Methionine Market: Overview
Methionine is a sulphur-containing amino acid, which is required for translation insulation as a component of proteins and as an initiator of protein synthesis and is therefore crucial for a variety of methyl-tranferase reactions as a constituent of S-adenosyl-Methionine (SAM). It is expected that the global outlook for methionine will be bright owing to its use as a critical dietary supplement for poultry & livestock and expansion of world economy along with increased meat consumption. Declining growth rate of chicken production can be a restraint for the methionine market, whereas stable absolute growth rate of chicken and being highly competitive among other meats may fuel the growth of methionine market during the forecast period. The production of chicken meat on global level has increased at an average rate of about 2-2.1 million metric tons per year for the last few years and is expected to increase at same rate in the next decade. Over the past 10 years, the demand for protein has risen rapidly and is expected to grow further in the next few decades. The most economical and efficient source of protein is poultry, which is expected to grow at a much higher rate than protein industry because of lower consumer price point and lower production cost per kg. Moreover, the demand for methionine is also influenced by the shift of global industry towards more industrialized agriculture operations where the animal diets are balanced for amino acids.
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Methionine Market: Dynamics
Growing world population per year will demand more food and various strategic approaches to get nutrition for keeping livestock productive and healthy, which accounts for about 70% of total operating costs are factors, which are expected to drive the growth of methionine market over the forecast period. Furthermore, expansion of consumer choice along with rising income may demand protein foods such as sea food, dairy products and meat, which is expected to fuel the growth of methionine market in next decade. Moreover, increasing weight of broiler is expected to increase by 0.06% over the next few decades due to strategic application of nutritional supplements and genetic technologies, which are related to operating costs of industrialized production environments. Methionine helps to improve the immune system by reducing the intestinal oxidative stress, proliferating crypt cells, increasing goblet cells and intestinal structure, which can fuel its growth over the forecast period.
Rising energy prices, which might result in shortage of raw materials for the production of methionine is estimated to be the factor hampering the growth of methionine market during the forecast period. Furthermore, various programs promoting the vegetarianism and to slowdown the consumption of poultry products are expected to hinder the growth of methionine market over the forecast period.
Methionine Market: Segmentation:
Global methionine market is segmented on the basis of raw material type and application. On the basis of raw material type, global methionine market is segmented into seaweed, wheat and soy-meal. On the basis of application, global methionine market is segmented into food & dietary supplements, animal feed additives, pharmaceuticals and others.
Methionine Market: Region-wise Outlook:
North America and Western Europe are expected to be the matured markets in the global methionine market owing to increasing dietary supplements demand, increasing cardiovascular disease and obesity prevalence among people. Asia Pacific is expected to expand at a significant growth rate due to increasing meat consumption in India, China, Vietnam and other major countries and changing food habits coupled with high disposable incomes. Latin America being one of the major consumers of poultry products is estimated to exhibit considerable growth. Eastern Europe and Middle East and Africa markets are projected to gain traction over the forecast period due to changing trend for food and increasing protein intake.
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Methionine Market: Market Participants:
Some of the market participants in the global methionine market are:
- NOVUS INTERNATIONAL
- Evonik Industries AG
- Sumitomo Chemical Co.,Ltd.
- IRIS BIOTECH GMBH
- Zhejiang NetSun Co., Ltd.
- Royal DSM
- AJINOMOTO Co., Inc.