by Amino acids are organic compounds that combine to form proteins. They play a vital role in various metabolic activities and serve as precursors to neurotransmitters and hormones. Nine amino acids are known as essential amino acids as they cannot be synthesized internally and have to be obtained through diet. The market comprises amino acids like lysine, methionine, threonine, tryptophan, and leucine that find applications across various end-use industries like animal feed, pharmaceuticals, food and beverages and nutraceuticals.
The global Amino Acid Market is estimated to be valued at US$ 27.4 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Market Dynamics:
The demand for nutraceuticals incorporating amino acids is rising due to increasing health awareness among consumers. Amino acids aid in building lean muscle mass, improving metabolism and reducing recovery time. Moreover, changing dietary habits and growing demand for plant-based animal feed worldwide is boosting the consumption of purified amino acids like lysine and methionine. The market is also driven by continuous innovations in amino acid formulations to meet customer-specific requirements. However, factors like stringent regulatory norms and adoption of alternative proteins may hamper the market growth over the forecast period.
Segment Analysis
The amino acid market can be segmented into l-glutamate, l-lysine, l-tryptophan, l-methionine, l-threonine, l-leucine, l-isoleucine, l-valine, and others. The l-glutamate segment dominated the market and accounted for nearly 40% of overall sales in 2023 due to its wide applications in food & beverage industry as a flavor enhancer.
PEST Analysis
Political: The regulatory policies across various countries are supporting the growth of the amino acid market. For instance, the permission of using amino acids as supplements and functional ingredients in food products is boosting the demand.
Economic: The rising disposable incomes and growing health conscious population globally is positively impacting the amino acid market. The demand from end use industries like food & beverage, pharmaceutical and animal feed are driving the market growth.
Social: Changing lifestyle, increasing prestige of protein-rich diet, and growing awareness about nutrition and supplements are some key social factors fueling the sales of amino acids.
Technological: Advancements in fermentation and separation techniques have enabled large scale and cost effective production of amino acids. New production technologies are further expected to drive the market.
Key Takeaways
The Global Amino Acid Market Shareis expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand from food & beverage industry. The market size for 2023 is estimated at US$ 27.4 Bn.
North America dominated the amino acid market and accounted for over 30% of global demand in 2023 owing to presence of major end-use industries and consumers. Asia Pacific is expected to be the fastest growing regional market at a CAGR of around 10% during 2023 – 2030 due to growing health awareness, increasing per capita incomes and expansion of end-use industries in countries like China and India.
Key players operating in the amino acid market are Ajinomoto Co., Inc., KYOWA HAKKO BIO CO., LTD., AMINO GmbH, Bill Barr & Company, IRIS BIOTECH GMBH, Taiwan Amino Acids Co. Ltd., BI Nutraceuticals, Sichuan Tongsheng Amino acid Co., Ltd, Wacker, Chemie AG, Adisseo, and CJ CheilJedang Corp. The market is fragmented in nature with top 6 industry players accounting for around 50% share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
