Methionine Market - Global Industry Analysis

Description

Table Of Content

Methodology

Free Analysis

Methionine is an amino acid that contains sulfur. It is used as a precursor in the production of other proteins and is one of the essential amino acids for normal growth and development in humans, avian species, and other mammals. There are three types of methionine: L-Methionine, MHA, and DL-Methionine. DL-Methionine is generally produced by chemical synthesis from acrolein, methyl mercaptan, and hydrogen cyanide. Additionally, the various grades of methionine are feed grade, pharmaceutical grade, etc.

Methionine market is anticipated to grow at a fast pace in the upcoming years, owing to the global increase in meat consumption. The rising population in developing countries, such as India, China, and Brazil, is expected to boost the usage of methionine in poultry products, which, in turn, will propel the methionine market expansion on a global level. Moreover, methionine has steadily replaced the fish powder, as it is more efficient than fish powder. In addition, growing application of methionine in the supplement for ruminants and piglets, especially in China, is further projected to fuel the methionine market growth in the next few years. However, the harmful effects of raw materials used in the methionine production might hamper the methionine market. Surging demand for bio-based materials due to their sustainability and environment-friendliness over synthetic materials is also estimated to fuel the demand for bio-methionine, thereby boosting the expansion of this market.

Methionine market is segmented based on type and application. By type, the methionine market is fragmented into L-methionine, MHA, and DL-methionine. DL-methionine is dominating the market and estimated to sustain its dominance over the forecast time period, due to the growing application of DL-methionine in the pharmaceutical, food processing, and animal husbandry sectors. By application, this market includes animal feed, food and dietary supplements, and pharmaceuticals. Animal feed is the most dominating application due to the growing consumption of meat globally. Surging demand for meat is increasing the demand for production of poultry, which is encouraging the farmers to increase the usage of amino acid in the animal diets for improving farm productivity, which, in turn, is further expected to fuel this market.

The geographic analysis of the global methionine market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific held a major share of the global methionine market in 2017. The growing economy and region’s rising population are likely to propel the application of methionine in the pharmaceutical and animal feed sectors. Additionally, the consumption rate of meat is increasing in China, India, and Vietnam, which is further expected to boost the use of methionine in the region over the estimated time period.

The global methionine market includes several end-players, such as Evonik, Novus International, Arkema, Chongqing Unisplendour Chemical, Sumitomo Chemicals, CJ Cheiljedang, Sunrise Nutrachem Group, Prinova Group LLC, Phibro, and Adisseo among others.