The global methionine market is expected to grow at a CAGR of more than 5% over the forecast period. This growth is mainly attributed to rising health issues of consumers globally. Along with this, increasing demand for protein-rich food coupled with rising consumption of animal-based products is likely to stimulate the market for methionine.
Moreover, growing demand for feed additives in order to maintain adequate metabolism rate in livestock is also expected to augment market growth over the coming years. The increasing application of methionine in pharmaceutical sector as an intermediate in producing vitamin and liver-related medicines is anticipated to foster the market growth.
However, factors such as high price of methionine and lack of availability of raw materials are projected to affect the profitability of the market over the forecast period.
Methionine Market: Type Insights
On the basis of type, the industry is segmented into L-Methionine, Methionine Hydroxy Analogue, and DL-Methionine. The market for DL-Methionine is expected to occupy the highest share owing to factors such as high antioxidant capacity, reduced nitrogen excretions, support performance during heat stress, and ability to treat depression & liver diseases among others.
Methionine Market: Application Insights
Methionine finds its application in animal feed, food & dietary supplements, and pharmaceutical sectors among others. While the food & dietary supplement includes nutraceutical & dietary supplements, infant formula, and food fortification among others, the animal feed includes poultry, swine, ruminants, and aquaculture. The animal feed segment is anticipated to dominate the market over the forecast period owing to increased demand for proper diet to ensure better animal health. Along with this, increasing application of methionine in animal feed to provide adequate nutrition for growth is also likely to favor the market.
Methionine Market: Regional Insights
Asia Pacific accounted for the largest market share in 2016 due to increasing disposable income of the consumers coupled with rising health awareness in this region. Moreover, growing demand for protein rich food is projected to augment the market growth. Demand is expected to arise from countries such as India, China, Thailand and Japan.
Methionine Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Methionine Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase methionine over the coming years. Some leading consumers of this market are Bayer, Sanofi, and Roche.
Methionine Market Share & Competitor Analysis
Some of the key players operating in the methionine market include Evonik, Adisseo, Novus International, CJ CHEILJEDANG, Sumitomo Chemicals, AJINOMOTO, Phibro, Prinova Group LLC, Sunrise Nutrachem Group, Chongqing Unisplendour Chemical, Amino GmbH, Bewital Agri, and Iris Biotech.
In January 2018, Adisseo, a subsidiary of China National BlueStar, announced opening a new liquid methionine facility in Nanjing, China. The company provides liquid and solid forms of methioline to aqua, ruminants and pet food sectors. The new facility is expected to reduce capital and operational expenses of the company.
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