Selbyville, Delaware, April 15, 2020 (GLOBE NEWSWIRE) -- Global taurine market was pegged at USD 235.4 million in 2019 and is further estimated to surpass a mammoth of USD 337.3 million, at a growth rate of 6.93% over 2020-2026. The outbreak of novel coronavirus across more than 100 countries worldwide has produced a long-lasting impact on various industries including the taurine market. Considering the current scenario, the taurine industry is projected to grow at a CAGR of -4.2 per cent through 2020 recording a valuation of USD 225.6 million in the same year
Based on the type segmentation, the taurine market is characterized into food grade and pharmaceutical grade taurine products. Application segment includes food and beverage, healthcare, pet food and feed, and various other sectors. The market analysis provides an insight of the developmental trends across various regions including APAC, Europe, North America, Middle East, and Latin America. Of these, China has been predicted to emerge as a lucrative growth ground for taurine market. In addition to these, the research report mentions details about the impact of global and domestic industry players, regulatory reforms, value chain optimization, technological trends, novel product launches, opportunities analysis, and strategic market growth analysis.
Taurine is considered to be one of the most important amino acids present in human body. A major factor driving the growth of this industry is its rigid demand across various industrial verticals worldwide.
Based on the type, taurine market is fundamentally classified into food grade and pharmaceutical grade products. Food grade taurine products constitute of minimum 98.5% purity and are mainly used as food additives across the food and beverage industry. On the other hand, pharmaceutical grade taurine products have minimum 99% purity and contain low heave metal content, thereby finding immense use in drugs. Estimates claim that food grade taurine acquired an overall market share of 94% in 2019, while pharmaceutical grade seized a share of 5% in the same year.
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Taurine market is fragmented into an expansive application gamut including beverage, healthcare products, pet food, and various other sectors. The pet food and feed industry has been deemed to be a remunerative application sector for the taurine market. This is because the cats lack function of synthetic taurine in their bodies, and it is overt that dearth of taurine in food and feed causes blood taurine level to drop, affecting the function of retinal cells.
A gradual fall in taurine level in blood would result into retinal degeneration and blindness. Therefore, in order to maintain this, pet food and feed are mixed with taurine.
In addition to this, food additives and nutritional supplements are also the most important applications of taurine. Given that taurine is an essential amino acid important for human body, its intake level has to be continually monitored. A huge difference between taurine and other amino acids is that the former is not directly involved in synthesis of proteins but is free from the cell. This allows it to remove toxins from the body, resulting into the improvement of cell membrane stability, regulation of neurotransmitters production, and maintenance of calcium content between cells.
Serving as an excellent dietary additive, taurine is extensively used in F&B industry. Moreover, it is used in 99% of food additives in Japan, the United States, and various other countries.
In terms of the regional analysis, taurine market is looking into the possibilities of growth from various geographies worldwide. The industry is regionally divided into Asia Pacific, Europe, North America, Middle East, and Latin America. Research analysts have estimated that APAC region accounted for an overall business share of 34 per cent in 2019 and Europe acquired a share of 23 per cent in 2018.
Across the APAC region, it has been observed that the taurine industry is mainly concentrated in China with only about 4 enterprises operating in the field. Yongan Pharmaceutical co., Ltd., has been portrayed to hold the region’s and world’s largest production capacity. Apart from being the largest producer, it is also industry’s price leader and mobile producer .
Some of the major manufacturers partaking in the taurine market share worldwide include Yongan Pharma, Taisho pharma, Honjo Chemical, Fuchi Pharma, Yuanyang Pharmaceutical, and Jiangyin Huachang Food Additive.
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Worldwide taurine industry is fragmented in the basis of product types, applications, regional demographics, and competitive landscape.
Taurine Market Type Analysis (Revenue, USD Million, 2015-2026)
- Food grade
- Pharmaceutical grade
Taurine Market Application Analysis (Revenue, USD Million, 2015-2026)
- Beverage
- Pet Food
- Health Care Products
- Other
Taurine Market Regional Analysis (Revenue, USD Million, 2015-2026)
North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Russia
Asia Pacific
- China
- Japan
- South Korea
- Taiwan
- Southeast Asia
- India
- Australia
Latin America
- Mexico
- Brazil
Taurine Market Competitive Landscape Analysis (Revenue, USD Million, 2015-2026)
- Yongan Pharma
- Taisho Pharma
- Hanjo Chemical
- Fuchi Pharma
- Yuanyang Pharmaceutical
- Jiangyin Huachang Food Additive
Related Report:
Global Hypotaurine (CAS 300-84-5) Market Research Report 2020
Hypotaurine (CAS 300-84-5) market is expected to reach 253.9 million US$ 2026; according to new research report. This report studies the Hypotaurine market, ypotaurine is a sulfinic acid that is an intermediate in the biosynthesis of taurine. It mainly concentrated in China and Japan. The main market players are Qianjiang Yongan Pharmaceutical, China Grand Pharmaceutical and Taisho Pharmaceutical etc. The sales of Hypotaurine increased from 53.9 K MT in 2013 to 58.5 K MT in 2017, at a CAGR of 1.86%.
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones.
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