are soaring due to fluctuations in raw material supply as well as adverse weather conditions.

Promising applications such as production of biodegradable water-soluble specialty polymer polyaspartic acid (PAA) and polyaspartic acid derivatives for industrial applications are expected to provide new opportunities for market growth. Large companies such as Royal DSM are suppliers to Illinois-based Donlar Corporation, which has been using L-aspartic acid as a feedstock for its PAA production. 

Ajinomoto Co. Inc., Anaspec, Inc., ChemPep Inc., Iris Biotech GmbH, PepTech Corporation, and Royal DSM are some of the major manufacturers of aspartic acid dominating the market.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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