The global methionine market is expected to
reach USD 7.26 billion by 2022, according to a new report by Grand View
Research, Inc. Increasing feed additives demand for maintaining adequate
metabolism rate in livestock is expected to drive methionine market growth over
the next seven years. Increasing meat consumption in Asia Pacific and Latin
America is also expected to have a positive influence on the market growth. Recent
animal disease outbreaks across various regions have also prompted the need to
include methionine in animal feed.
Plants were major source of
manufacturing methionine and accounted for over 85% of total market volume in
2014. Stringent government norms to ban fish silage and bone meal were primary
factors for increasing penetration of plant based methionine in the global
market. Plant based methionine is also expected to witness significant growth
of 6.8% from 2015 to 2022.
Browse full research report on Global
Methionine Market: http://www.grandviewresearch.com/industry-analysis/methionine-market
Further key findings from the report suggest:
- Global methionine market demand was 1,044.7 kilo tons in 2014 and is expected to grow at a CAGR of 6.5% from 2015 to 2022.
- Animal feed emerged as the most dominant application segment and accounted for over 90% of total market volume in 2014. Poultry was the leading livestock consumer with demand share estimated at 74.8% of overall methionine in animal feed in 2014. Growing consumer awareness coupled with animal disease outbreak has prompted methionine demand in animal feed. Food & dietary supplements application segment is anticipated to grow at an estimated CAGR of 4.8% from 2015 to 2022.
- Asia Pacific was the leading regional market with demand share exceeding 30% in 2014. Changing lifestyle coupled with population expansion in countries such as China and India has increased meat consumption in the region which further has helped in shaping up the methionine market. North American methionine market is expected to grow at an estimated CAGR of 5.8% from 2015 to 2022.
- The market is highly concentrated and characterized by few dominant market participants accounting for a major share. Key companies operating in the global market includes Evonik Industries AG, Adisseo France SAS, Sumitomo Chemical Company and Novus International Inc.
- Other prominent players operating in the market include Tokyo Chemical Industry Co. Ltd., Ajinomoto Inc., Iris Biotech GmbH, Sunrise Nutrachem Group, Kyowa Hakko Bio. Co. Ltd., Royal DSM, Tocris Bioscience Ltd., AnaSpec Inc., Ajinomoto Inc., Prinova U.S. LLC, Beijing FortuneStar S&T Development Co., Ltd, CJ Cheil Jedang Corp., and Jinzhou Jirong Amino Acid Co., Ltd, .
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/animal-feed-and-feed-additives
Grand View Research has segmented the methionine market on
the basis of raw material, application and region:
Methionine Raw Material Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2022)
- Plant-based
- Animal-based
Methionine Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2022)
- Animal FeedFood & Dietary Supplements
- Swine
- Poultry
- Cattle
- Others
- Pharmaceuticals
Methionine Regional Outlook (Volume Kilo Tons; Revenue,
USD Million, 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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