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

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.