The aquaculture industry is the main driver of the methionine market's expansion. In the last 20 years, Asia has produced 89% of the world's seafood, according to the Food and Agricultural Organization's (FAO) 2020 report. The production of captured fish worldwide increased to 96.4 million tonnes in 2018, the largest level ever, thanks to marine and inland fishing. Again, rising consumer awareness of a healthy diet is anticipated to boost market expansion. As a result, meat is now consumed all over the world. The United States Department of Agriculture estimates that in 2021, 68.1 pounds of chicken and 56.2 pounds of beef were each available for human consumption in the country (on a boneless, edible basis). Increasing interest in environmentally friendly methods of methionine extraction is anticipated to present considerable potential prospects. The personal care and cosmetics industries are also expected sto benefit financially from the increased usage of methionine. Over the course of the projected period, an additional element boosting this market's expansion will be the growing senior population.
According to the Coherent Market Insights, with a forecasted compound annual growth rate (CAGR) of 9.3% from 2022 to 2030, the size of the worldwide Methionine Market was estimated to be USD 5.67 billion in 2021.
Key Competitors in the Methionine Industry:
1. Adisseo
The business was established in 1939 and its headquarters are located in China.The feed and food business is served by Adisseo's cutting-edge goods and services. One of the top animal nutritionists in the world. Adisseo promoted cutting-edge health practises for illness prevention in aquaculture at three scheduled events in Asia in 2022. Announced by ADISSEO with a capital increase in June 2021, a minority stake in Pigcham Pro Europe S.L.
2. Ajinomoto Co. Inc.
The corporate headquarters are situated in Ch, Tokyo. Ajinomoto Co., Inc. was created in 1909. The business makes spices, cooking oils, frozen meals, drinks, sweeteners, amino acids, medications, and interlayer insulating materials for semiconductor packages used in personal computers. In March 2022, Ajinomoto Co., Inc. invests in SuperMeat, a startup producing cultivated meat with the goal of creating a sustainable food system. In April 2021, Ajinomoto Co., Inc. was successful in creating a highly biodegradable substitute for plastic microbeads1.
3. Beijing Fortunestar S&T Development Co. Limited
The company was founded in 2004 and has its headquarters in Beijing, China. The company produces and distributes mineral salts and chelates as well as amino acids. It provides services for Food & Drink, Nutritional Supplements, Sports Nutrition, Baby Diet, Special Healthcare Treatment, Pharmaceuticals, Cosmetics, Pet supply, Animal Nutrition, and Plant Health.
4. Chongqing Unisplendour Chemical Co Ltd
The company was established in December 2000, with its headquarters in China. Chemical products are produced and distributed by Chongqing Unisplendour Chemical Co. Ltd. Iminodiacetonitrile, trimethyl orthoformate, and other related compounds are developed, produced, and sold by the company.
5. CJ Cheiljedang Corp.
Established in 1953, CJ Cheil Jedang is a firm with its headquarters in Seoul. The business makes pharmaceuticals, biotechnology, and food ingredients in ambient, frozen, and refrigerated packaging. Its primary business sectors are processed food, animal feed, logistics, biotechnology, and food ingredients.
6. Evonik Industries AG
The firm was established in 2007 and has its headquarters in Essen, Germany. Specialty chemicals are produced by Evonik Industries AG. In the areas of consumer goods, animal nutrition, and pharmaceuticals, the company offers a variety of items. In February 2023, Evonik invested in the expansion of a production facility producing fumed aluminium oxide for use in batteries in Yokkaichi, Japan.
7. Novus International
The business was established in 1991 and has its headquarters in St. Charles, Missouri. Amino acids, organic trace minerals, feed preservatives, and numerous nutrition and health items are among Novus' offerings. Veterinarians, pet owners, and experts in animal nutrition are among its clients. Agrivida, a biotech company, is acquired by Novus in order to create new feed additives in January 2023.
8. Evonik Industries AG
The business was established in 2007 and has its headquarters in Essen, Germany. Specialty chemical production is done by Evonik Industries AG. The business provides a variety of goods in the consumer goods, animal nutrition, and pharmaceuticals industries. In February 2023, Evonik will invest in the expansion of a production facility for fumed aluminium oxide for use in batteries in Yokkaichi, Japan.
Definition: A protein building block called methionine is necessary for the start of mRNA translation. Animal feed and pharmaceuticals are its principal uses. It is known to encourage muscle growth.
