Methionine Market Outlook
Methionine is a key component used on finfish, crustaceans, and shrimps. It is a vital amino acid found in humans. It plays a vital role in the health and metabolism of many species, including humans. Supplementation of methionine benefits those suffering from copper poisoning. The food and nutrition board of the United States set the RDA (Recommended Dietary Allowances) for amino acids in 2002. For methionine, the maximum recommended allowance for adults is 19mg/kg body weight/day. Also, under the U.S. certified organic program, methionine is allowed as a supplement to organic poultry feed.
High levels of methionine are found in egg, fish, and meat. Its use in pharmaceuticals includes treating allergies, alcoholism, drug withdrawal, depression, asthma, radiation side effects among more.
However, according to numerous studies, overconsumption of methionine is linked with cancer growth, which presents an obstacle in the growth of the methionine market.
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Animal Feed Sector to Lead the Growth of the Methionine Market
Animal feed has emerged as the primary application end-use segment and expected to lead the segment for the years to come. Poultry is the leading consumer for methionine. The increasing emergence of fish proteins and tuna infused based dietary, and sports supplements are leading to a healthy lifestyle is expected to provide a significant boost to the market. Methionine is evolving as a replacement for fish powder since it is cheaper, effective, and easily available. In pharmaceuticals, methionine is being used for medicines for treating liver disorders, increasing acidity of urine and bettering wound healing. Growing concern for animal welfare is anticipated to be the primary factor driving significant to the methionine market over the next few years.
Methionine Market Segmentation
The Methionine market can be segmented on the basis of product type and end use
On the basis of product type, the Methionine market can be segmented as:
On the basis of end use, the Methionine market can be segmented as:
- Food and Dietary Supplements
- Animal Feed Poultry Pigs Cattle Others
Methionine Market: Key Developments
- In October 2016, Evonik Industries started the construction of its second methionine complex in Singapore. The complex possesses the production capacity of around 150,000 metric tons with initial investment costs more than half a billion dollars.
- In July 2015, Evonik Nutrition, DSM Nutritional Products Ltd., and Care GmbH announced their joint development agreement for the production of algae-based omega-3 fatty acids products made for animal nutrition, particularly for applications of pet food. The contract aimed to meet the increasing demand for omega-3 fatty acids.
Methionine Market: Regional Analysis
The methionine market in Asia-Pacific is expected to account for the largest share in terms of volume owing to the abundant population and an extensive animal feed industry. Increasing demand for dietary and sports supplements is expected to play an important role in the growth of the market in Asia-Pacific. Also, the production of cattle has taken a significant toll, which is expected to help further the Asia Pacific to retain its position in the market at the end of the forecast period. Meanwhile, the methionine market in North America is expected to register the fastest growth over the forecast period.
By product type, plant-based methionine was leading the market and expected to gain more share over the forecast period owing to the stringent government norms to ban bone meal and fish silage.
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Methionine Market: Key Participants
Some of the market participants in the Methionine market are:
- Evonik Industries
- Tokyo Chemical Industry Co.
- Sumitomo Chemical Corporation Limited
- Bluestar Adisseo Company
- CJ Cheil Jedang
- Ajinomoto Co., Inc.