Global Sales of Methionine Used in Animal Feed is Projected to Reach US$5.1 Billion by 2024

Rising Consumption of Meat and the Need to Enhance Efficiency of Meat Production Activity to Drive Growth in the Global Methionine Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Methionine market. Global sales of Methionine used in animal feed is projected to reach US$5.1 billion by 2024, driven by the sustained increase in meat consumption across the globe and growing prominence of methionine as a critical dietary supplement for poultry and livestock.

Methionine is an essential amino acid and is the basic building block in the formation of proteins. Methionine is mainly used in animal feeds to promote growth of poultry and livestock, shorten feeding cycle, and increase quantity of lean meat. Global methionine market is being driven by the sustained increase in consumption of meat as a major source of protein across the world, specifically in developing economies of Asia-Pacific and Latin America. Rapid population growth and rising affluence of people are fueling demand for meat and meat-based products in developing regions. Also driving meat consumption is the widespread availability of frozen meats and increased number of food outlets offering meat products. Led by the steady increase in meat demand across the globe, demand for animal feed additives is expected to grow, thus prompting growth in demand for methionine used in animal feeds. The ever-increasing trend in meat consumption has triggered a race among meat producers to produce more meat than their competitors in the marketplace, while simultaneously concentrating on larger, vertically-integrated systems. Furthermore, meat producers started focusing most of their efforts on maximizing the yield, thereby driving growth in the methionine market, in particular, and animal feed additives in general. This is largely because methionine and other animal feed additives are considered as crucial dietary supplements especially for poultry, livestock and also for fish.

The market outlook continues to be bright owing to its criticality as a dietary supplement for poultry and livestock. Besides increasing meat consumption, the need to maintain metabolism rate in livestock is also promoting increased use of animal feed additives such as methionine. With recent years witnessing several incidents of animal disease outbreaks, livestock producers are being compelled to use animal feed additives like methionine into their feed for enhancing its nutritional value. Growing awareness among consumers about the overall health and well-being of livestock is also fueling demand for methionine. The need for higher levels of food efficiency across the globe is also driving market growth, since methionine and other feed additives are widely used in assisting producers in addressing food needs of growing global population by improving farm economics.

As stated by the new market research report on Methionine, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 6.4% over the analysis period, led by sustained increase in meat consumption in countries such as India, China, Philippines and Vietnam. The growing investments in livestock farming infrastructure as a result of national level policy support to meet food security needs of the growing population bodes well for the consumption of methionine. China is expected to witness strong demand in the coming years, primarily driven by increasing demand for livestock and meat products in the nation.

Major players in the market include China National BlueStar (Group) Co Ltd., Adisseo France S.A.S., Evonik Industries AG, Jinzhou Jirong Amino Acid Co. Ltd., Ningxia Unisplendour Tianhua Methionine Co. Ltd., Novus International Inc., Sumitomo Chemical Co. Ltd., and Zheijiang NHU Co. Ltd.

The research report titled “Methionine: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil and Rest of Latin America).

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