Global Lysine Market size is projected to be valued at USD 2.06 Billion by 2026 at a CAGR of 6.8% between 2020 and 2026. The demand for lysine is increasing with raising awareness of its health benefits. The natural ingredients and additives market has registered tremendous growth in the past few years, and the same trend is expected for the lysine market. Additionally, the North American and European markets are witnessing the growing demand for lysine.
The key players in the market have been responsive to shifting consumer preferences and are focused on strategic acquisitions, product launches, and partnerships. Moreover, the key players in the market are focusing on expanding their R&D capabilities. For instance, in February 2020, Ajinomoto Co., Ltd. announced the opening of the new Thai Technology and Engineering Center Building, which is located in Ajinomoto’s Ayutthaya Factory area. Investments in the market are projected to have a significant impact on the lysine market size during the forecast period.
Following are key players in Lysine Market
- Global Bio-chem Technology Group Company Limited (Hong Kong)
- Ajinomoto Co., Ltd. (Japan)
- Cheil Jedang Corp (South Korea)
- Archer Daniel Midland (ADM)
- Evonik Industries (Germany)
- COFCO Biochemical (Anhui) Co. Ltd. (China)
- Shandong Shaouguang Juneng Golden Corn Co. Ltd. (China)
- Changchun Dacheng Group (China)
- Sunrise Nutrachem Group (China)
- KYOWA HAKKO BIO CO., LTD. (Japan)
- Juneng Golden Corn Co., Ltd. (China)
- Penta Manufacturing Company (US)
- BANGYE Inc. (China)
- Shijiazhuang Shixing Amino Acid Co., Ltd. (China)
- Bajaj Healthcare Ltd. (India)
By Type, the market has been segmented into Lysine Hydrochloride, Lysine Monohydrate and Others.
By Grade the lysine market analysis has been segmented into feed grade, food grade and pharma grade. Due to its growing usage of animal feed, the Feed Grade segment held the largest Lysine market share in 2019. In corn-soybean diets for swine and poultry, feed grade lysine is a common amino acid. It's a low-cost, high-protein product that's used in animal feed.
By Form, the market has been segmented into powder, liquid, and granules.
By Application, the market has been segmented into food and beverage, Pharmaceuticals & Nutraceuticals, Animal Feed, and Personal Care. Animal feed refers to the food provided to domestic animals such as pigs, chickens, and other poultry. To increase the diets of farm animals, animal feed is processed on a wide scale. As a result, the diets of things like eggs, milk, and meat increase. As a result, the animal feed sector dominates the industry.
Increase in adoption of lysine market growth in animal feed
In recent years, the European lysine demand has expanded significantly. The emphasis on animal nutrition has shifted as European farmers have become more mindful of food safety and the European Commission has imposed more strict regulations. In addition, the increasing market for flavouring agents in the food and beverage industry is expected to boost lysine demand.
In 2019, Asia-Pacific led the global lysine industry, with China accounting for the vast majority of the market share. The widespread consumption of pork, chicken, and duck in China and Japan, as well as many other South-East Asian countries, is propelling the Asia-Pacific lysine market trends forward. During the forecast period, the Asia Pacific lysine market size is expected to be driven by the growing food and beverage industry, the demand for natural ingredients, and the meat consumption, to name a few factors.
Growth Opportunities in the Market
High Investments in R&D: R&D investments by the major manufacturers enhance the products, services, and technologies. For instance, manufacturers are incorporating new technologies to develop efficiency and effectiveness which includes encapsulation techniques. It is gaining massive acceptance among manufacturers. Encapsulation technology helps to improve its release and offer a longer shelf life by protecting it from the external environment. Research and development will lead to the formation of new products with improved quality and functionality by including better formulation
Rising demand for natural ingredients: Consumer focus on health and wellness has seen a rise in recent years owing to increasing incidences of lifestyle disorders such as cardiovascular diseases, obesity, osteoporosis, and diabetes. This has changed consumer food choices and perception of natural ingredients. Thus, rising consumer preference for natural and clean-label products is driving the demand for natural ingredients in the food & beverage as well as animal nutrition industry.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America