The increasing demand from the pharmaceutical sector, the elevated consumption of animal-based products, and the rising health concerns have resulted in boosting the methionine market.
New York, NY -- (SBWIRE) -- 04/28/2021 -- The global Methionine Market is forecast to reach USD 5,940.9 Million by 2028, according to a new report by Reports and Data. Methionine is a naturally occurring amino acid and the only one that contains sulfur. It serves as an antecedent for all other sulfur-containing amino acids and the derivatives. The market is projected to witness a stable growth during the forecast period.
A study has indicated the fact that the amino acid, when used as a supplement in rodents, provides protection from gamma-radiation-induced-global DNA hypomethylation and enhances methylation levels. Such positive results associated with the use of the acid as a supplement would, in turn, elevate its demand from the food and dietary supplement sector. In the human body, it is associated with minimizing risk of ovarian & rectal cancer among women and & proximal colon cancer in men. In the liver, amino acid is adenosylated and followed by which it is converted to s-adenosyl methionine (SAM). A diet that is deficient of the amino acid result in minimizing cellular adhesion and increased gene expression & apoptosis rate. Thus, it is due to the vital role it plays in human body and that results in its increased demand and associated market growth.
In regards to region, North America occupies a prominent market position. The market position held by North America is resultant of the presence of a well-established pharmaceutical sector, and continuous focus on cancer research, which is resulting in the increased demand for amino acids in this region.
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Further key findings from the report suggest
The methionine market held a market share of USD 3,952.0 Million in 2020. It is projected to witness a growth rate of 5.20% during the forecast period.
In context to Product Type, the DL-Methionine segment generated the highest revenue of USD 2.12 Billion in 2018, with a CAGR of 4.8% during the forecast period. Factors like its extensive application in the pharmaceuticals and dietary supplements sectors because of its traits like high antioxidant capacity, along with its advantages like reduced nitrogen excretions and performance supported during heat stress, contributes to the revenue generated by this segment.
In regards to Raw Material, the Plant-based segment generated a higher revenue of USD 2.61 Billion in 2018, with a CAGR of 4.9% during the forecast period. The revenue generated by the Plant-based segment is resultant of the raising awareness about environmental concerns associated with animal-based products like sixth mass extinction and consequential elevated demand for bio-based products.
In the context of Application, the Animal Feed segment occupies the largest market share of 79.0% in 2018, with the fastest growth rate of 5.0% during the forecast period. The market share held by the Animal Feed segment is attributed to increasing awareness about livestock health, and occurrences of animal disease outbreaks that have boosted the use of the amino acid in the diet of animals to enhance the nutritional value.
In regards to region, Europe occupies the second-largest market share of0% in 2018, with a CAGR of 4.5% during the forecast period. The market share held by Europe is the resultant of increasing geriatric population and rising demand for dietary supplements in this region.
Key participants include Novus International, Evonik, Adisseo, Sumitomo Chemicals, CJ Cheiljedang, Phibro, Ajinomoto Co., Inc., Sunrise Nutrachem Group, Prinova Group LLC and Chongqing Unisplendour Chemical.
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For the purpose of this report, Reports and Data have segmented the methionine market according to Product Type, Raw Materials, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Methionine Hydroxy Analogue (MHA)
DL-Methionine
L-Methionine
Raw Material Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Animal-based
Plant-based
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Food & Dietary Supplements
Animal Feed
Pharmaceuticals
Regional Outlook (Revenue in USD Billion; 2017–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Methionine Market Segmentation & Impact Analysis
4.1. Methionine Market Segmentation Analysis
4.2. Industrial Outlook
………….
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Novus International
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Evonik
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Adisseo
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Sumitomo Chemicals
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. CJ Cheiljedang
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Methionine market and its competitive landscape.
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