Description
Global
amino acid market size is estimated to reach 10.1 million tons by 2022, growing
at a CAGR of 5.6% from 2015 to 2022.
Global
rise in animal feed additives market demand coupled with growing livestock
production for meat consumption is anticipated to drive amino acids market over
the forecast period. They are used in feed additives to improve metabolism and
provide nutrition to animals such as pigs, cattle, and broiler which are
majorly used for meat consumption.
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Global
meat consumption was approximately 308 million tons in 2013 with gains
predicted at over 2% for the next five years.
Lysine,
methionine, threonine, and tryptophan are key animal feed additives. Growing
life expectancy, scarce availability of land and water resources for animal
feed production, and growing grain demand for food and ethanol production has
resulted in the meat industry looking to optimize feed utilization.
Rising
consumer awareness regarding feed additive benefits along with recent disease
outbreaks have resulted in a surge in demand. Meat quality has become an
important issue in countries worldwide, especially in North America and Europe.
The awareness among consumers preferring extrinsic quality attributes of meat
has increased, affecting the meat market globally.
Increasing
dietary supplement consumption as a source of protein is anticipated to drive
amino acids market demand over the next seven years. Changing lifestyle along
with rising awareness to maintain healthy diet is likely to drive dietary
supplements consumption.
Increasing
sports supplement consumption is projected to drive amino acids industry
growth. Sports supplements are mainly consumed by athletes and bodybuilders to
enhance their performance. Sports supplements, such as energy drinks, weight
loss pills, nutrition supplements, weight loss meals, low carbohydrate foods,
and nutrition bars, are gaining wide acceptance owing to high health benefits
and increasing consumer awareness.
Increase
in high intensity sweeteners demand from end-use industries, such as
convenience food and ready-to-drink beverages, is anticipated to remain a key
driving factor for aspartic market growth over the forecast period. Aspartame
is widely used in food & beverage industry as an artificial sweetener in
bakery products, cereals, syrups, fruit-based products and ready-to-drink beverages.
L-aspartic
acid is used for aspartame production. Global soft drink industry consumed
21,000 tons of aspartame in 2011, with estimates of 24,500 tons by 2016.
Aspartame combined with acesulfame K is also used in chewing gum production.
Increasing
amino acid prices coupled with raw material availability issues for soybean,
wheat and corn in recent times are expected to challenge industry participant
growth over the forecast period. Increasing investments in technology to
develop new process such as microfiltration to enhance yield may provide
potential opportunities for companies.
Product Overview
L-glutamate
dominated demand and was valued over USD 8 billion in 2014. It is widely used
as food additive and flavor enhancer in the form of its salt, known as
monosodium glutamate (MSG). L-glutamate is widely proffered in convenience
& processed foods owing to its excellent flavor enhancing abilities.
Lysine
market accounted for over 30% of the total demand in 2014, growing at an
estimated CAGR of over 6.0% from 2015 to 2022. Lysine is widely used as feed
additive for poultry production.
Methionine,
tryptophan and threonine are also widely used as animal feed additives and
together accounted for over 20% of total consumption in 2014. Tryptophan is
likely to exhibit higher growth rates of over 16% from 2015 to 2022.
Other
acids such as creatine, citrulline, tyrosine and proline are preferred in food
& dietary supplements.
Source Overview
Plant
sourced materials led amino acid production in recent times with market
valuation of over USD 15 billion in 2014. Plant based raw materials such as
corn, soybean and wheat are preferred among industry participants owing to
growing preference towards sustainable products.
Animal
based materials accounted for over 10% of the total demand in 2014 and are
anticipated to witness below average growth rates of over 3% from 2015 to 2022.
Meat meal and fish silage may witness sluggish growth rate owing to ban on bone
& meat meal in European region and growing consumer sentiments.
Application Overview
Animal
feed dominated the application segment and was valued over USD 8 billion in
2014. Increasing livestock production particularly in emerging regions is
likely to drive growth. Poultry production was the highest consumption of amino
acids in animal feed with a market valuation of over USD 3 billion in 2014.
Swine consumption of amino acid may witness higher growth rates of over 6% from
2015 to 2022.
Dietary
supplements accounted for over 40% of the total consumption in 2014 and are
expected to witness moderate growth rates of over 7% from 2015 to 2022.
Pharmaceutical applications are expected to witness above average growth rates
of over 8% from 2015 to 2022.
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Regional Overview
Asia
Pacific amino acids market was valued at over USD 8 billion in 2014, with
rising livestock production in countries such as China and India driving
demand. Increasing per-capita disposable income coupled with population
expansion is anticipated to increase meat consumption.
Europe
was the second largest regional market and accounted for over 15% of the total
demand in 2014. This region is anticipated to grow at a CAGR of over 4% owing
to shift of consumer preference towards convenience and processed foods due to
hectic lifestyles. North America market was valued over USD 3 billion in 2014
and is anticipated to witness moderate gains from 2015 to 2022.
Competitive Market Share
Global
amino acids market size is moderately consolidated with presence of multinational
companies and domestic manufacturers across the value chain. Key industry
participants in the global market include Cargill, Novus, Ajinomoto, ADM,
Evonik, DSM and Prinova.
Companies
such as Kemin Europa and DSM are fully integrated in the value chain and
utilizes raw material such as soymeal for production
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