- Growing number of women are turning to modern salon services for creative hairstyles and improving hair fiber, which is likely to boost revenue generation opportunities for the market
ALBANY, N.Y., April 05, 2022 (GLOBE NEWSWIRE) -- The global taurine market was worth around US$ 0.2 Bn in 2020. The market is anticipated to rise at a CAGR of 5.3% during the forecast period, from 2021 to 2031. The global taurine market is likely to attain the mark of US$ 0.3 Bn by 2031. The increasing incidence of taurine insufficiency in dogs and cats is driving the demand for new healthy pet foods. Endorsements by celebrities for pet food products in India through mainstream media and eCommerce are leading to value-grab possibilities for taurine producers.
Taurine is a well-known necessary amino acid that aids in the maintenance of a healthy heart and enhances the vision of dogs and cats. Omega 3 and 6 fatty acids keep the coat lustrous and beautiful, and taurine brands are taking advantage of this option to boost their output capacities. The combination of taurine, organic minerals, and other substances helps to keep urinary pH in check. As a result, pet food producers are increasing the production of prebiotics as well as probiotics to prevent cats against hairball development and maintain the wellness of their digestive systems.
Companies in the global taurine market are pursuing revenue potential in a wide range of applications, including cosmetics, cleaning goods, and flavors, among others. Firms are offering Certified Reference Material (CRM) for food and pharmaceutical grade taurine that meets ISO (International Organization for Standardization) requirements. Pharmaceutical laboratories as well as producers have a practical and economical substitute to pharmacopoeia primary standards in the form of certified pharmaceutical secondary standards for quality control.
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Key Findings of Market Report
- To address increasing demand of women, companies are incorporating taurine into hair care products. Firms are spending on research & development activities to develop taurine-based technologies that can be utilized to generate wavy looks even with absolutely straight hair, giving effects that remain for more than a month. Innovative hair products are assisting women in achieving natural hair movement sans compromising the fiber's integrity, whilst also improving the client experience in terms of fragrance and setting time.
- Secondary standards for pharmaceutical applications can be used for a variety of analytical purposes, such as food & beverage quality control testing, pharma release testing, and pharma process development for quantitative and qualitative analysis. Such breakthroughs are likely to assist in the growth of the global taurine market.
- Market stakeholders are creating a healthy relation with suppliers as well as ecosystem partners. They are using eCommerce to increase the usage of pet food, healthcare, and beverage products.
- Asia Pacific is expected to hold a prominent share of the global taurine market during the forecast period. Over the next few years, the taurine market in Asia Pacific is expected to grow at an accelerated pace. South Korea, India, China, and India are likely to emerge as attractive regions in the global market in the near future.
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Global Taurine Market: Growth Drivers
- Taurine producers are concentrating on mission-critical applications, including boosting the supply of pet food & beverages and healthcare products among pet-loving and health-conscious consumers.
- In 2020, the food grade taurine category led the global taurine market, and this pattern is expected to persist during the forecast timeframe. The global market is likely to be driven by increase in demand for taurine-based food items such as animal feed, drinks, and dietary supplements.
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Global Taurine Market: Key Players
Some of the key market players are
- Hubei Grand Fuchi Pharmaceutical & Chemicals Co., Ltd.
- Qianjiang Yongan Pharmaceutical Co., Ltd.
- Taisho Pharmaceutical Holdings Co., Ltd.
- Avanscure LifeSciences Pvt. Ltd.
- Atlantic Chemicals Trading GmbH
- The Honjo Chemical Corporation
Global Taurine Market: Segmentation
Type
- Food Grade
- Pharmaceutical Grade
Application
- Health Care Products
- Pet Food
- Beverage
- Others
Form
- Tablets/Capsules
- Liquid-based Serum
- Others
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