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Lysine Market Trends, Growth & Competitive Analysis 2024-2033
Lysine Market Trends
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According to The Business Research Company's, The lysine market size has grown strongly in recent years. It will grow from $7.92 billion in 2023 to $8.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to livestock feed industry growth, increased meat consumption, expansion of animal husbandry practices, shift to high-protein diets, global population growth..
The lysine market size is expected to see strong growth in the next few years. It will grow to $11.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rising demand for animal protein, focus on livestock health and productivity, global dietary shifts, increasing aquaculture practices. Major trends in the forecast period include technological innovations in lysine formulations, focus on lysine quality and purity, integration of lysine in sustainable livestock farming practices, market response to fluctuations in grain prices.
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Market Drivers and Trends:
The increase in meat consumption is expected to propel the growth of the lysine market going forward. Meat consumption refers to the amount of meat products that individuals or populations consume as part of diet. Lysine supplementation in animal feed formulations ensures optimal growth, meets lysine requirements, supports overall health and development, and promotes the production of high-quality meat. For instance, in April 2023, according to the report published by the United States Department of Agriculture (USDA), a US-based federal agency responsible for overseeing agriculture, food, and rural development, beef meat consumption increased from 12,712 metric tons in 2021 to 12,803 metric tons in 2022. Pork meat consumption increased from 9,918 metric tons in 2021 to 9,959 metric tons in 2022. Further, chicken meat consumption increased from 17,164 metric tons in 2021 to 17,674 metric tons in 2022. Therefore, the increase in meat consumption is driving the growth of the lysine market.
Product innovation is a key trend gaining popularity in the lysine market. Major companies operating in the lysine sector are focused on developing innovative products such as Biolys to strengthen their position in the market. Biolys is a highly effective and reliable source of lysine that enables unsurpassed precision in balancing amino acids. For instance, in May 2023, Evonik Industries AG, a Germany-based speciality chemicals company launched Biolys. This product meets the requirements for the essential amino acid L-lysine because it contains a higher proportion of L-lysine than is typically found in comparable products. With its excellent handling and processing properties, Biolys is a high bulk density, free-flowing granulate. Animals of all kinds can biologically access it since it is produced without using any animal byproducts. Additional essential amino acids and phosphorus are also present in the product.
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Major Key Players of the Market:
Cargill Incorporated, Archer Daniels Midland Company, CJ CheilJedang Corporation, Evonik Industries AG, DuPont de Nemours Inc., Ajinomoto Co. Inc., Perdue Farm, MeiHua Holdings Group Co, Daesang Corporation, Alltech, Kemin Industries, Novus International Inc., Heilongjiang Chengfu Food Group Co Ltd, COFCO Biochemical (Anhui) Co. Ltd., Now Supplements, Kyowa Hakko USA Inc, Sewon, Spectrum Chemical Mfg. Corp., Bio-Chem Technology Group Company Limited, Pure Encapsulations, BRI Nutrition, BulkSupplements, Nanjing Jiayi Sunway Chemical Co. Ltd., Pharmaoffer, Arshine Pharmaceutical Co
Lysine Market 2024 Key Insights:
• The lysine market size is expected to see strong growth in the next few years. It will grow to $11.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Rising Meat Consumption Boosts Lysine Market As Essential Supplement For Optimal Animal Growth
• Breakthrough In Precision Amino Acid Balancing And Nutritional Innovation
• Asia-Pacific was the largest region in the lysine market in 2023
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