Coherent Market Insights

Methionine Market to surpass US$ 7.39 Bn by 2031

Methionine Market to surpass US$ 7.39 Bn by 2031 - Coherent Market Insights

Publish In: Aug 14, 2024

Global methionine market to grow due to increasing demand from the animal feed & pharmaceutical industries, witnessing the development of advanced production technologies

The global Methionine Market is estimated to be valued at USD 4.98 Bn in 2024, exhibiting a CAGR of 5.8% over the forecast period (2024-2031). The demand for methionine is growing rapidly owing to its increasing use as a dietary supplement in animal feed industries. Furthermore, the methionine acts as a precursor to other important compounds in the body and finds wide application in pharmaceutical industries.

The global methionine market is primarily driven by the growing demand from animal feed industries worldwide. Methionine is an essential amino acid for poultry, swine and cattle. It helps in promoting growth, improving feed conversion rate and increasing protein deposition in animals. The rapid expansion of animal farming activities across major economies is positively impacting the methionine consumption. Additionally, advancements in production technologies are enabling manufacturers to develop higher purity methionine products through fermentation process. This is expected to meet the demand from various end-use segments more efficiently.

Increasing Demand from Animal Feed Industry

The global methionine market is primarily driven by the increasing demand from the animal feed industry. Methionine is a crucial amino acid required in animal nutrition as it helps in promoting growth and improving feed conversion rate in poultry and livestock. With the rising meat consumption across the world due to growing population and changing dietary preferences, the demand for methionine from the animal feed industry is increasing rapidly. Various government organizations and industry bodies have also recommended the inclusion of optimal levels of methionine in compound feed to support the healthy growth of animals. This growing need for methionine in compound feed formulations is a major factor positively impacting the market growth.

Rising Demand for Nutritional and Health Supplements

Another key driver for the methionine market is the rising demand for nutritional and health supplements infused with methionine. Methionine acts as a precursor for cysteine and taurine, both of which are important for heart and liver health. It also plays a vital role in synthesis of carnitine, creatine and lecithin in the human body. Increasing health awareness and preventive healthcare approach among consumers have boosted the demand for various methionine-based supplements for conditions like fatty liver disease, cardiovascular problems, neuropathy and joint discomfort. Many supplement manufacturers are introducing new methionine formulations to capitalize on this growing demand from the supplement industry.

Availability of Substitute Products

Limited availability of substitute products acts as a major restraint for the methionine market. Other amino acids like lysine, threonine, tryptophan, and valine can partially replace methionine in animal feed and supplements. These alternatives are comparatively cheaper and work efficiently for certain non-ruminant animals like poultry and fish. Growing acceptance of substitute amino acids in feed formulations, especially in cost-sensitive markets, poses a threat to the methionine market. Manufacturers have to focus on new product developments and applications to tackle the challenge of substitutes.

Stringent Regulatory Environment

Stringent regulatory environment pertaining to the production and use of methionine also restricts the market growth. Being a synthetic amino acid, methionine has to meet various safety and quality standards set by regulatory bodies like FDA and EU FAD. Frequent changes in these norms complicate manufacturing and compliance processes. Furthermore, certain end-use industries have specific regulatory controls over methionine content and approved levels. Navigating the complex legal framework requires significant investment of time and money from industry players.

Growth in Emerging Economies

Rapid economic development and rising disposable incomes in developing countries present significant opportunities for methionine market. Countries like China, India, Brazil, Mexico and others are witnessing rising meat consumption, improving livestock management practices and increasing health supplement usage. This growing demand from emerging markets can be effectively tapped by strategic expansions, partnerships and product localization efforts. For established as well as new entrants, these high-growth regions with improving policy environment offer lucrative prospects.

New Product Development

Constant development of novel methionine formulations for new applications also opens up potential opportunities. Areas like functional foods, medical nutrition, cosmetic peptides etc. are evolving rapidly. Tailored solutions infused with D-methionine, methylthio methionine and other value-added forms can capture additional demand streams. Companies investing in R&D are well-positioned to commercialize innovative methionine-based products catering to unmet needs. This helps offset competition and strengthens market presence with differentiated offerings.

Link - https://www.coherentmarketinsights.com/market-insight/methionine-market-5447

Key Developments:

  • In March 2024, Evonik announced the latest results from its global methionine trials, showcasing the efficacy and performance of its MetAMINO product. The trials, conducted across 19 different locations, demonstrated that similar animal performance was achieved when 100 units of methionine hydroxy analog products were replaced with just 65 units of MetAMINO.
  • In 2023, Adisseo announced the construction of a new powder methionine plant in China, further consolidating its leadership in the methionine industry. This strategic investment aims to enhance production capabilities and meet the growing global demand for high-quality methionine, a vital amino acid in animal nutrition.
  • In 2022, Evonik announced a significant expansion project at its manufacturing facility in Theodore, Alabama, aimed at enhancing its animal nutrition business.

Key Player:

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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