Methionine Market Worth 4.45 Billion USD by 2022
PUNE, India, January 26, 2018 /PRNewswire/ --
The report "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) - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to grow from USD 3.36 Billion in 2017 to USD 4.45 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022. 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 strengthen nails. The growth of the Methionine Market can be attributed to the increasing health issues of consumers, growth in the consumption of animal-based products, and implementation of innovative animal husbandry practices to improve meat quality owing to the increasing demand for protein-rich food globally. These factors are leading to an increase in the demand for methionine globally.
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Browse 73 market data Tables and 29 Figures spread through 121 Pages and in-depth TOC on "Methionine Market"
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The animal feed application segment is projected to lead the Methionine Market during the forecast period.
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 animal feed application segment led the global Methionine Market in 2016, having accounted for the largest market share in the same year. This growth can be attributed to the increasing consumption of animal-based products, especially high meat consumption for the desired protein intake.
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DL-Methionine is the largest type segment of the Methionine Market.
Different types of methionine, such as L-Methionine, DL-Methionine, and MHA are used in various applications such as animal feed, food & dietary supplements, and pharmaceuticals. DL-Methionine is majorly used in various applications and this segment accounted for the largest share of 66.8% of the Methionine Market in 2016, owing to the reduced nitrogen excretions, support performance during heat stress, and excellent antioxidant capacity of DL-Methionine.
Asia-Pacific (APAC) is expected to be the largest market for methionine during the forecast period.
In terms of value, the APAC region accounted for the largest share of the Methionine Market in 2016. Animal feed production and consumption of animal-based products are high in this region due to the growing economy, high disposable income of consumers, and increasing population and standard of living. China and India are the key manufacturers of methionine due to its high demand for various applications, especially the animal feed. All these factors are fueling the demand for methionine in the APAC region.
Major players in the global Methionine Market 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).
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