Amino Acids Market Report 2024: Applications, Demand Drivers, and Growth Potential

"The Business Research Company recently released a comprehensive report on the Global Amino Acid Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The amino acid market size has grown strongly in recent years. It will grow from $26.7 billion in 2023 to $29.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to nutritional supplements, pharmaceutical applications, animal feed and agriculture, processed foods and flavor enhancers biotechnology and research, amino acid fortification,.

The amino acid market size is expected to see strong growth in the next few years. It will grow to $41.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to plant-based and vegan diets, sports nutrition, amino acid-based pharmaceuticals, precision agriculture, biomanufacturing and biotechnology. Major trends in the forecast period include personalized nutrition, functional amino acids, bioavailability enhancement, clean label products, biotechnological advances.

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Market Drivers and Trends:

Rising health consciousness among the population is expected to propel the growth of the amino acid market going forward. Health consciousness refers to the extent to which individuals tend to take action towards taking care of their health. Health-conscious people take amino acids as part of their diet to improve their immunity. For instance, according to an online survey conducted by the Times of India, an Indian-based daily newspaper, in 2021, 70% of the participants stated that they have prioritized dietary lifestyle changes such as eating healthy nutrient-rich food, and 65% of respondents also indicated their increased reliance on nutritional experts to help achieve their goals. Therefore, the rising health consciousness is driving the growth of the amino acid market.

Product innovation is a key trend gaining popularity in the amino acid market. Major companies operating in the amino acids sector are focused on product innovations to meet plant-based and natural flavoring ingredient demand. For instance, in April 2021, CJ BIO, a South Korea-based food company, launched FlavorNrich Master C, the world's first natural cysteine. It is produced by microbial fermentation and is the only natural amino acid qualified as natural flavor by the USDA Organic Program as well as the United States Department of Agriculture (USDA), the United States Food and Drug Administration (FDA), the Flavor and Extract Manufacturers Association Generally Recognized As Safe (FEMA GRAS), and European Union (EU) regulations.

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Major Key Players of the Market:

Evonik Industries AG, Daesang Corporation, Sunitomo Chemical Co. Ltd., Archer-Daniels-Midland Company, Amino GmbH, Cargill Inc., Fufeng Group Company Limited, Ajinomoto Co. Inc., Kyowa Hakko Bio Co. Ltd., Novus International Inc., Iris Biotech GmbH, Taiwan Amino Acids Co. Ltd., Sekisui Medical Co. Ltd., Koninklijke DSM NV, Kemin Industries Inc., Evonik Industries AG, Phillip Brothers Chemicals Inc., Mitsubishi Tanabe Pharma Corp., Nippon Kayaku Seizo Co. Ltd., Wacker Chemical Corporation, Creative Enzymes, Asiamerica Group Inc., CJ CheilJedang Corp., Novus International Inc., Royal DSM N.V., Carbolution Chemicals GmbH, Welding GmbH & CO. KG, Ryss Lab Inc., Meihua Holdings Group Co. Ltd., Fufeng Group Company Limited, Shandong Yangcheng Biotech Co. Ltd., Sichuan Tongsheng Amino Acid Co. Ltd., Tianjin Tianan Pharmaceuticals Co. Ltd.

Amino Acid Market 2024 Key Insights:

• The amino acid market size is expected to see strong growth in the next few years. It will grow to $41.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Elevated Health Consciousness Fuelling The Expansion Of The Amino Acid Market
• Innovations In Amino Acid Products
• Asia-Pacific was the largest region in the amino acid market in 2023

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