The global methionine market is expected to grow at an impressive CAGR of close to 7% during the forecast period, according to Technavio's latest market research.
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Technavio has published a new report on the global methionine market from 2017-2021. (Photo: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global methionine market for 2017-2021. The market report further classifies the market into different segments based on application, including food and dietary supplements, pharmaceuticals, and animal feed.
Technavio's research analysts segment the global methionine market into the following regions:
- APAC
- Europe
- North America
- ROW
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The top three geographical segments are discussed below.
APAC: largest methionine market
During the forecast period, the methionine market in APAC is predicted to grow rapidly when compared to other geographical segments. This is because of the increasing population and mass meat consumption in the region. Most of the countries in APAC are extensively involved in cattle production. This will enable APAC to retain its position in the market as it is a considerable producer and consumer of methionine.
"The methionine market in APAC is growing due to the rising government-led support for animal husbandry. This initiative is to ensure food security for the rising population. In China, the escalating demand for livestock and meat products will lead to the rapid growth of the methionine market. The development in science and technology related to animal feed alongside increasing emphasis on biotechnological innovations in animal productivity will further fuel the growth of the methionine market," says Ajay Adhikari, a lead specialty chemicals research expert from Technavio
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Methionine market in Europe
The methionine market in Europe is mostly driven by the rising demand for meat, and it is anticipated to experience considerable growth during the forecast period. The changing eating habits of consumers, alongside the introduction of meat snack outlets, has increased the demand for methionine in this region. Fast food includes mass meat consumption and it is vital for the market. Consumption of fast food is a significant driver for the growth of the global methionine market.
"Apart from meat consumption, the rising demand for dietary supplements is fueling the growth of methionine market in Europe. Awareness regarding healthy lifestyle has encouraged consumers to use dietary supplements. The growing occurrence of obesity in this region is expected to drive the demand for dietary supplements, which will further fuel the methionine market," says Ajay
Methionine market in North America
Over the past few years, the methionine market in North America experienced a linear growth. But it is expected to expand rapidly over the forecast period. The methionine market in North America is driven due to the swelling demand for sports and dietary supplements. To avoid heavy medical bills and due to the growing geriatric population, the demand for dietary supplements in this region will increase. This will further contribute to the growth of the methionine market during the forecast period. Sports supplements are consumed by athletes and bodybuilders to enhance their performance.
The top vendors in the global methionine market as highlighted in this market research analysis are:
- China National BlueStar
- CJ CheilJedang
- Evonik Industries
- Sumitomo Chemical
- TOKYO CHEMICAL INDUSTRY
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