Tryptophan Market Growth Report, Share and Rising Demand till 2030

Tryptophan Market Overview:
In 2021, the global tryptophan market had a significant size and is anticipated to experience a swift revenue CAGR throughout the forecast period. The market is being driven by various factors, including the increasing use of tryptophan in the health and wellness industry. Athletes are utilizing it for sleep recovery and rest due to its benefits related to growth hormone, while the animal feeding sector is using it to improve feed quality for poultry. Tryptophan is an amino acid that cannot be produced by humans, making it necessary to be obtained through diet. Therefore, it is popular as a nutrition supplement for those who cannot meet their daily requirements through food. In addition, tryptophan plays an essential role in the mental health domain as it is a precursor to the serotonin neurotransmitter, which helps in maintaining mood. It is medically recommended in cases of sleep disorders, depression, attention deficit disorder, and anxiety.

Furthermore, the addition of this amino acid to fodder for poultry is known to increase the quality of animal feed, which helps maintain adequate animal health. Hence, the substance has various applications ranging from healthcare and cosmetics to animal rearing and food industries.
The growing health and wellness industry is a major factor driving revenue growth of the global tryptophan market. Nutrient supplements are being widely used, and tryptophan is being promoted as a sleep supplement, which helps athletes and insomniacs recover and rest well during the night.

The Centre for Disease Control and Prevention (U.S.) reports that 35.2% of adults in the U.S. are not receiving over 7 hours of sleep, which is a concerning health statistic. Hence, medications involving the use of L-tryptophan are being prescribed extensively for mental disorders associated with stress and less sleeping time, such as depression. Therefore, the wellness industry is an important factor in driving revenue growth.

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Tryptophan Market Segments:
The global tryptophan market has been segmented based on type, application/end-use outlook, and regional outlook. In terms of type, the market is divided into 98% tryptophan and others, which includes 99% and 20%. Between the two, 98% tryptophan held a significant share in the market in 2021 and is expected to maintain its dominance during the forecast period.

Based on application/end-use outlook, the market is categorized into animal feed, food & beverage, and healthcare. Among these, animal feed held the largest share in 2021. This can be attributed to the use of tryptophan as an amino acid supplement in animal feed, which is known to improve the quality of the feed and promote animal health. The food & beverage segment is expected to grow rapidly during the forecast period due to the increasing demand for functional food and beverages. In healthcare, tryptophan is used as a supplement for treating sleep disorders, depression, and anxiety, among other mental health disorders.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share in the market in 2021, owing to the high adoption of tryptophan supplements in the healthcare and wellness industries. The Asia Pacific region is expected to grow rapidly during the forecast period, due to the increasing demand for dietary supplements and animal feed. The presence of major tryptophan manufacturers in China and India is also expected to contribute to the growth of the market in the region. Europe is another significant market for tryptophan, due to the high demand for functional food and beverages in the region. In Latin America and the Middle East & Africa, the market is expected to grow steadily, due to increasing awareness about the benefits of tryptophan supplements in these regions.

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Tryptophan Market Strategic Developments:
In November 2020, the acquisition of Porocel Group (U.S.) by Evonik Industries AG (Germany) was completed. This strategic move is expected to enhance the company's catalysts portfolio, which plays a crucial role in reactions involving biochemical compounds, including amino acids. The acquisition is anticipated to increase the production of such products in the regions where they operate.
In August 2019, Ajiomoto Co. Inc. (Japan) announced the acquisition of the majority stake in Gourmet Holdings, a food company in the United States. This acquisition enables the company to expand its operations in the food production sector, which could involve the large-scale use of tryptophan. This acquisition strengthens the supply of the amino acid in the food industry.

Tryptophan Market Competitive landscape:
The global Tryptophan market is highly competitive, with several prominent players vying for market share. These companies operate across the globe and offer a wide range of products to cater to various end-use industries.

One of the major players in the market is Evonik Industries AG, based in Germany. This company recently completed the acquisition of Porocel Group in November 2020, which is expected to boost its catalysts portfolio and help increase production of biochemical compounds, including amino acids.
Ajinomoto Co., Inc. is another key player in the market and is headquartered in Japan. In August 2019, the company acquired a majority stake in Gourmet Holdings, a food company based in the US. This move has strengthened the company's supply of Tryptophan in the food industry and enabled it to delve deeper into the food production sector.

Cargill, Incorporated is a US-based company that operates across various sectors, including food, agriculture, and industrial. It has a significant presence in the global Tryptophan market and offers a wide range of products for various end-use industries.

Daesang Corporation, a South Korean company, is another key player in the market that offers a diverse range of Tryptophan products. The company operates across various sectors, including food and bioengineering.

Other major companies in the Tryptophan market include Glanbia Plc, Meihua Holdings Group Co., Kyowa Hakko Bio Co., Ltd., Fufeng Group, AMINO GmbH, and CJ CheilJedang Corporation. These companies offer a wide range of Tryptophan products for various end-use industries and have a significant global presence.

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