NEWARK, Del, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Future Market Insights is a prolific ESOMAR certified market research and consulting firm, which recently published its new study on the taurine market that offers an in-depth analysis and key factors driving demand for taurine. The report tracks the global sales of taurine in more than 20 high-growth markets, combined with analyzing the impact COVID-19 has had on the food and beverage industry in general, and taurine in particular.
Taurine is known as the “wonder molecule” in the food & beverage industry which is excessively used in products such as energy drinks, dietary supplements, and others. Due to its application for animals and human beings alike, it has managed to mark its presence in the global landscape. Taurine as an ingredient has been witnessing several applications that are not just restricted to the food & beverage industry, but also expand to haircare, skincare, and baby toiletries as well.
According to the research conducted by Food and Drugs Administration (FDA), taurine was declared to be “Generally Recognized as Safe” (GRAS) by Intertek Scientific and Regulatory Consultancy. This allowed taurine to be exempted from premarket approval and its widespread application in beverages has fueled the growth of the taurine market throughout the forecast period.
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Key Takeaways
- Taurine was extracted from bulls or sheep during the earlier days but now increasing awareness about animal cruelty and animal welfare is making consumers refrain from using taurine extracted from these traditional sources.
- The extensive applications of taurine are being recognized by manufacturers and consumers alike. This has resulted in the rising development of several products containing an ingredient, for instance, baby food, cosmetics, and personal care. The two-end use of the application of taurine is increasing awareness of its application and surging demand in the global market.
- Taurine is secreted in each individual and its secretion decreases with age. Taurine deficiency is common among people with chronic diseases such as diabetes, cancer, or coronary disease. Deficiency of taurine often leads to health disorders such as certain pathological changes and cardiomyopathy, renal dysfunction, developmental abnormalities, and severe damage to retinal neurons. Due to growing abnormalities, the demand for taurine is skyrocketing during the forecast period.
- In order to eliminate the prevailing diseases among humans, taurine is often used as a food and feed additive. According to the American Association of Feed Control Officials (AAFCO) and the National Research Council (NRC), it is crucial to include taurine in the diet of dogs and cats in a regulated quantity that is assigned by them. Taking this into consideration, the rising prevalence of taurine is driving market growth.
Competitive Landscape
Key manufacturers in the taurine industry are focusing on expanding production combined with strong capacity in order to fulfill the surging demand for taurine in the world. Key players in the market are also planning to find alternative ways to produce taurine in a more environment-friendly way so as to eliminate the extraction of taurine from animals. As per FMI analysis, the global taurine market to grow at 7.2% CAGR through 2031.
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Key Companies Profiled
- MTC Industries Inc.
- Stauber USA.
- Foodchem International Corporation
- The Honjo Chemical Corporation
- Qianjiang Yongan Pharmaceutical Co., Ltd.
- New Zealand Pharmaceuticals Ltd.
- Ajinomoto Co., Inc.
- Kyowa Hakko Bio Co., Ltd.
- Jiangsu Yuanyang Chemical Co., Ltd.
- Fuchi Pharmaceutical Co., Ltd
- Penta Manufacturing Company
- Mitsui Chemicals, Inc.
- AuNutra Industries Inc.
- Hebi City Hexin Chem Ind. Co., Ltd.
Key Segment
End Use Application
- Food
- Beverage
- Animal Feed
- Pet Food
- Pet Supplements
- Dietary Supplements
- Cosmetics & Personal Care
- Agriculture
- Pharmaceuticals
More Insights into the Taurine Market
According to FMI projections, China is expected to lead the East Asian market by being the largest producer of taurine in the global market. Owing to the country’s well-established infrastructure and a highly efficient workforce for large-scale production of taurine is expected to auger its sales and production in the future.
China and Japan are not just considered prominent producers of taurine but also drastically increasing their consumption of taurine for producing finished goods to be sold in the global market. China alone was accountable for exporting more than 80% of the produce of taurine to other countries.
Europe is one of the leading consumers of energy drinks all over the world. It has been estimated that consumers in Europe gulp down at least 2.1 liters of energy drink every month. As taurine is a prominent ingredient in an energy drink, it is thus expected to witness growth in the consumption of taurine.
India is also showing lucrative growth opportunities for infant formula. According to a study by World Bank, the fertility rate in the country stood at a little above 2.2 in 2018. Despite the declining birth rate, India continues to remain highly populated. Resultantly the surging demand for infant and neonatal formula will remain a chief growth driver for the market in the country.
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Table of Content
1. Market Introduction
1.1. Global Taurine Market- Research Scope
1.2. Global Taurine Market – Introduction
1.3. Global Taurine Market – Definition
2. Scenario Assessment of the Impact of COVID-19 on Taurine Market
2.1. Scenario Assessment of the Impact of COVID-19 on Taurine Market
2.2. Market Scenario and the Forward Path
2.3. Possible Scenarios for Economic Impact
2.4. Impact on Food Sectors related to Taurine Market
2.5. Health Food Sales Will Increase Amid COVID-19 Concerns Which is Beneficial for Taurine Market
2.6. China Taurine Market Value (US$ Mn) Scenario Forecast, 2021 & 2031
2.7. U.S. Taurine Market Value (US$ Mn) Scenario Forecast, 2021 & 2031
2.8. Euro Zone Taurine Market Value (US$ Mn) Scenario Forecast, 2021 & 2031
2.9. Asia Zone Taurine Market Value (US$ Mn) Scenario Forecast, 2021 & 2031
2.10. Rest of the World Taurine Market Value (US$ Mn) Scenario Forecast, 2021 & 2031
2.11. Current Scenario/Immediate Actions
2.12. Key Factors Impacting the Market
3. Key Trends
4. Product Innovation / Development Trends
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