The latest market report published by Credence Research “Global Methionine Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 3.36 billion in 2020 and expected to reach a healthy CAGR of over 6.1% during the forecast period from 2021 to 2027 to reach around USD 4.80 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/methionine-market
Methionine is a form of an amino acid. Amino acids are the building blocks that our bodies make use of to make and develop proteins. This form of amino acid is found in meat, fish and all kinds of dairy products. It is pivotal for the basic functioning of the human body. The Sulphur’s presence in methionine helps to protect cells from pollutants and aids in the growth of the human body. The global outlook for methionine will be beneficial citing its use as a vital dietary supplement for livestock & poultry and enables for the expansion of the global economy along with rising meat consumption.
Key Trends in Global Market
COVID-19 Impact on the Market
Due to the phenomenal impact of the deadly Covid-19, the methionine market was badly impacted. The cross-country transportation regulations implemented around the world in response to the COVID-19 pandemic demolished the supply chain of key ingredients required for production of methionine such as ammonia, propylene, sulfur, methanol, etc. The entire methionine production witnessed a downline in numerous nations. Furthermore, operations of large end-user industries of the marketplace also had to slow down, which caused reduced methionine demand, in comparison to the pre-pandemic world. However, the situation is anticipated to improve in the forecasted timeframe, thereby repairing the growth proposition of the market in the forthcoming years.
Global Market by Type Insights
On the basis of Type, the global market can be divided into DL-Methionine, MHA and L- Methionine. DL-methionine category holds prominence among all types in the methionine market. Ascribing to its wide applications in food processing, pharmaceuticals, and animal husbandry, DL Methionine held the largest share in the methionine market.
DL-Methionine is found to be the most effective methionine source available for aquaculture feed. This is due to concentrated nutrients and ability to deliver particle size designed particularly for aqua feeds. Offering an ideal protein feed approach, it aids in producing improved quality, reduced waste and smoother production of feed. DL-methionine is dominating the market and anticipated to sustain its supremacy over the forecast time period.
Global Market by Application Insights
On the basis of the application, it is further bifurcated into animal Feed Additives, pharmaceuticals, food processing and aquaculture. But dietary supplements have been the primary market for methionine production. With all the essential nutrients which are lacking in the overall diet of an average human being, dietary supplements hold dominance. The dietary supplements are major players in current day health and wellness regimes.
Global Market by Regional Insights
In regional segmentation, the global coronavirus vaccines market is bifurcated into six key regions, namely, Europe, North America, Latin America, Asia Pacific, the Middle East, and Africa. Amongst the important regions, However, Europe dominates the methionine market due to the rise in the demand for dietary supplements and the growing geriatric population in this particular region.
Asia-Pacific is anticipated to see significant growth during the forecast period because of the increasing meat consumption in developing nations, change in lifestyle and increase in the annual disposable income. Additionally, presence of global brands and their challenges faced due to heavy competition from local and domestic brands, impact of domestic tax and disturbed trade routes are considered while analyzing the region segmentation.
Global Market Competitive Landscape
Some of the most prominent players operating in the global market include Novus International Inc., Ajinomoto Group, Evonik Industries AG, BASF SE, Arkema Group, Bluestar Adisseo Company, 10 Royal DSM, METabolic EXplorer and among others
Global Methionine Market by Type, 2015 – 2027
· L- Methionine
Global Methionine Market by Application, 2015 – 2027
· Animal Feed Additives
· Food Processing
Global Methionine Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Methionine Market: Key Players
· Evonik Industries AG
· Ajinomoto Group
· BASF SE
· Arkema Group
· Novus International Inc.
· Bluestar Adisseo Company
· METabolic Explorer
. 10 Royal DSM