Methionine Market is estimated to Witness High Growth Owing to...

Methionine Market is estimated to Witness High Growth Owing to Rising Consumption in Animal Feed Additives

Postado 2024-09-06 11:38:34

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The Methionine market comprises L-methionine which finds wide application as a nutritional additive in the animal feed and poultry industries due to its critical role as an essential amino acid. It helps promote growth, improve feed efficiency and gut health in animals. The global production of feed-grade methionine has witnessed strong growth over the past few decades as a result of intensive livestock farming practices worldwide. The growing demand for meat and dairy has promoted greater inclusion of amino acids in compound animal feed to boost productivity.

The Global Methionine Market is estimated to be valued at US$ 7.41 Bn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Methionine market include Adisseo, Ajinomoto Co. Inc., Anaspec Inc. (Eurogentec SA), Beijing Fortunestar SandT Development Co. Limited, Chongqing Unisplendour Chemical Co Ltd, CJ Cheiljedang Corp., Evonik Industries AG, IRIS Biotech GmbH, Novus International, Prinova Group LLC, Shijiazhuang Jirong Pharmaceutical Co. Ltd, Sumitomo, Chemical Co. Ltd, and Tokyo Chemical Industry Co. Ltd.

The rising demand for meat and poultry products globally due to increasing population and disposable incomes presents major Methionine Market Size Emerging economies in Asia Pacific and Latin America are expected to drive high consumption of livestock and aquaculture feed in the coming years.

Key players are expanding their global production capacities to meet the rising demand. For instance, leading player Ajinomoto Co. Inc. has expanded methionine production in Europe, North America, and Asia. Sumitomo Chemical Co. Ltd also aims to increase supply through ongoing expansion projects in China and Egypt. This ensures stable supply and global supply chain for customers worldwide.

Market Drivers

The Methionine Market Size And Trends for methionine is the increasing meat consumption globally. As the essential amino acid methionine helps improve growth performance in poultry and livestock, greater inclusion levels are being practiced in compound animal feed formulations. The intensifying industrialization of animal farming and expanding meat and aquaculture industries also necessitate higher use of methionine-enriched additives. Feed-grade methionine accounts for nearly 80% of global demand. Rapid economic development, rise of middle-class populations, and urbanization trends fuel greater consumption of nutrition-rich animal food products driving market growth.

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