Amino Acids Market Is Projected To Be Around $31.77 Billion By 2022
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A research study titled, “Amino Acids Market by product Type - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Amino Acids Market Is Projected To Be Around $31.77 Billion By 2022.
In 2012, the global amino acid market was valued around USD 15.23 billion and is anticipated to reach approximately USD 31.77 billion by 2022, while maintaining a compound annual growth rate (CAGR) of 6.84% during the forecast period. 20% percent of the human body is constituted of protein. Protein acts as a crucial factor in roughly all biological processes whose building blocks are amino acids. Therefore, catering of amino acids impacts our bodies positively. The amino acid is a substance which is protein’s rich source. Thus they are utilized as food supplements of animal and human which boosts their productivity. An amino acid includes both an amino group and a carboxylic group. Amino acids which have an amino group linked to the alpha-carbon are concerned to alpha amino acids.
The global amino acids market is expected to witness substantial growth while registering a significant compound annual growth rate over the forecast period of 2012 to 2022. Nowadays a large number of factors are accountable for keeping our bodies away from receiving steady proteins supply. These factors involve pollution due to intensive use of fertilizers, burning of fossil fuels, etc. which creates a requirement to take additional protein supplements that boost the demand for amino acids. The rising consumption of meat, changing choices, and the growing concerns regarding animal disease outbreaks are the factors fueling the growth of global amino acids market. Animal feed is amongst the largest markets for the amino acid, in which it is used as an animal feed additive. Furthermore, amino acids assist in abbreviating the utilization of other unprocessed proteins, thus, considerably reducing the costs of feed and enhance the farm profitability, competitiveness, and productivity. The growing population in developing nations, along with the rising per person meat consumption, is anticipated to fuel the growth of the amino acids market.
The major industry players for the amino acids market are; Cargill Inc., Ajinomoto Co., Inc., Evonik Industries AG, Prinova U.S. LLC, Royal DSM, and ADM. According to the product type, the global market is classified as; Lysine, L-Glutamate, Methionine, Tryptophan, Threonine, Iso-leucine, Valine, Leucine, Arginine, Glutamine, Phenylalanine, Glycine, Citrulline, Creatine, Serine, Tyrosine, Proline, and Others. On the basis of the source, the market is divided into; Plant-based and Animal based. By application, the market industry is split into; Animal Feed: Poultry, Swine, Cattle, and Others; Food & dietary supplements; Pharmaceuticals. Geographically, the global amino acids market is segmented into regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key findings of the amino acids market
- In 2014, the animal feed was the top application section and reported for 52.5% of the overall market volume. Lately occurred disease outbreak has encouraged the amino acids to demand in animal feed, which is anticipated to fuel this segment. Also, global amino acids demand in pharmaceuticals is expected to maintain a growth of 5.6% over the forecast period.
- In 2014, Asia Pacific ruled the global amino acids industry and reported for 49.4% of overall demand. Rising livestock production, especially in South East Asian nations, is anticipated to fuel the regional market during the forecast years.
- Asia-pacific is followed by Central & South America, which is projected to experience the top growth of 6.5% over the forecast period. Growing consumption of meat along with rising health awareness mainly in Brazil is likely to boost the regional market growth.
- Key players of this market include Cargill Inc., Ajinomoto Co., Inc., Evonik Industries AG, Prinova U.S. LLC, Royal DSM, and ADM.