Market Research Report
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 416 Pages
Delivery time: 1-2 business days
Global Amino Acids Market to Reach $29.6 Billion by 2026
Amino acids, also known as building blocks of the human body, are organic molecules and constitute the fundamental components of proteins. Animal feeds market is the principal contributor to the growing worldwide demand for amino acids. Growing meat consumption and the rising production of livestock such as broiler, cattle and swine are expected to fuel demand for feed additives and thus drive growth in consumption of ingredients such as amino acids. The increasing acceptance of meat as a major source of protein, as well as the increasing intake of nutraceuticals for a healthy lifestyle are driving demand for both feed grade and food grade amino acids across the world. Another emerging application area of amino acids is the cosmetics and sweeteners market. Increased use of amino acids in formulations for anti-aging products and moisturizers has opened up new opportunities for manufacturers. Health foods which were growing in demand even before the pandemic is now witnessing higher growth catalyzed by the public health crisis. Supplements that boost immune health, boost overall wellness and reduce anxiety or stress are recording robust retail gains especially at online pharmacies. Amid the COVID-19 crisis, the global market for Amino Acids estimated at US$21.2 Billion in the year 2020, is projected to reach a revised size of US$29.6 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Glutamic Acid, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$11 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Methionine segment is readjusted to a revised 5.5% CAGR for the next 7-year period. Methionine demand mainly arises from poultry products, as well as select applications in the cattle market. Methionine is also extensively used in dietary supplements. Therefore, factors such as growing consumer demand for dietary supplements, supported by increasing geriatric population, increasing focus of people for a healthy lifestyle by avoiding healthcare costs are expected to drive demand for methionine during the next few years.
The U.S. Market is Estimated at $3.2 Billion in 2021, While China is Forecast to Reach $8 Million by 2026
The Amino Acids market in the U.S. is estimated at US$3.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8 Billion by the year 2026 trailing a CAGR of 6.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Rising consumption of meat and meat-derived products, led by population growth, rising income levels and changing consumer preferences, is expected to provide growth for food-grade and feed-grade amino acids in the developing economies.
Lysine Segment to Reach $5.7 Billion by 2026
Demand for lysine is expected to rise led by increase in meat consumption. Lysine is increasingly finding application as the most preferred amino acid additive in animal feed particularly for chicken and swine feed. Demand is mainly led by developing economies like China, Southeast Asia, Brazil and Russia, characterized by a larger livestock base, increased lysine penetration rates and rising demand for meat. In the global Lysine segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$3.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2026, while Latin America will expand at a 7.2% CAGR through the analysis period.
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