Amino Acids Market Growth & Trends
The global amino acids market size is expected to reach USD 48.22 billion by 2030 and is anticipated to grow at a CAGR of 8.4% from 2023 to 2030 as per the new report by Grand View Research, Inc. The growth is majorly driven by the growing global consumption of food & dietary supplements, and animal feed globally. Rising demand for dietary supplements along with the bolstering expansion of the healthcare industry in countries, such as India, China, Mexico, and the U.S., is expected to propel the product demand. Among the different types of amino acids, lysine, and valine are gaining significant attention among end users.
Dietary supplements and pharmaceuticals are the prominent end-use segments of the market. Dietary supplements have significant consumption in countries such as Japan, the U.S., the UK, and Germany. Factors such as technological advancements and smart marketing technologies are fueling the growth of the dietary supplement market. Furthermore, increased penetration of amino acid-based supplements can also be attributed to growing consumer awareness about health and dependence of women and senior citizens on dietary supplements.
Growing awareness among consumers regarding nutritional requirements for animals, coupled with augmented demand for enhanced feed quality and high feed production, is expected to drive the market over the forecast period. Key players operating in the market include Evonik, ADM, and Adisseo. These players provide feed-grade amino acids in powdered, granular, or supplement forms.
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Amino Acids Market Report Highlights
Tryptophan witnessed the highest growth rate owing to its growing demand from food & dietary supplements on the account of its ability to provide health benefits such as growth for infants, reduce the symptoms of mental illness, and more
Food & dietary supplements application witnessed the fastest growth rate of 7.4% on the account of growing health concerns in light of COVID-19
Poultry livestock in animal feed witnessed the highest growth rate of 7.7% due to the rising demand for meat and poultry products across the globe
Plant-based raw material is expected to witness fastest growth rate of 7.6% over the forecast period, on the account of growing use of natural and plant-based ingredients owing to their rich nutritional properties
Asia Pacific is expected to be the fastest growing region with growth rate of 8.0% over the forecast period owing to rising consumption of amino acid-based products on the account of growing population in the region
The amino acid market is anticipated to witness intense competition due to the presence of key players like Cargill Inc., ADM, Ajinomoto Co., Royal DSM, Prinova U.S. LLC, and Evonik Industries AG dominating the market
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