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Sep 7, 2020 5:23 PM ET

Beta-Alanine Market Size Forecast to Reach $90 Million by 2025




iCrowd Newswire - Sep 7, 2020

Beta-Alanine Market size is forecast to reach $90 million by 2025 after growing at a CAGR of 5% during 2020-2025. Beta-Alanine are industrially produced as a result of reaction between ammonia and beta-propiolactone. It is a form of beta amino acid. The growth of the market of beta-alanine is expected to be driven by the high demand from the Medical and healthcare industry. The other growth factor is food and Beverage industry which is using beta-alanine for imitation of mushroom and to fortify flavorings in gravies & other substances.

By Product Type – Segment Analysis

Food grade beta-alanine held the largest share in the beta-alanine market in 2019. Food grade beta-alanine is extracted from the food products. Food grade beta-alanine is taken as a nutritional supplement by the body builders. Many of the food and beverage industries in the United States and China are incorporating Food grade beta-alanine to utilized as a food additive for imitation of mushroom and fortify flavorings in gravies and other substances. The growth of Food grade beta-alanine can be taken as directly proportional to the growth of food industry. Some of the larger emerging markets of Food grade beta-alanine are China, India, Russia, Brazil and Japan driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S.

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By Application – Segment Analysis

Feed Additives application held the largest share in the beta-alanine market in 2019. Feed additives play an increasingly important role in animal nutrition. The livestock producers seek new sustainable and natural ways to enhance performance, improve gut health, optimize feed conversion, reduce and replace antibiotic growth promoters in feed, and address consumer demands so, beta-amines based feed based is good option for them. Beta-Alanine accounting for more than 40% of the global feed additives market. With the industrialization of the animal feed sector, the use of feed additives has been increasing over the years. The price volatility of natural feed sources during the past decade leads to an increment in the usage of different feed additives in the animal feed industry. Industrialization of the livestock, feed, and processed meat industry has necessitated the application of feed additives, as they act as a supplement, nutrient enhancer, feed conditioner, with all required essential elements for optimum growth of the animals.

By End user – Segment Analysis

The Medical sector has been the primary market for beta-alanine in 2019 growing at CAGR of 6%. Beta-Alanine is used to manufacture the nutritional capsules and pills. It is also often used as a metabolic intermediates in coenzyme, like pantothenic acid .With global health spending expected to rise, it will likely present many opportunities for the medical sector. Among these the growing and aging population, rising prevalence of chronic diseases are major drivers in the growth of medical sector globally. In the United States, overall spending growth is driven by a range of factors including new product uptake and brand pricing, while it is offset by patent expiries and generics. Medicine spending in Japan totaled $86 billion in 2018. In Europe, cost-containment measures and less growth from new products contribute to growth of 1−4%, compared to the 4.7% compound annual growth seen over the past five years. Medical spending in China reached $137 billion in 2018 and is expected to reach $140−170 billion by 2023, but its growth is likely to 3−6%.

Geography – Segment Analysis

APAC dominates the beta-alanine market with a share of 43% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the food and chemical industries. Increasing awareness regarding protein health benefits among youth and rising importance of active lifestyles are major factors which drive the growth of beta-alanine market. Growth in pharmaceutical sector and rapid urbanization are other factors which supplement market growth of beta-alanine. The 2019–2020 coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. The current epidemic outbreak has deeply influenced consumers’ daily life and in addition to the impact on food and personal care. It is estimated that changes will also be witnessed in consumers’ purchase behavior. The supply chain of food industry is affected because it depends on the products, ingredients, or supplies from China. The Country has been choked off from suppliers, workers, and logistics networks. China’s manufacturing base is facing a multitude of unprecedented challenges, as coronavirus containment efforts hamper factories’ attempts to reopen. This may cause shortages in the global food industry and sourcing from unreliable places.

Drivers – Beta-Alanine Market

Increase in Health and Fitness Trends Boosts the Demand for Beta-Alanine

The increase in the elderly population is anticipated to serve as a driver for the beta-alanine market. As age increases, there is a loss of skeletal muscle mass and muscle function. The elderly population may have less carnosine concentration as compared to the youth population. Therefore, the elderly population is expected to incline towards the use of beta-alanine supplements to maintain the carnosine levels and to improve muscle strength. Thus, the global increase in the elderly population is anticipated to serve as a driver for the beta-alanine market.

Increasing awareness regarding protein health benefits

Protein is an important component of every cell in the body. Hair and nails are mostly made of protein. Body uses protein to build and repair tissues, make enzymes, hormones, and other body chemicals. Protein is an important building block of bones, muscles, cartilage, skin, and blood. Rise in the protein intake among the population, increasing awareness regarding protein health benefits among youth and rising importance of active lifestyles are major factors which drive the growth of beta-alanine market.

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Challenges – Beta-Alanine Market

High dose of beta-alanine cause severe damage in the human body

High dose of beta-alanine can cause taurine deficiency and paresthesia, a potentially uncomfortable tingling of skin which usually affect face, abdomen & chest. In some cases it will affect the internal organ. This can hinder the market growth of beta-alanine.

Beta-Alanine is unsafe for pregnant women which will hinder the growth of market

Beta-alanine in unsafe for pregnant woman. It leads to some severe health issues. Higher dose may cause casualty of the un-born baby. Thus beta-alanine are not being advisable to the patients. There substitutes are available in the market. This factor will hinder the growth of the market in the forecast period.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the beta-alanine market. In 2019, the market of beta-alanine has been consolidated by the top five players accounting for xx% of the share. Major players in the beta-alanine market are Optimum Nutrition, Now Foods, ALLMAX Nutrition, Six Star, Primaforce and others.

Acquisitions/Technology Launches/ Product Launches

In January 2018, 4Plus Nutrition has launched Beta-Alanine+ Dietary supplement in powder form based on beta Alanine of the CarnoSyn brand, effective to combat muscle fatigue and improve physical performance in sports activities involving aerobic, anaerobic or mixed metabolism.

Key Takeaways

Asia-Pacific dominates the beta-alanine market owing to increasing demand from medical and health care industry.

Rising importance of healthy lifestyles is driving the growth of the beta-alanine market.

High dose of beta-alanine will create health issues are likely to hinder the market growth of beta-alanine.

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https://www.industryarc.com/Report/17679/succinic-acid-market.html

B. Beta-Carotene Market

https://www.industryarc.com/Research/Beta-Carotene-Market-Research-503547

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