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Methionine Market - Growth, Trends, and Forecasts (2017 - 2022)
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The Global Methionine market is expected to value USD XX.XX billion in 2016, and is likely to value USD XX.XX billion by 2021, projecting a CAGR of XX.XX%. Among all the regions in the world, Asia-Pacific is the largest market for Methionine, owing to large dependence of livestock in the region. It is also the fastest growing market during the forecast period 2016-202, and is slated to project a CAGR of XX.XX%. Methionine is an alpha amino acid, and is one of the building blocks in the formation of protein.
The animal feed industry is expected to record the fastest growth, as methionine is used in large quantities to promote growth of poultry and livestock, shorten feeding cycles, and increase the quantity of lean meat. Methionine is more efficient than fish powder, which was previously used, as it is cheap, easily available and effective. The use of Methionine in food production and pharmaceutical industries is also increasing, owing to its use as a nutrition supplement and intermediate, flavor enhancer and reducing agents.
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The Methionine market is segmented by end-user industry, which includes food production, beverage, pharmaceutical, cosmetics, agriculture, animal feed, and others. It is also segmented by application, which includes animal feed additive, sodium reducing agent, nutrition supplements, intermediates in medicine manufacture, flavor enhancer and others.
The market is also segmented by geography as North America (United States, Canada, Mexico and Rest of North America), Europe (Germany, United Kingdom, France, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), South America (Brazil, Argentina, Rest of South America), and Middle-East & Africa (South Africa, Saudi Arabia, and Rest of Middle-East & Africa).
Key players in Methionine market include Sumitomo Chemical Corporation Limited, Adisseo (China National BlueStar Co. Ltd.), Evonik Industries, CJ CheilJedang, Tokyo Chemical Industry Co., Ltd., Chongqing Unisplendour Chemical Co., Ltd., etc. among others.
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