Amino Acid Market Estimated To Witness High Growth

Postado 2024-01-10 09:53:21

Market Dynamics:

The amino acid market is driven by increasing demand from the pharmaceutical industry. Amino acids find various therapeutic applications for conditions related to deficiency or insufficient intake of essential amino acids. Lysine and leucine supplements are prescribed for wound healing and muscle building respectively. Another key growth driver is increasing consumer preference for dietary supplements enriched with amino acids to complement regular diet and support overall wellness. The supplements industry has witnessed double digit growth in recent years boosting demand for amino acid ingredients.

SWOT Analysis

Strength: The amino acid market has high demand from various end-use industries such as pharmaceutical, food & beverage, and agricultural applications. Amino acid supplementation has numerous health benefits and is used in various dietary supplements which helps boost the market growth. They also find usage as feed additives to enhance growth and immune response in livestock.

Weakness: Stringent government regulations regarding the approval of new amino acid products may hamper the market growth. High R&D costs associated with the development of new amino acid drugs and feed additives can pose a threat to small players.

Opportunity: Rising health-consciousness among consumers is fueling the demand for functional food products fortified with amino acids. Increasing meat consumption especially in developing nations also presents an opportunity for amino acid suppliers to cater to rising demand from the animal feed industry. Growing demand for nutraceuticals containing amino acids provides new avenues.

Threats: Supply constraints of raw materials and volatility in their prices can adversely impact the amino acid market. Presence of substitute products such as plant-based proteins may limit the market scope to some extent.

Key Takeaways

The Global Amino Acid Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach USD 43 billion by 2030 from USD 30 billion in 2023, growing at a CAGR of 4.5%.

Regional analysis: North America dominates the global amino acid market and is expected to grow at a CAGR of 3% during the forecast period. This can be attributed to rising health awareness and increased spending on nutritional and dietary supplements in countries like the US and Canada. Asia Pacific exhibits the fastest growth and is estimated to witness a CAGR of over 6% during 2023-2030. China, India, and Japan are the major consumers in the region due to rising meat consumption and burgeoning feed industry.

Key players: Key players operating in the amino acid market are Ajinomoto Co., Inc., Global Bio-chem Technology Group Company Limited., Evonik Industries, Iris Biotech GmbH, KYOWA HAKKO BIO CO.,LTD., AJINOMOTO CO.,INC., etc. Ajinomoto Co., Inc. is the global market leader due to its wide product portfolio and strong distribution network across countries. Global Bio-chem Technology Group Company Limited has significant market share in Asia Pacific.