The amino acids market is predicted to be worth US$ 27.5 billion in 2023 and US$ 63.4 billion by 2033. Over the course of the forecast period, it is anticipated to grow at a CAGR of 8.7%. Higher consumer buying power and growing awareness of healthy lifestyles and preventative healthcare are the main drivers of market expansion. Amino acids are utilized in health supplements to alleviate muscle pain, reduce fatigue, and mitigate cardiovascular disease risks. Additionally, they are gaining popularity as nutritional sports supplements, with athletes opting for amino acid-based products like tablets, powders, and drinks to support muscle growth.
The demand for amino acids is further expected to rise due to manufacturers’ initiatives like product launches, expansions, and investments. The increasing demand for amino acids in industries such as food & beverages, cosmetics, dietary supplements, and pharmaceuticals, driven by their various health benefits, presents a great opportunity for market growth. With growing consumer awareness of these benefits, manufacturers are launching new products, expanding their facilities, and making investments to cater to the diverse needs of different end-users.
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The health benefits of amino acids are expected to drive increased demand for amino acids in various nutraceuticals and dietary supplements throughout the forecast period. Increasing consumer awareness of health and the demand for nutritious food have prompted food & beverage manufacturers to incorporate essential nutrients like amino acids into their products. This has led to a rise in customer demand for amino acids. Protein-rich diets, particularly favored by bodybuilders and athletes aiming to enhance performance and build muscle, contribute to market growth. Sports supplements such as energy drinks, nutrition bars, low-carb diets, and nutritional supplements further contribute to the market’s expansion.
The pet food industry has experienced rapid expansion, fueled by the rising popularity of household pets such as dogs, cats, fish, and birds. With an expected increase in pet ownership over the next four years, there is significant potential for businesses catering to pet-related products. The growing adoption of pets across various countries is projected to drive the demand for pet food and amino acids used in pet food, medicine, and veterinary supplements. The increasing consumption of sodium amino acids in this sector is anticipated to further propel market growth.
Key Takeaways
- The market in Asia Pacific is projected to grow with a promising CAGR of 9.6% during the forecast period.
- European market is expected to grow with a CAGR of 8.6% during the forecast period.
- By application, food and dietary supplements are expected to generate amino acid demand with a CAGR of 9.4% during the forecast period.
- By product, L-glutamate segment is expected to generate demand with a CAGR of 8.8% during the forecast period.
“Increasing consumer spending on healthcare products and increasing demand for nutrient rich pet food products from pet food industry is expected to drive market growth,” comments an FMI analyst.
Competitive Landscape
The market for amino acids is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities. Some recent developments in the amino acids market are:
- In May 2022, Abbott announced the release of limited quantities of EleCare® specialty formulas.
- In July 2021, Ajinomoto launched an amino acid supplement with clinical study and randomized controlled trial (RCT) support, aiming to reduce the risk of cognitive decline in healthy middle-aged and older individuals with memory loss.
- In January 2022, Bayer AG announced the launch of Ambition, a novel amino acid-based medication tailored for the Chinese market.
- On February 2, 2021, Evonik showcased an expanded portfolio of products and services at the digital EuroTier event.
Key Companies Profiled
- Ajinomoto Co., Inc.
- KYOWA HAKKO BIO CO., LTD.
- Evonik Industries AG
- AMINO GmbH
- Taiwan Amino Acids Co. Ltd.
- ADM Company
- Cargill, Incorporated
- DAESANG CORPORATION
- Fufeng Group Company Limited
- iris Biotech GmbH
- RSP Amino Acid, LLC
- Sumitomo Chemical Co. Ltd.
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Key Segments Profiled in the Amino Acids Market Industry Survey
By Raw Material :
- Plant-Based
- Animal Based
By Application :
- Animal Feed
- Food & Dietary Supplements
- Pharmaceutical
By Livestock :
- Swine
- Poultry
- Cattle
- Others
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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