Press release
Methionine Market Report on Global and United States Market, Status and Forecast, by Players, Types and Applications 2018-2023
the methionine market is categorized into powder and liquid. Of these two, powder was the larger form type in the market, with the respective volume and value contributions exceeding 60.0% and 55.0% in 2017. The high consumption of powder form in the food and beverage and animal husbandry industries is attributing to its larger share in the market.
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the methionine market is categorized into animal feed additive, pharmaceutical, food processing, aquaculture, and others. Other application includes cosmetics and personal care. Animal feed additive is the largest application area in the market. According to data from the Institute for Feed Education and Research (IFEEDER), in 2016, the U.S. animal feed manufacturing industry experienced total sales of $297.1 billion. Hence, large-scale consumption of animal feed is accelerating the consumption of the chemical for this application category in the market.
the methionine market is categorized into DL-methionine, L-methionine, and methionine hydroxy analog (MHA). DL-methionine was the largest category in the market, contributing more than 55.0% revenue share in 2017. High demand for DL-methionine as nutritional and dietary supplement from the animal husbandry and food processing sectors is driving its demand globally.
Asia-Pacific (APAC) is expected to be the fastest growing methionine market, with respective volume and value CAGRs of 9.0% and 10.7% during the forecast period. The market in the region is driven by the presence of key players such as Bluestar Adisseo Company, Sumitomo Chemical Company Limited, and Ajinomoto Co. Inc.
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Methionine is widely used as an intermediate in the preparation of liver-related and vitamin medicines to treat liver cirrhosis, toxic hepatitis, and pneumonia. It is also used in improving wound healing, allergies, and copper poisoning. Furthermore, L-methionine is a powerful antioxidant and helps in slowing down the aging process.
Some of the major players operating in the global methionine market are Novus International Inc., Evonik Industries AG, Bluestar Adisseo Company, Sumitomo Chemical Company Limited, Arkema Group, METabolic EXplorer, Archer Daniels Midland Company, Ajinomoto Co. Inc, Royal DSM, and BASF SE.
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