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Oct 5, 2020 10:03 AM ET

Global Methionine Market Is Expected To Reach Around USD 4.90 Billion By 2024


iCrowd Newswire - Oct 5, 2020

Zion Market Research has published a new report titled “Methionine Market by Type (L-Methionine, MHA, and, DL-Methionine) and by Application (Animal Feed, Food & Dietary Supplements, and Pharmaceuticals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024”. According to the report, the global methionine market was valued at USD 3.35 billion in 2017 is expected to reach USD 4.90 billion by 2024, growing at a CAGR of 5.6% between 2018 and 2024.

Methionine occurs in two isomers, i.e., L- and D-methionine. Out of which, the L-form is majorly found in nature. Methionine is an amino acid that contains sulfur. It is one of the essential amino acids required for the normal growth and development of humans, avian species, and other mammals. Methionine improves the pliability and tone of hair, skin, and strengthens nails. It is widely used in livestock production for animal feed, other amino acids, and their derivatives.

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Global Methionine Market

Methionine market is anticipated to grow at a fast pace in the upcoming years, owing to the global increase in meat consumption. Additionally, the rising demand for methionine for substituting fish powder is further projected to boost the global methionine market over the forecast time period. Moreover, the growing application of methionine in the dietary supplement for ruminants and piglets is another factor anticipated to fuel the methionine demand. However, the price fluctuation of raw materials might hinder this market’s growth. Besides, the technological advancements made related to the production of bio-methionine are expected to propel the market growth in the near future and provide numerous opportunities to the market players.

The methionine market is segmented on the basis of type and application. By type, the methionine market is classified into L-methionine, MHA, and DL-methionine. DL-methionine dominated the global methionine market in 2017, due to its increasing use in the pharmaceutical, food processing, and animal husbandry. By application, this market includes animal feed, food and dietary supplements, and pharmaceuticals. Animal feed is the most dominating application owing to the growing consumption of meat globally. To increase the productivity of poultry farm, farmers make use of amino acids in animal diets, which, in turn, are projected to fuel the methionine market globally in the forecast timeframe.

Geographically, in 2017, Asia Pacific dominated the global methionine market in terms of revenue. This was due to the increased production of animal-based products and animal feed in the region. In addition, the consumption of meat is rising in China, India, and Vietnam, which is expected to boost the usage of methionine in the region. Moreover, North America is expected to be the fastest growing region, owing to the increasing demand by pharmaceuticals and food and beverages industries that use methionine as a raw material for certain products.

The global methionine market includes several end-players, such as Evonik, Novus International, Arkema, Chongqing Unisplendour Chemical, Sumitomo Chemicals, CJ Cheiljedang, Sunrise Nutrachem Group, Prinova Group LLC, Phibro, and Adisseo among others.

This report segments the global methionine market as follows:

Global Methionine Market: Type Analysis

Global Methionine Market: Application Analysis

Global Methionine Market: Regional Analysis

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Keywords:    Methionine Market

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