Phenylalanine Market: Current Analysis and Forecast (2022-2030)

The body uses phenylalanine which is an essential amino acid, to make proteins and other compounds. It is also a precursor to the neurotransmitters dopamine, norepinephrine, and serotonin involved in regulating mood, motivation, and other aspects of mental health. The surge in demand for phenylalanine and its subordinates is driven by various elements, including the development of the food and drink industry, the rising prominence of plant-based diets with fewer calories, and the rising predominance of emotional well-being problems such as anxiety and depression.

The Phenylalanine Market is expected to grow at a strong CAGR of 3.8% during the forecast period (2023-2030) owing to the rising demand for phenylalanine, as many plant-based protein sources such as soybeans and peas contain high levels of phenylalanine. Adding to this, the market is anticipated to expand in the forecast years due to the rising prevalence of mental health disorders has led to a growing demand for supplements that contain phenylalanine or its derivatives. As per the National Center for Chronic Disease Prevention and Health Promotion, in 2023, over 1 in 5 adults in the United States suffer from mental illness. A seriously debilitating mental illness has affected more than one in five young people (ages 13 to 18) either now or at some point in their lives.

Based on the type, the market is segmented into L-phenylalanine, D-phenylalanine, and DL-phenylalanine. Amongst these, the L-phenylalanine segment dominated the market in 2022 due to the expanding requirement for L-phenylalanine in the pharmaceutical and food industries. Also, the rising awareness of the advantages of L-phenylalanine is also contributing to the growth of the market.

By application, the market is segmented into depression, attention deficit disorder, Parkinson's disease, chronic pain, vitiligo, and others. Among these, depression is expected to grow with a significant CAGR during the forecast period (2023-2030). The rising number of depression and mental health disorders while phenylalanine supports depression relief because it plays a crucial role in the production of dopamine. According to the Division of Population Health, in April 2023, approximately one in every 25 adults in the United States, adults lives with a serious mental illness, such as schizophrenia, bipolar disorder, or major depression.

On the basis of end-users, the market is segmented into food and beverage, dietary supplements, pharmaceuticals, and others. The food and beverage category is expected to grow at a substantial CAGR during the forecasted period (2023-2030). This is because of widely used in the production of a wide range of food and beverage products. It is commonly used as a flavor enhancer, a source of nutrition, and a preservative. In the food industry, this is extensively used in the production of artificial sweeteners, such as aspartame and sucralose

For a better understanding of the market adoption of the phenylalanine industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. North America dominated the phenylalanine market in 2022 due to the increasing demand for protein-rich foods, and the increasing prevalence of chronic diseases such as diabetes, heart disease, and cancer that are becoming more prevalent and are frequently linked to unhealthy eating habits and inactivity. According to the IDF Diabetes Atlas in 2021, 10.5% of adults aged 20 to 79 have diabetes, and nearly half of them are unaware that they have the condition. According to IDF projections, approximately 783 million adults-or 1 in 8-will have diabetes by 2045, an increase of 46%. The production of medicines to treat these conditions necessitates phenylalanine, and as the number of people living with chronic conditions continues to rise the market for phenylalanine.

Some of the major players operating in the market include: Ajinomoto Co., Inc.; DAESANG; Livzon; KYOWA HAKKO BIO CO., LTD.; Amazing Nutrition; AMINO GmbH; Wuxi Jinghai Amino Acid Co., Ltd.; Shijiazhuang Jirong Pharmaceutical Co., Ltd.; Shijiazhuang Haitian Amino Acid Co., Ltd.; NOW Foods.