The global methionine market size is expected to reach US$ 5.57 Billion in 2032. The methionine market is experiencing robust growth, serving as a crucial component for finfish, crustaceans, and shrimps, as well as being a vital amino acid for human health. Its significance extends to playing a pivotal role in the metabolism and well-being of various species, including humans. Methionine supplementation proves beneficial for individuals facing copper poisoning.
The United States Food and Nutrition Board established Recommended Dietary Allowances (RDA) for amino acids in 2002, setting the maximum recommended allowance for adults at 19mg/kg body weight/day for methionine. Notably, the U.S. certified organic program permits the use of methionine as a supplement in organic poultry feed.
Rich sources of methionine include eggs, fish, and meat, with pharmaceutical applications encompassing treatments for allergies, alcoholism, drug withdrawal, depression, asthma, and radiation side effects, among others. However, challenges arise from studies indicating a link between overconsumption of methionine and cancer growth, posing a potential hindrance to the continued growth of the methionine market.
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Animal Feed Sector to Lead the Growth of the Methionine Market
Animal feed has emerged as the primary application end-use segment and expected to lead the segment for the years to come. Poultry is the leading consumer for methionine. The increasing emergence of fish proteins and tuna infused based dietary, and sports supplements are leading to a healthy lifestyle is expected to provide a significant boost to the market. Methionine is evolving as a replacement for fish powder since it is cheaper, effective, and easily available. In pharmaceuticals, methionine is being used for medicines for treating liver disorders, increasing acidity of urine and bettering wound healing. Growing concern for animal welfare is anticipated to be the primary factor driving significant to the methionine market over the next few years.
Methionine Market: Key Developments
- In October 2016, Evonik Industries started the construction of its second methionine complex in Singapore. The complex possesses the production capacity of around 150,000 metric tons with initial investment costs more than half a billion dollars.
- In July 2015, Evonik Nutrition, DSM Nutritional Products Ltd., and Care GmbH announced their joint development agreement for the production of algae-based omega-3 fatty acids products made for animal nutrition, particularly for applications of pet food. The contract aimed to meet the increasing demand for omega-3 fatty acids.
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Methionine Market: Regional Analysis
The methionine market in Asia-Pacific is expected to account for the largest share in terms of volume owing to the abundant population and an extensive animal feed industry. Increasing demand for dietary and sports supplements is expected to play an important role in the growth of the market in Asia-Pacific. Also, the production of cattle has taken a significant toll, which is expected to help further the Asia Pacific to retain its position in the market at the end of the forecast period. Meanwhile, the methionine market in North America is expected to register the fastest growth over the forecast period. By product type, plant-based methionine was leading the market and expected to gain more share over the forecast period owing to the stringent government norms to ban bone meal and fish silage.
Methionine Market: Key Participants
Some of the market participants in the Methionine market are:
- Evonik Industries
- Tokyo Chemical Industry Co.
- Sumitomo Chemical Corporation Limited
- Bluestar Adisseo Company
- CJ Cheil Jedang
- Ajinomoto Co., Inc.
- Chongqing Unisplendour Chemical
- Phibro Animal Health
- Sunrise Nutrachem
- Prinova Group
- Iris Biotech GmbH
- Kyowa Hakko Bio Co., Ltd.
- DSM Nutritional Products AG
- Tocris Bioscience
- Beijing FortuneStar S&T Development Co., Limited
- Jinzhou Jirong Amino Acid Co., Ltd.
- AnaSpec, Inc.
- Novus International Inc.
- Kingchem Life Science LLC
- Stolt Nielsen Japan Co., Ltd.
The research report presents a comprehensive assessment of the Methionine market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.
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Methionine Market Segmentation
The Methionine market can be segmented on the basis of product type and end use
On the basis of product type, the Methionine market can be segmented as:
- Animal-based
- Plant-based
On the basis of end use, the Methionine market can be segmented as:
- Food and Dietary Supplements
- Animal Feed
- Poultry
- Pigs
- Cattle
- Others
- Pharmaceuticals
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