The Rising Demand Of Animal Feed And Increasing Use Of Methionine In The Animal Feed To Boost The Methionine Market Growth

Methionine Market
Methionine Market

The Methionine Market is segmented by Type (Liquid and Powder), End-user Industry (Food and Beverage, Pharmaceutical, Animal Feed, and Other End-user Industries), and by Region (Europe, North America, Asia Pacific, Africa, Latin America and Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Methionine Market is estimated to be valued at US$ 4.45 Billion in 2022 and is expected to exhibit a CAGR of 5.7 % over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Methionine is an important amino acid mostly attained from meat, fish, and dairy items. Amino acids are the main things utilized to generate proteins. Methionine can’t be produced by the body, so it must be taken in the diet. It mimics an essential role in several functions in the body. It may also mimics as a flavonoid and aid to guard injured cells.

Competitive Landscape:

Key players involved in the global Methionine Market are Sumitomo Chemical Co. Ltd., Adisseo, NOVUS INTERNATIONAL, Evonik Industries AG, and Chongqing Unisplendour Chemical Co. Ltd.,

Market Key Drivers:

The rising demand of animal feed and increasing use of methionine in the animal feed is expected to augment the growth of global methionine for market. For instance, as per FAO it projects that around 60% more food to be produced by 2050.

The rising production of broilers is projected to propel the growth of global methionine for market. For instance, as per USDA, the value of broiler production crossed US$ 21.21 billion and reached US$ 31.52 billion in 2021.

Covid-19 Impact Analysis:

The Covid-19 outbreak had adversely affected the growth of the global Methionine Market due to the rise in pandemic. The production of methionine was interrupted due to the closure of manufacturing units, imposition of strict lockdown and disruption in supply chain. The restrictions on transportation also impeded the growth of the market.

Key Takeaways:

The global methionine for market is anticipated to exhibit a CAGR of 5.7 % during the forecast period due to the rising production of methionine for the expansion of the market. For instance, in September 2022, Adisseo started producing liquid methionine from its 180,000-ton new plant in Nanjing.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Methionine Market due to rising production of feed, rise in demand of methionine due to the rising demand of meat products and rise in aquatic and marine animals. For instance, according to the Ministry of Agriculture of China, the production of fish and other aquatic animals from marine and coastal aquaculture was estimated around 19.4 million mt in 2021.

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