The Global Market for Amino Acids is Projected to Exceed US$29 Billion by 2024
Healthy Market for Meat and
Nutraceuticals Drive the Global Amino Acids 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 Amino Acids market. The global market
for Amino Acids is projected to exceed US$29 billion by 2024, driven by sustained demand
for amino acids in nutraceuticals and increasing demand for animal feed
additives driven by growing meat consumption.
Amino
acids are the building blocks of human body. An amino acid is an organic
molecule that forms the framework for proteins. Of late, amino acids have
gained widespread popularity as nutritional supplements for humans. Animal feeds market is the principal contributor to the growing
worldwide demand for amino acids. Health foods and dietary
supplement products are becoming the norm amongst a wide section of the
worldwide population and increasing popularity of health foods is expected to
substantially add to the rising demand for amino acids. With growing understanding of the wide-ranging functions of amino acids,
commercial interest is expected to surge going forward. While usage in existing
areas would continue to expand, application in new areas would offer immense
opportunities for the growth in the market. Advancements in production
technology would offer additional impetus, as large scale production of various
amino acids in an economical manner would spur widespread application.
Consumption
of meat and nutraceuticals are witnessing healthy growth worldwide. The
increasing acceptance of meat as a major source of protein, as well as the
increasing intake of nutraceuticals for a healthy lifestyle are driving demand
for both feed grade and food grade amino acids across the world. Increasing
meat consumption, coupled with increasing costs of animal feeds is driving feed
suppliers to include amino acids in feeds owing to their beneficial properties.
Additionally, environmental concerns from animal emissions are also driving
feed suppliers to include amino acids in feed. On the other hand, healthy
lifestyle of consumers is leading to increasing usage of nutraceuticals in
their daily diet, leading to demand for amino acids. Food processing, one of
the major consumers of amino acids, is witnessing rapid growth, especially in
developing markets, leading to steady demand for amino acids.
Animal
feeds market is the principal contributor to the growing worldwide demand for
amino acids. Glutamic acid represents the largest segment, while lysine is expected to emerge as the
fastest growing segment, riding on increased utilization in poultry and swine
diets. Methionine is also a major contributor to
global amino acid market, with demand mainly arising from poultry products, as
well as select applications in the cattle market. Phenylalanine, glutamic acid,
threonine, and tryptophan are the other major amino acids that are widely used in
various commercial end-use applications.
As
stated by the new market research report on amino acids Asia-Pacific represents
the largest market worldwide, supported by a large animal feed market. The
region also ranks as the fastest growing
market with a CAGR of 5.3% over the analysis period, led by the rising
wave of health consciousness among the affluent base of middle class population
and the ensuing opening up of opportunities in the health supplements and nutraceuticals
market; growing pressure on livestock farmers to reduce use of antibiotics in
animal feed and the resulting increase in interest n amino acids as a potential
dietary replacement; and migration of agricultural practices to organic methods
and the resulting use of amino acids as an organic and natural plant growth
promotant.
Key
players in the market include Ajinomoto Co. Inc., Amino GmbH, Anhui BBCA
Biochemical Co. Ltd., Archer Daniels Midland Company, Cargill Inc., China
National BlueStar (Group) Co. Ltd., CJ Cheil Jedang, DAESANG Corporation,
Evonik Industries AG, Fufeng Group Company Limited, Global Bio-Chem Technology
Group Company Limited, Kyowa Hakko Bio Co. Ltd., Ningxia Eppen Biotech Co.
Ltd., Novus International Inc., Royal DSM N.V., Shandong Shouguang Juneng Group
Golden Corn Co. Ltd., Sekisui Medical Co. Ltd., Shijiazhuang Jirong
Pharmaceutical Co. Ltd., and
Sumitomo Chemical Co. Ltd. among others.
The research report titled "Amino Acids: A Global Strategic Business Report"
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, growth drivers, innovations and launches, and strategic industry
activities of major companies worldwide. The report provides market estimates
and projections in US dollars for all major geographic markets including the
US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest
of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East &
Africa, and Latin America (Brazil, and Rest of Latin America). Product segments
analyzed in the report include Glutamic Acid, Lysine, Methionine,
Phenylalanine, Threonine, and Others.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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