An amino acid is a type of organic acid that contains carboxyl functional group and an amine functional group as well as a side chain that is specific to the individual amino acid. Amino acids play central roles both as building blocks of proteins and as intermediates in metabolism. Amino acids are considered to be the building blocks of polypeptides and proteins. Amino acids may function on their self but more commonly act as monomers to form larger molecules. Amino acids are used to build a variety of molecules and are used in neurotransmitter and lipid transport.
Figure 1: Global Amino Acid Market by Value 2015-2023
The global amino acid market was sized over USD 4.88 billion in 2015. The global amino acid market is projected to grow with a CAGR between 6.0% and 6.5% during 2017-2023. Increasing animal feed additive demand on account of regulating metabolism in livestock production owing to growing meat consumption is the prime factor driving the global amino acid market. Moreover, growing health consciousness among the consumers and shifting trends towards the dietary supplements consumption for protein intake will drive the amino acid market across the globe over the forecast period. Furthermore, increasing demand for the products of amino acid from food & beverages industry such as I-glutamate due to its flavor enhancement properties is also anticipated to drive the global amino acid market over the forecast period. However, increasing raw material prices and lack of awareness among consumers from underdeveloped region are the key factors restraining the growth of amino acid market globally. Nevertheless, high demand of amino acid from expanding applications such as pharmaceutical, cosmetics, food & beverages and nutritional supplements industry as well as adoption of modern technologies for manufacturing amino acids by the manufacturers will bring more opportunities to the global amino acid market. Hence, tight supply of raw material such as corn, soybean and wheat is likely to pose a challenge to growth of global amino acid market over the forecast period.
The report segments the amino acid market by product type, by source, by application and by region. Market segmentation based on product type includes L-glutamate, lysine, methionine, tryptophan, threonine, glutamine, valine, creatine, proline, serine and others. Moreover, the global amino acid market based on source is segmented into plant based and animal based. Furthermore, based on application the market is segmented into animal feed, food & dietary supplements, pharmaceutical and others. The animal feed application segment is further classified as swine, poultry, cattle and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Amino Acid Market by Region
Asia Pacific dominated the world amino acid market in terms of production and is likely to continue its dominance over the forecast period due to presence of key players and maximum amount of pork is being exported by the region especially from China. Moreover, Asia Pacific is anticipated to grow at a highest CAGR rate over the forecast period due to increasing population coupled with disposable income and up-gradation of lifestyle with increasing demand for nutritional & protein supplements. North America and Europe are the second largest market for amino acid following the Asia Pacific. Europe is likely to witness moderate growth due to increasing demand from food and dietary supplements. Furthermore, North America is expected to grow at a substantial rate due to rising obesity and increasing awareness among youngsters as well as shifting trend towards the bodybuilding coupled with rising demand for protein intake especially in U.S and Canada. However, Latin America amino acid market is also likely to witness a significant growth rate owing to major beef exports especially from Brazil.
The companies covered in the report include Ajinomoto Group, RSP amino acids, Biaffin, AnaSpec, ChemPep Inc., IRIS Biotech, PepTech Corp., Archer Daniels Midland Company, Cargill Inc., Evonik Industries AG, Fufeng Group Company Ltd., Sunitomo Chemical Company Ltd., Royal DSM, Novus International Inc., Amino GmbH and Kyowa Hakko Bio Company Ltd.
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