METHIONINE MARKET ANALYSIS
The global methionine market is estimated to be valued at USD 4.98 billion in 2024 and is expected to reach USD 7.39 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
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The global methionine market has been witnessing steady growth owing to the rising demand for nutritious and healthy foods from the animal feed industry.
Market Driver - Growing demand for animal feed additives
Methionine has become a key ingredient that is increasingly being added to animal feed across the globe. As livestock farmers aim to enhance the productivity of their animals and maximize meat and milk yields, they are turning to methionine as an effective feed additive. Methionine plays a vital role in protein synthesis, fat deposition, and absorption of other nutrients in animal bodies. Its supplementation in feed rations helps animals to gain more weight in lesser time which benefits farmers economically.
The rising demand for meat and dairy products from the growing global population has ramped up pressure on farmers to produce more from their livestock. This has heightened the need to formulate highly nutritious and high-performance animal feeds. Methionine fits the bill perfectly as regular addition of methionine to poultry, swine and cattle feed yields significant increases in weight gain, protein deposition, and lean tissue growth. Various studies have demonstrated the impacts of methionine fortified feeds in boosting production outputs from animals. For example, supplemental methionine leads to 5-10% more egg production in layers and around 10% more meat yield in broilers. Similarly, methionine enhances milk production in dairy cows.
As a result of these proven production boosting properties, methionine consumption in animal feed is witnessing strong worldwide growth trends. Especially in rapidly industrializing regions like Asia Pacific and Latin America where livestock farming is being intensified, farmers are actively trying methionine to push the boundaries of meat, eggs and milk yields to meet burgeoning protein demands. Even in developed regions of North America and Western Europe, methionine remains an important nutritional strategy for livestock producers to enhance livestock productivity and farm profitability in this competitive business environment. Therefore, the mounting reliance on methionine as a feed supplement to help drive higher outputs from poultry, swine and cattle is a major factor propelling the ongoing expansion of the global methionine market.
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Increasing Meat Consumption Globally
Rising incomes and growing urbanization are driving significant shifts in dietary habits and food preferences across the world. One of the most visible consumption patterns is the swelling demand for meat, with people increasingly incorporating more meat dishes and protein foods in their diets. Changing lifestyles are making consumers more receptive to convenience foods with high protein content. Rapidly developing countries like China and India that have large populations are actively adapting to Western diets rich in meat and other animal products.
Fueling the mounting worldwide appetite for meat is also the escalating the demand for processed meat products in fast growing segments like packaged foods, foodservice, and restaurants. Consumers have less time to spend on cooking which is stimulating the demand for ready-to-eat or heat-and-eat meat items. With growing international trade in meat commodities, people now have greater accessibility and exposure to diverse meat varieties from other cultures. This "westernization" and "internationalization" of diets is significantly elevating baseline global meat consumption levels. Regions like the Middle East and Africa that have traditionally been low meat consumers are also steadily raising their meat intake as urban middle-class populations’ rise in these areas.
The unrelenting growth in worldwide meat demand necessitates constant expansion of the primary production of meat sources like poultry, pork, and beef to satisfy consumers. It is driving heavy investments in livestock farming infrastructure and implementation of technologies and management practices to boost meat outputs per animal. A crucial part of enhancing animal protein productivity involves optimizing the quality and efficiency of animal feed rations. Methionine plays an important role as a feed additive in helping livestock farmers to produce more meat to meet surging global demand trends while maintaining profitable operations.
Key Takeaways from Analyst:
The rising demand for meat and poultry products will be a key driver as methionine is widely used as a dietary supplement in animal feed. North America currently dominates the market owing to consumer of meat.
High prices of methionine may limit its use as an alternative to restrict growth. The ban on antibiotic growth promoters by the EU also opens opportunities for methionine as a replacement. North America is forecasted to exhibit considerable expansion fueled by the growing organic livestock industry in countries like the U.S. and Canada. However, regulations regarding the inclusion rate of methionine in feeds may pose a challenge. On the other hand, growth in Latin America will be supported by increasing meat consumption in Brazil and Argentina.
Methyl mercaptopropionic acid represents an affordable substitute and therefore a threat. Government support for the poultry and aquaculture industries in various Asian nations can further boost prospects. Rising awareness about the importance of nutrition for animal health is encouraging wider acceptance of methionine-enriched pet food varieties as well. Overall, the global methionine market appears well positioned to thrive over the next decade based on the indispensable role of the amino acid in animal protein production.
Challenge: Availability of substitutes
The global methionine market is facing significant challenges due to the availability of substitute products in the recent years. One of the major substitutes for methionine includes lysine, which is also an essential amino acid required for poultry and swine nutrition. The demand for lysine has been increasing at a higher pace as customers perceive it as a better and more economical alternative. Moreover, the production of lysine is less complex than methionine and the manufacturing costs are also lower. This has incentivized several livestock farmers to shift from methionine to lysine. Furthermore, new substitute products containing alternative nutrients are being introduced by various startup companies. These new innovations claim to achieve similar benefits as methionine but at lower prices. Unless the existing players introduce innovative formulations and differentiate their products, it will be difficult to retain existing market share and attract new customers.
Opportunity: Emerging markets of Asia Pacific & Latin America
The global methionine market sees tremendous opportunities in the emerging countries of Asia Pacific and Latin America regions. These economically developing nations have a growing population and rising disposable incomes. This translates to an increasing demand for meat and meat products over the coming years. Since methionine is a crucial nutrient for poultry and swine farming, its consumption is expected to shoot up simultaneously. Both the regions have traditionally been large importers of meat but are now looking to boost domestic production. This is encouraging significant investments into livestock infrastructure and operations. International methionine manufacturers can capitalize on this situation by partnering with regional farmers and strengthening supply chains. Penetrating these new high potential markets in the early growth phase will help gain a competitive advantage. It can also open avenues to capture a major share of the global methionine demand in the foreseeable future.
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Insights by product type: Wide range of applications
In terms of product type, the DL-Methionine segment is expected to contribute 54.2% share of the market in 2024. DL-Methionine accounts for the largest share in the global methionine market due to its superior functional properties compared to the other product types. DL-Methionine is highly stable and heat resistant, making it suitable for use in high temperature processes in various end-use industries such as animal feed production. It is highly palatable and digestible for animals, ensuring maximum nutrient absorption. This leads to better growth and health of livestock. DL-Methionine also helps in retaining and building lean body mass in animals. Furthermore, it is very cost-effective in comparison to other methionine variants. Due to these advantages, DL-Methionine sees rising demand from the rapidly growing animal feed industry. The rising consumption of meat and poultry worldwide is further propelling the animal feed production, driving the DL-Methionine market.
Insights by application: Rising meat consumption
In terms of application, the animal feed segment is expected to contribute 68.8% share of the market in 2024. Within the application segments of the global methionine market, animal feed emerges as the largest and fastest growing end-use industry. Methionine plays a vital nutritional role in animal diets by promoting growth, weight gain and feather development in poultry. It also improves fur/skin quality in swine and supports milk production in cattle. With rising meat consumption worldwide owing to population and income growth, there is increasing demand for animal proteins. This necessitates higher feed production to meet the nutrition requirements of livestock and poultry. Methionine becomes an essential feed additive to maximize feed conversion efficiency and ensure optimum health of the animals. Many farmers are using methionine supplements prudently to gain edge in terms of productivity and profitability. This growing demand from the animal feed segment continues to drive the global methionine market.
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North America dominates the global methionine market. The region is expected to account for 39.6% of the estimated market share in 2024. The large-scale presence of various poultry and animal feed producers has cemented North America's leadership position. With the U.S. being one of the largest consumers of meat globally, the demand for high-quality animal feed and feed additives such as methionine remains robust. Additionally, North America is a proponent of advanced animal husbandry practices and novel feed technologies, creating sturdy demand for specialized nutrients including methionine. The region also has a well-established import and distribution network, allowing international methionine suppliers to easily cater to the demand.
The Asia Pacific region has emerged as the fastest expanding market for methionine globally in recent times. Countries like China and India possess enormous livestock industries and are progressively adopting modern meat production techniques. Rapid economic development and westernization of diets have majorly pushed the consumption of meat products. The growing meat consumption is encouraging massive investments in local animal agriculture. Local players are setting up large-scale manufacturing facilities to fulfill the methionine needs of domestic ranchers and export surplus production. Several international producers are also expanding their footprints in the region through acquisitions, collaborations or new Greenfield projects. Major importers like Japan and South Korea are additionally aid the Asia Pacific market growth. The regional demand is expected to surge further as consumers' protein intake continues to elevate.
Methionine Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 4.98 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 5.8% | 2031 Value Projection: | US$ 7.39 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Evonik, Adisseo, Novus International, CJ CHEILJEDANG, Sumitomo Chemical, AJINOMOTO, Phibro, Prinova Group, Sunrise Nutrachem, Chongqing Unisplendour Chemical, Zhejiang NHU Co., Ltd., Ningxia Eppen Biotech Co., Ltd., Sichuan Hebang Biotechnology Co., Ltd., Shandong Kyowa Amino Acid Co., Ltd., Meihua Holdings Group Co., Ltd., Tokyo Chemical Industry Co. Ltd, and IRIS Biotech GmbH |
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| Restraints & Challenges: |
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*Definition: The global methionine market covers the sales and production of methionine, which is an essential amino acid used as a dietary supplement and animal feed additive. Methionine is a white, water-soluble crystalline powder that helps promote growth in animals and prevent liver disease. It is primarily used as a supplement in poultry and swine feed to increase production and improve feed efficiency. The global methionine market is expected to grow significantly in the coming years due to the rising demand for meat and poultry from the growing world.
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About Author
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
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