The taurine market is anticipated to be worth US$ 415.0 million in 2023 and US$ 815.4 million by 2033. During the projection period, taurine sales are anticipated to experience a strong CAGR of 7.2%.
Taurine, widely known as the “wonder molecule,” is becoming more popular in products such as energy drinks and dietary supplements. It has earned a name in the global market due to its use on both animals and people.
Energy drinks are becoming increasingly popular all around the world. Taurine is an ingredient included in energy drinks that is used to increase physical activity and bodybuilding. Taurine is found in Red Bull, a popular energy drink. It is ubiquitous in both industrialised and developing countries.
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Growth in international sporting events has compelled sportsmen to concentrate on preserving their physical fitness, which is anticipated to spur growth in the approaching years.
However, excessive usage of taurine as a supplement might cause health issues, restricting the expansion of the taurine market. Increased R&D and new product releases are projected to propel the taurine market forward in the near future.
Key Takeaways from the Taurine Market
- The taurine market in the United States is expanding at a rate of 6.9% as a result of important product launches, increased research activity, and a high concentration of manufacturers or market players, in the country.
- With a revenue share of US$ 40 million, the United Kingdom has contributed a sizeable share of the global market. The growing online sales channel and expansion of sports nutrition are proliferating market growth.
- Food-grade taurine tops the segment showcasing a growth of 5.6%. Taurine in food acts as an emulsifier and flavor enhancer in processed foods. Taurine is widely used in the production of packaged cereal, baby products, bakery items, and other items due to its properties. The growing demand for processed and packaged foods is driving up global demand for taurine.
- Currently, China holds a commanding growth rate of 7.9% in the Asia Pacific region. China is a leading producer of taurine, with more than 40 manufacturers in the country contributing to the world’s prominent production of the market product. Several manufacturers are outsourcing Taurine production to China and looking for low-cost suppliers in this country.
- Due to rising public awareness of fitness and well-being, the dietary supplements industry is expected to develop at the strongest pace of 11.5%. An increase in sporting events and activities is likely to expand market reach.
Competitive Landscape
Companies in the taurine market are attempting to increase taurine production capacity. Companies such as Qianjiang Yongan Pharmaceutical Co., Ltd. have an annual production capacity of 58,000 MT of taurine and are planning to expand production and storage capacity. Concurrently, the company is strengthening its supply chain to support this increase in volume.
Latest Developments
- Manufacturers including Qianjiang Yongan Pharmaceutical Co., Ltd., Songzhou Hu, and Vitaworks Ip, Llc are working on a novel taurine production process for the global market. Manufacturers strive to develop sustainable production processes, use less raw materials, and waste less. Manufacturers such as Kyowa Hakko Bio Co., Ltd. have developed a fermentation-based taurine production process because it creates a more controlled environment for several production factors and taurine extraction.
- Mimi’s Rock Corp. announced in February 2022 that its supplements brand, Dr. Tobias, is extending the range of products it offers by adding digestive enzymes, prebiotics, and probiotics to support gut health.
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Key Segments Covered in the Taurine Market Report
By Grade:
- Food Grade
- Feed Grade
- Pharmaceuticals Grade
- Others
End-use Application:
- Food
- Dairy Products
- Infant
- Bakery Products
- Cereal Products
- Beverage
- Energy Drinks
- Caffeinated Drinks
- Soft & Carbonated Drinks
- Animal Feed
- Aquaculture Feed
- Poultry Feed
- Pet Food
- Cat Food
- Dog Food
- Pet Supplements
- Cat Supplements
- Dog Supplements
- Dietary Supplements
- Cosmetics & Personal Care
- Skin Care Products
- Hair Care Products
- Toiletries
- Agriculture
- Pharmaceuticals
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