New York, NY, Dec. 12, 2018 (GLOBE NEWSWIRE) -- 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.
Browse through 71 Tables & 34 Figures spread over 110 Pages and in-depth TOC on “Global Methionine Market Size & Share 2017 Report: Industry Type, Growth, Segments, Analysis and Forecast, 2024”.
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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.
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The Asia Pacific is projected to dominate the global methionine market, due to the increasing consumption of animal-based products and animal feed production in the region. Additionally, the growing economy in the region and the rising population has led to rising usage of methionine across pharmaceutical and animal feed sectors. China is one of the largest manufacturers of animal feed in the world and also one of the key consumers of methionine, which is used as a supplement for piglets and ruminants. However, the fluctuating prices of raw materials might hinder the methionine market in the upcoming years.
The North American methionine market is predicted to be the fastest growing in the upcoming years, owing to the developments made in the pharmaceuticals and food and beverage industries. The growing application of methionine in the pharmaceutical industry is likely to drive this regional market over the forecast time period. Additionally, the rising demand for dietary supplements, increasing incidences of cardiovascular diseases and the growing obese population in the region are likely to fuel the demand for methionine in the years to come. Burgeoning product demand due to its nutritive benefits and enhanced flavors is likely to further drive this regional market’s growth.
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The European methionine market is anticipated to grow substantially in the upcoming years, due to the changing trend for food and increasing protein intake. Research and development activities, technological advancements, and activities related to the production of methionine are projected to propel the methionine market growth in Europe. Several key manufacturers of methionine, such as Arkema and Adisseo, are expanding their manufacturing bases and capacity in the European region. Therefore, this expansion is also expected to fuel the methionine market in the upcoming years.
The Latin American methionine market is projected to grow gradually due to the rapid urbanization and the growing population. Latin America is among the major poultry products consuming regions of the world. Thus, the growing use of methionine in poultry application is anticipated to boost the methionine market within the forecast period. In addition, the surging demand for protein foods, such as dairy products, seafood, and meat, is estimated to fuel the Latin American methionine market in the years ahead.
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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.
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This report segments the global methionine market as follows:
Global Methionine Market: Type Analysis
- L-Methionine
- MHA (Methionine Hydroxy Analogue)
- DL-Methionine
Global Methionine Market: Application Analysis
- Animal Feed
- Food & Dietary Supplements
- Pharmaceuticals
Global Methionine Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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