The global market for amino acids is anticipated to be valued at USD 27.5 billion in 2023 and grow at a compound annual growth rate (CAGR) of 8.7% to reach USD 63.4 billion by 2033. Increased consumer spending power and growing public awareness of preventive healthcare and healthy lifestyles are the main drivers of market growth. Supplements containing amino acids are used to treat muscular soreness, lessen weariness, and lower the risk of cardiovascular disease. Athletes are also using amino acid-based tablets, powders, and drinks to support muscle growth, and these products are becoming more and more popular as nutritional sports supplements.
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.
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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.
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,” Says an Analyst at Future Market Insights (FMI).
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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.
Top Key Players in the Global Market
- 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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