Global Methionine Market

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: July, 2001
Pages: 260 | Tables: 91 | Figures: 76

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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).

The methionine market is highly consolidated with the existence of several international and regional market players around the globe, with top 5 players of 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. 'Evonik Industries AG', 'CJ CheilJedang Corporation', 'Adisseo France SAS', 'Novus International, Inc.', 'Sumitomo Chemical Co., Ltd.', 'Bluestar Adisseo Co., Ltd.', 'Ajinomoto Animal Nutrition Europe', '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'

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 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.

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.

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 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.

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