Methionine Market Size to Reach USD 6.92 Billion at a CAGR of 5.7% by 2030 | Reports and Data
The global Methionine Market size was USD 4.25 Billion in 2021 and is expected to register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data.
The market for methionine is expanding in terms of revenue due to rising demand for foods high in protein and growing consumer awareness of the value of a balanced diet. Methionine is a necessary amino acid that can be found in meat, fish, and dairy products. Amino acids are what proteins are made of.
The rise of the business is being fueled by easy access to raw materials from a variety of plant and animal sources, such as mahi-mahi, salmon, and other vegetables like asparagus and zucchini. Simple availability to raw materials makes it possible to produce the amino acid effectively while also maintaining production levels to meet growing demand. Rising efforts by numerous significant businesses and producers to improve their market positions are anticipated to fuel industry revenue growth.
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Top Companies: Novus Animal Nutrition Private Limited, Evonik, Adisseo, Sumitomo Chemical Co., Ltd, CJ CheilJedang Corp, Phibro Animal Health Corporation, Ajinomoto Co., Inc., Sunrise Nutrachem Group Co., LTD., Prinova Group LLC., Chongqing Unisplendour Chemical.
Further key findings from the report suggest:
- During the anticipated period, the North American market is anticipated to have rapid revenue expansion. Rising investments and the expansion of numerous businesses using methionine as a major component are anticipated to fuel revenue growth in this area.
- The largest liquid methionine production facility in the world, with a capacity of 180,000 tonnes, will be unveiled by Adisseo in China on September 20, 2022. The plant will boost the company’s reputation as one of the largest methionine producers and expand the global market for liquid methionine. The best fully vertically integrated liquid methionine manufacturing process in the world is owned by Adisseo, one of the few producers of both liquid and solid methionine.
- Evonik began manufacturing the second complex for MetAMINO (DL-methionine) in Singapore in June 2019. For the expansion of its product line, the corporation invested more than half of its USD 50 billion budget.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Methionine market is segmented into:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Methionine Hydroxy Analogue (MHA)
- DL-Methionine
- L-Methionine
Application Outlook (Revenue, USD Billion; 2019-2030)
- Animal Feed
- Food & Dietary Supplements
- Pharmaceuticals
Raw Material Outlook (Revenue, USD Billion; 2019-2030)
- Animal-based
- Plant-based
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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