Global Methionine Market to Boost in Coming Years – Projected to Stand at USD 5,728 Million by 2028
Published | 15 March 2022
The growth in the methionine market is primarily attributed to growing feed additives demand for maintaining a sufficient metabolism rate in the farm. Moreover, rising meat consumption in Asia-Pacific and Latin America is also likely to positively impact the global methionine market growth…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the global methionine market was worth USD 4,066.2 million in 2021 and is projected to reach up to USD 5,728.1 million by the year 2028, growing at a CAGR of 5.2% over the analysis period of 2022-2028. The expansion in the Methionine market is primarily attributed to the growing world population per year that will demand more food and various strategic approaches to get nutrition to keep the livestock productive and healthy. Moreover, the expansion of consumer choices coupled with rising income may demand protein foods like seafood, dairy products, and meat, thus propelling the growth rate of the global methionine market during the forecast year.
Extensive Application Of Methionine In Pharmaceutical Sector Driving The Global Market Growth
Methionine is considered the major source of protein for animals and has a wide range of health benefits and medical applications. Thus, it finds extensive usage in the pharmaceutical sector. Methionine helps improve the immune system by reducing intestinal oxidative stress, proliferating crypt cells, increasing goblet cells and intestinal structure. Furthermore, it may help in the prevention of ionizing radiation-induced harm to the body. It helps the body remove hazardous compounds such as heavy metals and helps prevent acetaminophen toxicity. It may also help in the prevention of fat deposits in the liver. L-Methionine is a standard provider of sulfur that prevents disease of the hair, skin, and nails. Furthermore, it even helps lower cholesterol levels by increasing the liver's production of lecithin, reducing liver fat, and protecting the kidneys. Due to the benefits mentioned above, methionine finds extensive usage in the pharmaceutical sector, thus driving the market growth rate of the global methionine market.
Food & Supplements Application Segment To Grow At A Higher Rate During The Forecast Period
The increasing trend towards a healthy life in recent years and the soaring demand for protein to fulfill the complete diet are influencing the growth of the methionine market. As poultry animals are considered a good source of protein and are easily available, they are getting popular among people. Thus, the food & supplements segment of the methionine market is expected to develop at the maximum CAGR during the forecast period. High demand for methionine in nutraceutical & dietary supplements and convenience food applications is being widely witnessed, as it provides nutritional benefits and enhanced flavors. Due to these properties of methionine, it is used in various food & supplements applications such as nutraceuticals & dietary supplements, infant formula, food fortification, convenience food, and others. Thus, the factors mentioned above boomed the market growth rate of the global methionine market during the forecast period 2022-2028.
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Impact Of COVID-19 On The Global Methionine Market
The emergence of the COVID-19 pandemic has disrupted the global methionine market. The lockdowns in major countries have completely shut down the methionine industries for several months. It is important to assess the impacts of the lockdowns in different industries. Since the COVID-19 has disrupted the supply channels reduced the workforce in companies of methionine due to social distancing. Also, it has lowered the market demand as people have decreased their per capita expenditure in several countries, and restriction on movement during lockdown has played the main role in lowering the growth of the automotive lubricant market. The pandemic has impacted the global methionine market in such a situation. But soon after lockdown, markets are expected to return to normal, and the hope for marvelous growth in the coming future definitely persists.
The Asia-Pacific Region Catered The Largest Market Share In The Global Methionine Market
In terms of regional analysis, the global methionine market is classified into North America, Europe, The Asia Pacific, Latin America, The Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region is expected to be the largest growing global methionine market due to the increasing dietary supplement demand, increasing cardiovascular disease, and obesity prevalence among people. Asia Pacific region is likely to enlarge at a momentous growth rate due to rising meat consumption in India, China, Vietnam, and other major countries. The varying food habits coupled with high disposable incomes resulted in the growth of the global methionine market. Moreover, Latin America is one of the major consumers of poultry products and is estimated to exhibit considerable growth. Other Regions, including eastern Europe and the Middle East and Africa markets, are projected to gain a grip over the forecast period due to altering trends for food and increasing protein intake in the diet is flourishing the growth of the methionine market in the region.
Competitive Landscape
The global methionine market is characterized by the presence of many local, regional, and global vendors. The methionine market is highly competitive, with all the players continually competing to gain a larger market share. The key players operating in the global Methionine market are Adisseo, NOVUS INTERNATIONAL, Evonik Industries AG, Sumitomo Chemical Co., Ltd., IRIS BIOTECH, GMBH, Zhejiang NetSun Co., Ltd., Royal DSM, AJINOMOTO Co., Inc., Chongqing Unisplendour Chemical Co. Ltd and other prominent players.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the global methionine market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global methionine market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
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