Methionine Market Methionine Market by Type (L-Methionine, MHA, Dl-Methionine), Application (Animal Feed, Food & Dietary Supplements, Pharmaceuticals), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America)
Methionine is one of the essential amino acids, which is required for tissue repair and its growth, enhancement of pliability, the tone of hair and skin, and to strengthen nails. It is used in the production of various nutritional products such as infant milk, parenteral nutrition, health foods, and sports supplements. It is also recognized as the first limiting amino acid in poultry, high-yielding cows, and pigs’ feed. The methionine market size is projected to reach USD 4.45 billion by 2022, at a CAGR of 5.7% between 2017 and 2022. The rise in the consumption of animal-based products, increasing health issues, and implementation of innovative animal husbandry practices to improve meat quality, especially in the Asia Pacific region are driving the demand for methionine globally. However, negative perception about methionine is a major challenge faced by methionine manufacturers.
Download FREE PDF Sample Report at https://www.marketsandmarkets.com/pdfdownload.asp?id=67467529
Key companies profiled in this report are Evonik (Germany), Adisseo (France), Novus International (US), CJ CHEILJEDANG (South Korea), Sumitomo Chemical (Japan), AJINOMOTO (Japan), Phibro (US), Prinova Group (US), Sunrise Nutrachem (China), and Chongqing Unisplendour Chemical (China). The increasing utilization of methionine in food, animal feed, and the pharmaceutical industry, coupled with the improving standards of living of consumers in emerging regions have driven companies to adopt several business strategies to stay competitive in the global methionine market. Companies have adopted new product launches, expansions, agreements, joint ventures, and acquisitions as their key growth strategies.
Evonik (Germany), one of the largest methionine manufacturers in the world, has adopted expansions as its key strategy. For example, in November 2016, the company started the production of a methionine-based product called AQUAVI Met-Met in Antwerp (Belgium). This development has helped the company to increase its product portfolio and competitiveness, especially in the aquaculture feed industry.
Adisseo (France) has also adopted expansions as one of its key strategies to stay competitive in the methionine market. For example, in January 2017, the company increased the capacity of its Burgos (Spain) liquid methionine production site. This expansion is a result of the success of its product named Rhodimet AT88, which fueled the need for capacity expansion. This expansion has helped the company to cater the rising customer demand.
Methionine is an essential amino acid that contains sulfur and is obtained from various protein sources or prepared synthetically. This report estimates the size of the methionine market based on application, type, and region. The global methionine market is projected to reach USD 4.45 billion by 2022, at a CAGR of 5.7% between 2017 and 2022. The methionine market is primarily driven by the increasing demand for protein-rich food in both developing and developed countries. However, negative perception about methionine is a major challenge for market growth.
In terms of value, the APAC was the fastest growing market for methionine in 2016. Factors driving the methionine market in APAC include growth in regional population, the rise in disposable income of consumers, rapid urbanization, especially in China, India, and Japan, and continuous modernization, especially of the animal feed industry. Rapid industrialization and urbanization have resulted in an increase in the per capita income of the people of the region and the increase in the disposable income of consumers have led to the growth in demand for protein-rich food. In addition, there is a tremendous increase in the awareness about the quality and safety of animal-based products. All these factors are driving the methionine market in the APAC region.
Based on type, the L-Methionine was the fastest growing segment of the methionine market, in terms of value, in 2016. L-Methionine is an essential amino acid used to synthesize proteins in humans and animals. It is one of the major Sulphur-based proteinogenic amino acids other than cysteine. It does not synthesize naturally in the body and hence, must be consumed through food sources. The daily minimum requirement of L-Methionine for an adult is around 13 mg/kg of the body weight. Thus, these factors are driving the L-Methionine segment globally.
Based on application, the methionine market has been segmented into animal feed (poultry, swine, ruminants, and aquaculture), food & dietary supplements (nutraceutical & dietary supplements, infant formula, food fortification, and convenience food), and pharmaceuticals. In terms of value, the food & dietary supplements was the fastest growing application segment in 2016. This growth can be attributed to the high demand for methionine from the nutraceutical & dietary industry, as it provides nutritive benefits and enhanced flavors. Methionine also helps to reduce the risk of colorectal cancer, treats Parkinson’s symptoms, builds bone strength, and helps in treating liver diseases. These factors are driving the food & dietary supplements application segment globally.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/methionine-market-67467529.html
Source: www.abnewswire.com
