The amino acids market has been segmented by application into animal feed, food & dietary supplements and pharmaceuticals. Among these segments, the food and dietary segment is expected to grow at highest CAGR over the forecast period. This can be attributed to the applications of amino acids as a barrier to block pollution and other similar factors that prevent our body from getting steady supply of proteins. Further, the usage of amino acids as supplements that help in prevention of eye and cardiovascular diseases in humans is anticipated to expand the amino acids market over the forecast period.
The global market for amino acids is expected to reach USD 30.8 Billion by the end of 2024, expanding at a compound annual growth rate of 5.7% over the forecast period. This can be attributed to various factors such as growing consumer awareness and rising demand for healthy and functional food. Further, increasing consumption of dietary supplements is expected to positively impact the growth of global amino acids market by noteworthy revenue by the end of 2024.
In the regional segment, Asia Pacific accounted for the major market share in global amino acids market and is expected to continue its dominance over the forecast period. This can be attributed to rising disposable income and increasing demand for dietary supplements in the region. Further, famers are adopting amino acids over antibiotics for their livestock animals. This factor is anticipated to fuel the growth of global amino acids market during the forecast period. Further, the rising old age population in North America is anticipated to drive the growth of amino acids market at a significant CAGR in upcoming years. Along with that, Europe is expected to witness moderate growth in amino acids marker owing to increasing demand for food & dietary supplements.
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Growing Concern for Healthcare Reflects Opportunities
In livestock drugs, amino acids are substituting antibiotics owing to their natural and safety feature. Further, rising disposable income coupled with increasing healthcare consciousness is expected to drive the growth of global amino acids market during the forecast period. Factors such as rising popularity of amino acids over antibiotics and restriction on the use of antibiotics in few countries are anticipated to expand the growth of global amino acids market.
However, fluctuating price of raw materials and availability of other sources of protein is anticipated to limit the growth of amino acids market over the forecast period.
The report titled “Amino Acids Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the amino acids market in terms of market segmentation by type, by source, by application and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the amino acids market which includes company profiling of Cargill Incorporated, Adisseo France Sas, Ajinomoto Co. Inc., Archer Daniel Midlands Company, Novus International Inc., Sodrugestvo Group, Kyowa Hakko Bio Co. Ltd., Saigner Adiego, Chengdu Pukang Biological Technology Co. Ltd and Kyowa Hakko Europe GmbH.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the amino acids market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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