The Global Amino Acids Market is expected to reach USD 35.40 billion by 2022, according to a new study by Grand View Research, Inc. Global increase in livestock production on account of increasing meat consumption is expected to remain a key driving factor for amino acids market over the next seven years. Increase in dietary supplements demand owing to growing geriatric population and improved health standards particularly in emerging markets of Asia Pacific and Latin America is also expected to have a positive influence on the market growth. Increase in flavor enhancing products such as aspartame derived from l-aspartic acid and phenylalanine owing to increasing food & beverages consumption is expected to fuel market growth further. Steady supply of key raw material is expected to remain a key challenge for market participants over the forecast period.
L-glutamic acid emerged as the leading amino acid product segment and accounted for over 40% of total market volume in 2014. Lysine, threonine, methionine and tryptophan are majorly consumed feed additives for livestock production. Tryptophan is expected to be the fastest growing amino acid with an estimated CAGR of 18.0% from 2015 to 2022. Ban on bone meal across various regional markets is expected to remain a key driving factor for this segment over the forecast period.
Global Amino Acids Market Volume By Product, 2012-2022 (Kilo Tons)
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Further key findings from the study suggest:
- Global amino acids market demand was 6,582.0 kilo tons in 2014 and is expected to reach 10,117.5 kilo tons by 2022, growing at a CAGR of 5.6% from 2015 to 2022.
- Plants were the leading source for manufacturing amino acids and accounted for 86.0% of the total market volume in 2014. Animal based amino acids are expected to grow at an estimated CAGR of 4.0% from 2015 to 2022.
Animal feed was the leading application segment and accounted for 52.5% of the total market volume in 2014. It is also expected to witness the highest growth of 6.2% from 2015 to 2022. Recent disease outbreak has prompted the demand for amino acids in animal feed, which is expected to drive this segment. Global amino acids demand for pharmaceuticals is expected to register a growth of 5.6% from 2015 to 2022.
- Asia Pacific dominated the global amino acids market and accounted for 49.4% of total demand in 2014. Increasing livestock production particularly in China, India and South East Asian countries is expected to drive the regional market over the forecast period. Central & South America is expected to witness the highest growth of 6.5% from 2015 to 2022. Increasing meat consumption coupled with growing health awareness particularly in Brazil is expected to drive the regional market.
- Global amino acids market is highly competitive with presence of large scale and small scale companies. Some major companies operating in the global amino acids market include Ajinomoto Co., Cargill Inc., Evonik Industries AG, ADM, Prinova U.S. LLC, Royal DSM. Other industry participants include Iris Biotech GmbH, Nanjing Liang Chemical, Sunrise Nutrachem Group, Tokyo Chemical Industry, Novus International Inc., Anaspec Inc., CJ Cheil Jedang Corporation and Adisseo France SAS.
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