Methionine Market is expected to reach USD XX Billion by 2027 from USD 6.22 Billion in 2019 at a CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Escalating meat consumption as a source of protein around the world is expected to be a key factor driving the methionine market. Countries such as China and India have been witnessing high meat consumption rate on account of changing food habits. Emergence of frozen meat, meat outlets and changing eating habits among consumers has prompted meat demand which is further expected to increase animal feed additive industry. Methionine is largely used in animal feed application and it is more efficient than fish powder.
Methionine market based on type is segmented into L-methionine, methionine hydroxy analog (MHA) and DL-methionine. DL-methionine type segment is expected to be one of the major contributors for the market of methionine. This is due to its several benefits such as reduced nitrogen excretions, support performance during heat stress and high antioxidant capacity.
Based on applications methionine market is segmented into animal feed, food & dietary supplements and pharmaceuticals. Animal feed segment is expected to hold one of the largest shares of the market for methionine during the forecast period. Growing concerns about food safety & feed safety and animal health & nutrition to provide a proper diet and feed intake to animal is driving the animal feed application segment.
Geographically, Asia Pacific is expected to be one of the largest markets for methionine during the forecast period. Growing consumption of animal based products and rising health issues are some of the factors expected to drive the market growth.
Methionine Market, by Type:
• L- Methionine
• methionine hydroxy analog (MHA)
Methionine Market, by Application:
• Animal Feed
• Food & Dietary Supplements
Methionine Market, by Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in the Methionine Market:
• Evonik (Germany)
• Adisseo (France)
• Novus International (US)
• CJ CHEILJEDANG (South Korea)
• Sumitomo Chemical (Japan)
• AJINOMOTO (Japan)
• Phibro (US)
• Prinova Group (US)
• Sunrise Nutrachem (China)
• Chongqing Unisplendour Chemical (China)
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