The global methionine market size was valued at USD 5.67 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. Increasing awareness regarding health issues and rising demand for protein rich foods are expected to drive the methionine market growth. Moreover, the increased use of methionine in pharmaceuticals is also likely to foster the market growth. Furthermore, increasing consumption of sports supplements is further anticipated to support the methionine market.
Global Methionine Market: Regional Insights
Regionally, Asia Pacific region is expected to hold leading position in the global methionine market over the forecast period. The growing disposable income, a growing population, and changing food habits in this region are some of the factors that are contributing to the growth of the methionine market. In fact, this region accounts for a substantial market share of the global methionine market.
North America is also expected to witness fastest growth in the global market over the forecast period owing to the higher consumption rates of poultry/broiler meat, and the use of these amino acids in animal feed. This has boosted the demand for methionine in the region. Moreover, the U.S. is one of the largest consumers of methionine in this region.
Figure 1. Global Methionine Market Value Share (%), By Region, 2021
To learn more about this report, request a free sample copy
Global Methionine Market Drivers:
Growing demand from aquaculture sector is primarily fueling growth of the methionine market. The Food and Agriculture Organization (FAO) 2020 report revealed that Asia has the largest share in the global fish production at 89%, since the last 20 years. In 2018, the global capture fish production reached the highest-ever level and recorded 96.4 million tons; this was driven by marine capture and inland fishing.
Rising awareness regarding nutritious diet is again projected to augment market growth. This has led to the consumption of meat worldwide. According to the United States Department of Agriculture, in 2021, 68.1 pounds of chicken per person were available for human consumption in the United States (on a boneless, edible basis), compared to 56.2 pounds of beef. Since 1980, U.S. chicken availability per person has more than doubled. In 2021, 47.5 pounds of pork per person were available for consumption.
Global Methionine Market Opportunities:
Growing focus on eco-friendly extraction process of methionine is projected to hold significant growth opportunities. For instance, the European Union implemented rule and restricted the usage of non-organic proteins to 5%. The United States also banned the usage of synthetic DL-Met in organic livestock production. Besides ban, the synthetic methionine is significantly expensive in comparison to methionine made from natural sources. The biotechnical means of methionine production is through the use of various bacteria and yeasts which are able to produce amino acids under adequate conditions.
The use of methionine is also increasing in the personal care &cosmetics industries which is again projected to bring lucrative market growth opportunities. Moreover, the increasing geriatric population is another factor contributing to the growth of this market over the forecast period.
Methionine Market Report Coverage
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2021 | Market Size in 2021: | US$ 5.67 Bn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 9.3% | 2030 Value Projection: | US$ 7.29 Bn |
Geographies covered: |
|
||
Segments covered: |
|
||
Companies covered: |
Adisseo, Ajinomoto Co. Inc., Anaspec Inc. (Eurogentec SA), Beijing Fortunestar S&T Development Co. Limited, Chongqing Unisplendour Chemical Co Ltd, CJ Cheiljedang Corp., Evonik Industries AG, IRIS Biotech GmbH, Novus International, Prinova Group LLC, Shijiazhuang Jirong Pharmaceutical Co. Ltd, Sumitomo, Chemical Co. Ltd, and Tokyo Chemical Industry Co. Ltd |
||
Growth Drivers: |
|
||
Restraints & Challenges: |
|
Global Methionine Market Trends:
The rising popularity of bio-based products is emerging as a major trend for methionine market. Increasing income and household income has led to the high demand for animal feed. Besides, the increasing awareness about a healthy lifestyle has boosted the demand for protein-rich foods. This in turn augmenting market growth.
Growing demand for liquid methionine is expected to positively impact the market growth. For instance, in January 2018, Adisseo announced plans to construct a new liquid methionine plant at Nanjing, China. This would be the company’s third liquid methionine plant, with the other two plants in Burgos, Spain, and in Nanjing, China. This new plant is expected to have an annual production capacity of 180 kiloton.
Global Methionine Market Restraints:
Complex manufacturing process of methionine is expected to hinder the market growth. This factor restrict manufacturer to enter into the market. Moreover, this process also require high technological skills with large capital investment.
Falling prices due to oversupply is again projected to restrict the market growth. For instance, due to lakc of supply the price of methionine peaked in mid-2015, leading to rise in the global prices of methionine, and the market experienced a shortage in supply across the globe.
Figure 2. Global Methionine Market Value Share (%), By End user Industry, 2021
To learn more about this report, request a free sample copy
Global Methionine Market Segmentation:
The global methionine market report is segmented into Type, End user Industry, and Geography
Based on Type, the market is segmented into Liquid and Powder. Out of which, Liquid is expected to dominate the global market over the forecast period and this is attributed to the high consumption of liquid methionine worldwide. According to the company sources, consumption of liquid methionine is expected to be higher than powder methionine in the market, majorly driven by the growing industrialization in China and India’s feed sector. Moreover, the current demand for liquid methionine is around 40% in Asia Pacific and European region, while in countries, such as the United States and Mexico, the utilization of liquid methionine is more than 60%, at present.
Powder segment is also expected to witness significant growth in the near future and this is owing to the growing demand from pharma sector for various therapeutic application.
Based on End user Industry, the market is segmented into Animal Feed, Pharmaceutical, Food and Beverage, and Other End user Industries. Out of which, Food and Beverage is expected to dominate the global market over the forecast period and this is attributed to the increasing use of methionine and other amino acid to replace vitamins and minerals lost during processing of food.
Pharmaceutical segment is also expected to witness significant growth in the near future and this is owing to the use of methionine as an intermediate in the production of vitamin and liver preparations.
Global Methionine Market: Key Developments
In January 2018, Adisseo announced plans to construct a new liquid methionine plant at Nanjing, China. This would be the company’s third liquid methionine plant, with the other two plants in Burgos, Spain, and in Nanjing, China. This new plant is expected to have an annual production capacity of 180 kiloton.
In November 2017, Ajinomoto Co. Inc. (“Ajinomoto Co.”) acquired an equity position in the US medical foods company, Cambrooke Therapeutics Inc., (“Cambrooke”) through Ajinomoto North America Inc. (“AJINA”) for approximately USD 64 million (approximately JPY 7.2 billion), and made it a wholly owned subsidiary.
Global Methionine Market: Key Companies Insights
The global methionine market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global methionine market are Adisseo, Ajinomoto Co. Inc., Anaspec Inc. (Eurogentec SA), Beijing Fortunestar S&T Development Co. Limited, Chongqing Unisplendour Chemical Co Ltd, CJ Cheiljedang Corp., Evonik Industries AG, IRIS Biotech GmbH, Novus International, Prinova Group LLC, Shijiazhuang Jirong Pharmaceutical Co. Ltd, Sumitomo, Chemical Co. Ltd, and Tokyo Chemical Industry Co. Ltd
*Definition: Methionine is a protein component involved in the commencement of mRNA translation. It is mainly used in animal feed and pharmaceuticals. It has been known to promote muscle growth.
Frequently Asked Questions
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients