Global Aspartic Acid Market – High Demand from the Food and Beverage Industry to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#AsparticAcid–The latest market research report by Technavio
on the global
aspartic acid market predicts a CAGR of around 6% during the
period 2017-2021.

The report segments the global aspartic acid market by application
(polyaspartic acid, aspartame, feed supplements, medicines, and
l-alanine), and by geography (the Americas, EMEA, and APAC). It provides
a detailed illustration of the major factors influencing the market,
including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global aspartic acid market,
according to Technavio chemicals
and materials researchers:

• Rising consumption of baked products: a major market driver
• In 2016, the polyaspartic acid segment dominated the market by
  occupying almost 23% share
• The Americas dominated the global aspartic acid market with 42% share
  in 2016
• AJINOMOTO, DSM, Evonik Industries, Flexible Solutions International,
  and Tocris Cookson are the leading players in the market

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Rising consumption of baked products: a major market driver

Rising consumption of baked products is one of the major factors driving
the global aspartic
acid market. The increasing preference for convenience food is
expected to drive the consumption of baked products. Aspartic acid is
used as a flour coating in bakery products, and the demand is expected
to increase during the forecast period. The availability of baked
products and confectionary is increasing significantly in supermarkets.
The increase in the number of instore bakeries has reduced the price of
products and provides ease of shopping.

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Americas: largest aspartic acid market

Technavio researchers anticipate high growth for the global aspartic
acid market in the Americas due to the demand from the F&B and
health and nutrition industries in the Americas. The F&B industry in the
US accounts for a large share of the global F&B industry. The rising
demand for packaged and fresh food is expected to drive the demand for
aspartic acid by the F&B industry.

According to Hitesh Bhatia, a lead analyst at Technavio for research on specialty
chemicals, “The food packaging industry in the US is expected to
grow at a rate of 2.89% during the forecast period due to innovations in
packaging. Modified atmosphere packaging is one of the innovations,
wherein high levels of oxygen help in preserving the color of the meat.
The rising demand for packaged and fresh food is expected to drive the
demand for aspartic acid by the F&B industry.”

Competitive vendor landscape

The global aspartic acid market is moderately fragmented and includes
international players and small-scale industry participants regionally.
Key players include AJINOMOTO, DSM, Evonik Industries, Flexible
Solutions International, and Tocris Cookson. Manufacturers focus on
producing a variety of products to attract customers and increase market
shares. Many companies serve as backward integrated players as price
pressure impacts the market and increases competition.

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aspartic acid market report free of cost

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