Growing demand for pharmaceuticals and dietary supplements are expected to remain as the key aspartic acid market drivers over the forecast period. Aspartic acid is mostly used in L-alanine aspartame production and other pharmaceuticals uses. Other end-use applications include fertilizers, nutrition & animal feed supplements, organic chemicals, chemicals, cosmetics and synthetic resins. Aspartic acid end uses outside the food industry, such as production of fertilizers, bio-degradable polymers and cosmetics are rapidly increasing. The aspartic acid market is anticipated to be challenged by growing awareness of its harmful health effects.
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End products such as aspartame causes serious health issues such as Parkinsons’s, headaches, seizures and Alzheimer’s among others. Threat of substitutes coupled with pricing pressures and over supply is anticipated to negatively influence the global aspartic acid market. Unavailability and volatile raw material prices are further expected to hamper the global market growth. Technological advancements and innovative applications of aspartic acid such as specialty polymers, high intensity sweeteners, and cosmetics are expected to offer lucrative opportunities for the industry participants.
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North America promises rapid market growth opportunities owing to increasing demand for dietary supplements resulting from an aging population. Europe is expected to grow at a rapid pace owing to the growing demand for dietary supplements. Emerging economies such as China and India in Asia Pacific are presumed to witness significant growth over the next six years. Rising disposable income coupled with growing pharmaceutical industry and food supplement demand in the emerging economies offer promising regional opportunities to the industry participants. Prominent aspartic acid market participants include Holland Sweetener Company, Ajinomoto, Degussa, and DSM.
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