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Methionine Market by Type (L- Methionine, DL-Methionine, MHA) by Application (Animal Feed Additives, Pharmaceuticals, Food Processing, Aquaculture): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global Methionine Market is likely to attain a market value of USD 4.80 billion in 2027 from USD 3.36 billion in 2020. The CAGR for this market is expected to reach over 6.1% during the forecast period.

The constant need for leading a healthy lifestyle coupled with the increasing adoption of dietary supplements among the end users, negligent healthcare spending, and the growing geriatric population is expected to boost product demand in the forthcoming years. Additionally, growing concerns about obesity among young people in many countries are anticipated to propel the growth of dietary supplements in the market. Also, the increased intake of sports supplements is cited as accompanying the high demand for methionine in the future. Furthermore, rising demand from the cosmetics and pharmaceutical industries extends future opportunities to the market players of methionine in the forecast period. Credence Research offers holistic information and absolute accuracy in the “Global Methionine Market report.”

Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

Various Factors Driving the Market Growth

The driving factors contributing to the growth of the global market are the spike in meat consumption as a source of protein globally, changing lifestyle patterns, increased usage of frozen meat and allied products, and operations of many meat outlets. Furthermore, the increasing consumption of sports supplements is also seen to complement the demand for methionine over the next few years. In addition, the growth of the middle-class population in many countries has caused increased spending in the healthcare industry, expanding the global methionine market. Considering the factors mentioned above, the global methionine market is about to see a favorable surge in the near future.

Asia-Pacific to lead the global market in geographic regions

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the global market. Asia-Pacific topped the market by acquiring a 31.8% share in 2020.

The Powder leads Global Market in terms of Form.

Based on the methionine form, it is further divided into liquid and powdered Forms. Owing to the high stability and impressive shelf life, the powdered format is preferred over and above the liquid ingredients. Specialty carbohydrates, fish-derived collagen, carotenoids, fibers, and numerous plant extracts are present as powders that have application in methionine product production.

Food processing to dominate the global market in the coming years

Animal Feed Additives, Pharmaceuticals, Food Applications, and Aquaculture are the various market applications. In the past few years, animal feed additives had the highest market share in the application segment in the methionine market, citing reasons such as mounting demand for animal feed supplements, owing to the increasing demand to sustain the metabolism rate in livestock. However, the stringent government regulations it has prohibited bone meal and fish meal usage for developing amino acids, posing a challenge for the animal feed share of the market in the previous years. However, food processing is anticipated to dominate the market in 2020 and is projected to do so in the forecast period.

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Godaddy
Published Date:  May 2021
Category:  Chemicals
Report ID:   60370
Report Format:   PDF
Pages:   120
Rating:    4.2 (68)
Delivery Time: 24 Hours to 48 Hours   
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