Newark, NJ, Jan. 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global amino acids market is expected to grow from USD 23.01 billion in 2020 and to reach USD 43.55 billion by 2028, growing at a CAGR of 8.3% during the forecast period 2021-2028.
The global amino acids market has witnessed significant growth in recent years. This growth is attributed to the high amount of nutritional benefits associated with amino acids, high levels of consumption of meat and meat products, increasing levels of feed additives consumption, and growing consumer awareness regarding natural and organic products. The increasing preferences of amino acids towards bio-based products and usage in the development of human muscles and the nervous system's proper functioning will propel the demand for amino acids.
The building blocks of proteins that forms a significant part of both human and animal nutrition are known as amino acids. They are found in abundance in seafood, eggs, red meat, dairy products, soy products, and quinoa. Amino acids are beneficial for fighting arthritis, strengthening the immune system, and treating tinnitus and rectal diseases. They are used in various body functions, ranging from repairing the body, breaking down food, enhancing growth, and others.
The global amino acids market is expected to witness significant growth, owing to the rising demand for nutrition-rich food products, increasing health-consciousness among the consumers, and increasing demand for amino acids from pharmaceutical, food, and nutraceutical industries. The factors hampering the market growth include growing rates associated with the raw materials and inconsistent supply of major raw materials. Higher amino concentrations and availability in plant-based raw materials such as soybean, wheat, and corn are gaining popularity.
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The key players operating in the global amino acid market are Fufeng Group, Ajinomoto Co. Inc., ADM, Cargill, Taiwan Amino Acids Co. Ltd, Sumitomo Chemical, and Evonik AG. To gain a significant market share in the global amino acids market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in November 2017, Ajinomoto Co. Inc. announced acquisition Cambrooke Therapeutics Inc. with major share through their own subsidiary “Ajinomoto North America”. This acquisition will help the Ajinomoto Co. Inc. to enter into medical fields market and produce their own original ingredients.
Plant-based segment dominated the market and held the largest share of 57.3% in the year 2020
On the basis of source, the global amino acid markets is segmented into plant-based and animal-based. Plant-based segment dominated the market and held the largest share of 57.3% in the year 2020. This growth is attributed to the rising preference for vegan and sustainable products. Animal-based segment is expected to witness significant growth, owing to the rising meat consumption across the globe.
L-glutamate segment dominated the market and held the largest share of 29.66% in the year 2020
On the basis of product, the global amino acid market is segmented into glutamine, lysine, methionine, tryptophan, valine, leucine, iso-leucine, threonine, arginine, l-glutamate, and others. L-glutamate segment dominated the market and held the largest share of 29.66% in the year 2020. This growth is attributed to the increasing demand for processed food and rising product penetration in animal feed. Lysine segment is anticipated to witness significant growth, owing to the increasing demand for dietary supplements.
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Regional Segment of Amino Acids Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global amino acids market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific segment holds the major share of 27.9% in the year 2020. This growth is attributed to the growing adoption of a healthy lifestyle, increased consumer spending, and expansion of industries like pharmaceuticals, personal care, cosmetics, and nutraceuticals. In the region, China and Japan hold the largest market share, as they are primarily used to treat liver and cardiovascular disorders. Europe is anticipated to witness significant growth, owing to the growing use of animal feed additives that contains amino acids like methionine, threonine, and lysine for improving animal growth and increasing demand for high-quality meat and meat products. Germany, the U.K., and France hold the largest share due to increased meat consumption.
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About the report:
The global amino acids market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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