Amino Acids Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI3034
Amino Acids Market size may register a significant growth rate over the foreseeable time period. Increasing product usage in food and feed for better human health and enhancement of hormone production in livestock, may propel market growth. They are used in development of human muscles and proper functioning of nervous system, thus driving industry growth.
Amino acids are basic unit of protein and play an extensive role in all biological process. They are contained in living cells where they are used for protein synthesis. Moreover, they are used as supplements in food to increase human and animal productivity, thus stimulating industry growth.
Growing consumer preference towards bio-based products may foster amino acids market growth as plant based raw material are the major source of amino acids. Soybean, corn and wheat-based products are widely used in infant formula, food & beverage and nutraceutical industries owing to the rising preference for naturally derived products, thereby stimulating product demand.
Global food & beverage market was valued at over USD 5.5 trillion in 2017 and may surpass at higher gains in foreseeable timeframe. They are used either alone or in combination to enhance food flavor and act as antioxidant to preserve milk powder & fruit juices. Increasing usage of glutamic acid to enhance flavor and nutritional quality of processed foods including ready-to-eat meals & soups and snacks, may drive amino acids market size.
Global animal feed market may surpass USD 520 billion by 2024, owing to its increasing demand for meat products obtained from livestock, poultry animals and aquatic products. Shift in trend towards consumption of meat products, which is attributable to the need for protein rich food source may drive market growth. Amino acids are added in animal feed as they enhance milk performance independent of the production level, improves diary herd fertility and decreases metabolic disorders incidence.
Global pharmaceutical market was valued at over USD 1.2 trillion in 2017 and may surpass at higher gains by 2024. Pharmaceutical products make usage of amino acids which are synthesized using these products as starting materials. They are used in infusion solution, tablets and granular forms forming an essential part of modern medical treatment, which will further boost industry growth. These supplements are also advised as a precautionary measure to evade diseases like gastrointestinal disorders, cardiovascular disease, nervous system dysfunction and eye diseases, resulting in increased amino acids market demand.
Furthermore, ban executed on meat and bone meal mainly in Europe and shortage of plant-based raw material availability may create hinderance for market profitability. Rising prices of corn, wheat and soybean based raw materials along with tight supply of these raw materials may pose threat to industry growth and affect amino acids market price trend.
North America led by Canada and the U.S. amino acids market demand is poised to grow at significant growth rate over the predicted time frame. The U.S. food & beverage market was valued at over USD 15 billion in 2017. Growing consumer consciousness towards protein rich and low sugar food products may drive the product demand. Glycine and alanine are added to these food products which in turn enhance taste and flavor. Furthermore, aspartame which is almost 200 times sweeter than sucrose and is used as low-calorie artificial sweetener in soft drink products, thereby stimulating market demand.
Asia Pacific amino acids market demand, driven by China and India may project significant growth by the end of predicted timeframe. China meat consumption was valued at over 85 million tons in 2017 owing to increasing demand for meat products which include pork, poultry, beef, lamb and other meat. Alanine and glycine are major amino acids which are present in red meat. All essential amino acids present in red meat provide 28 gram of protein on a serving of 100 gram of red meat, thereby driving the product demand.
Global amino acids market share is fragmented and is considered to be competitive amongst the manufacturers. Key operators include ADM, Evonik AG, Cargill, Fufeng group and Sumitomo Chemical. With growing spending in technological processes such as microfiltration process for better yield of products may offer opportunities for industry players to expand their business in market.
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