USD 5.67 billion
Global Methionine Market Size, Share, Growth Analysis, By Raw Material(Plant-Based, Animal-Based), By End-User(Animal Feed, Poultry), By Type(L- Methionine, MHA) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2289 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
91 |
Figures:
76
Global Methionine Market Insights
Methionine Market size was valued at USD 5.67 billion in 2019 and is poised to grow from USD 6.2 billion in 2023 to USD 11.51 billion by 2031, growing at a CAGR of 9.3% in the forecast period (2024-2031).
Increasing meat consumption as a major source of protein and continuously growing populations around the world are major factors projected to drive growth of the global methionine market during the forecast period. Developing countries including China, India, and Indonesia is witnessing rapid growth in the consumption of meat products due to the change in consumer food habits, rising popularity of frozen meat products, and wide presence of meat outlets is also likely to propel the market growth over the coming years.
Furthermore, rising concerns regarding animal diseases have also attracted manufacturers to add animal feed additives like methionine in their meat product offerings to improve the nutritional value and reduce disease concerns. Growing consumer awareness and increased living standards of consumers around the world are also resulting in high consumption of meat products, and in turn, the global demand for methionine is having significant growth. According to our findings, the global consumption of meat has reached a value of 328 million metric tons in 2019. And, between 1990 to 2021, the overall consumption of poultry increased from 34.6 million metric tons to over 132 million metric tons globally.
Moreover, rising prevalence of sports supplements owing to increasing consumption by athletes and bodybuilders for enhancing their performance, is further anticipated to boost the global methionine market over the forecast period. Various health supplements including energy drinks, nutrition supplements, low carbohydrate foods, and nutrition bars are having huge popularity and acceptance owing to their several health benefits and rising consumer awareness across the globe.
US Methionine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Plant-based
Fastest Growth
Plant-based
Growth Rate
9.3% CAGR
Global Methionine Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Methionine Market By Raw Material ($ Bn)
Global Methionine Market By Raw Material (%)
To get more reports on the above market click here to Buy The Report
Global Methionine Market Segmental Analysis
Methionine Market is segmented on the basis of type, end-user, raw material, and region as well. By raw material, the Methionine Market is segmented into plant-based and animal-based. By end-user, the Methionine Market is categorized into animal feed, poultry, food & dietary supplements, pharmaceuticals, and others. By type, the Methionine Market is segmented into L- Methionine, MHA, DL-Methionine. By region, the Methionine Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Methionine Market Analysis by Raw Material
By raw material, the plant-based segment dominated the market and accounted for a significant market share in 2021. Rising consumer preferences for bio-based products, increasing number of environmental concerns, and technological advancements are the major factors driving growth during the forecast period. In addition, easy availability of raw materials involved in the manufacturing process of plant-based methionine such as wheat, seaweed, and soybean meal around the world is also contributing significantly to the growth of the segment. According to a research conducted on methionine, it has observed that vegetarian food sources provide higher ratios of methionine in the blood concentrations as compared to non-vegetarian food sources.
Methionine Market Analysis by End-User
By end-user, the animal feed segment held the largest market share in 2021 and is projected to maintain its dominance throughout the forecast period. Increasing rate for maintaining metabolism rate in livestock and increased global consumption of meat products are the major factors anticipated to propel the segment growth over the coming years. In addition, rising investments by major market players to formulate superior quality animal feeds and strengthen their market position is also fueling the global demand for the segment at a significant rate.
Moreover, food & dietary supplements segment is witnessing fastest CAGR during the forecast period owing to increasing consumer disposable income and rising health awareness especially in developing nations including China, India, and Brazil. Additionally, an extensive rise in the demand for energy drink and energy bars in developed countries such as the United States, France, and Germany is likely to boost the growth of the segment in the coming years.
Global Methionine Market By Raw Material, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Methionine Market Regional Insights
Globally, Asia Pacific dominated the methionine market with a holding of significant market share in 2021 and is set to continue its dominance throughout the forecast period. Changing food habits, rising per capita income, and high adoption of meat products as a health supplement are the major factors projected to fuel the demand for methionine in the region. China’s methionine market is growing faster than the global average owing to the rapidly growing demand for meat products from China’s middle-class people. This can be simply attributed to the wide usage of animal feed in livestock and farming industries in the country.
Furthermore, North America is anticipated to grow at fastest CAGR during the forecast period owing to high technological advancements, rising prevalence of obesity and cardiovascular diseases, and growing number of athletes and bodybuilders in the region. In addition, high dependence on animal-based diet and largely rely on the non-vegetarian food products has led to growing consumption of methionine in the regional market.
Global Methionine Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Methionine Market Dynamics
Methionine Market Drivers
- Several health benefits offered by methionine including cleaning hair, preserving cells from contaminants, decelerating the aging, and minimizing cholesterol levels in the body are driving growth of the global methionine market during the forecast period. In addition, increasing research & development activities on creating more advanced and improved methionine products by various market players are also likely to be the key driving factor for the market growth over the coming years.
Methionine Market Restraint
- Continuously growing energy prices and shortage in raw materials for the larger production of methionine are the major factors estimated to hinder the global methionine market growth over the forecast period. Moreover, increasing number of campaigns and programs promoting vegetarian lifestyle and slowing down the consumption of meat products are projected to hamper growth of the global market.
Request Free Customization of this report to help us to meet your business objectives.
Global Methionine Market Competitive Landscape
The global methionine market is highly consolidated with the existence of several international and regional market players around the globe, with top 5 players of global market accounted for more than 80% of the market share in 2021. Major players of the market are implementing on several business strategies such as collaborations, new product launches, acquisitions, and partnerships for the expansion of their geographical presence and product portfolio.
Methionine Market Top Player’s Company Profiles
- Evonik Industries AG
- CJ CheilJedang Corporation
- Adisseo France SAS
- Novus International, Inc.
- Sumitomo Chemical Co., Ltd.
- Bluestar Adisseo Co., Ltd.
- Ajinomoto Animal Nutrition Europe
- Global Bio-chem Technology Group Company Limited
- Meihua Group International Trading (Hong Kong) Limited
- Sunrise Nutrachem Group Co., Ltd.
- Archer Daniels Midland Company
- Phibro Animal Health Corporation
- Jinzhou Jirong Amino Acid Co., Ltd.
- Chongqing Unisplendour Chemical Co., Ltd.
- Nippon Soda Co., Ltd.
- CJ BIO Corporation
- Puyer (Nantong) BioPharma Co., Ltd.
- Hubei Guangji Pharmaceutical Co., Ltd.
- Gulf Petrochem Group
- Nagarjuna Agrichem Limited
Methionine Market Recent Developments
- In September 2022, Adisseo started producing liquid methionine at a new plant in Nanjing, China. The new facility in Nanjing, China, will more than double the company's methionine capacity to 350,000 tons.
- In February 2020, Evonik Industries has successfully acquired the US based company PeroxyChem for a value of USD 640 million after the responsible court in the Washington D.C. The company is mainly aiming on expanding its product offerings in methionine market to consolidate its market position.
Global Methionine Key Market Trends
- Increasing incidences of several type of animal diseases around the world has resulted in higher adoption and usage of methionine in animal feeds. Additionally, in the recent years, consumer awareness regarding health issues and concerns related to animal diseases has resulted in the rising need for methionine products. Asia Pacific and North America are likely to have higher growth and demand to maintain adequate metabolism rates in farming industries and livestock.
Global Methionine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global methionine market is witnessing a significant growth during the forecast period owing to increased consumer disposable income, increasing prevalence of sports activities, and high technological advancements. Furthermore, several characteristics of methionine such as elimination of heavy metals, avoiding excess fat storage in the body, and facilitating detoxification process are also expected to fuel the market growth and adoption of methionine is several applications. However, methionine might cause diarrhea, headache, and dizziness, which are projected to hinder the global market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.67 billion |
| Market size value in 2031 | USD 11.51 billion |
| Growth Rate | 9.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Methionine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Methionine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Methionine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Methionine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Methionine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Methionine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Methionine Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
