Amino acids are the building blocks of proteins that help stimulate muscle growth and metabolism. They are essential for various bodily functions such as production of hormones and neurotransmitters. Amino acids supplements are used to enhance athletic performance, boost immunity, lose or gain weight. They are also used as dietary supplements and ingredients in functional foods and sports nutrition products.
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 key trends: The increased demand for amino acids from food and beverages industry is driving growth of the market. It is used as taste enhancer and nutritional supplement in various food products such as baked goods, snacks, confectionery, soups, seasonings, dairy and meat products. The rapidly growing food processing industry is supporting growth of amino acids market. According to the United Nations Food and Agriculture Organization (FAO), the global processed food sales are projected to reach US$ 2 trillion by 2022-23. Amino acids find wide applications as nutritional supplement, flavor enhancer and preservative in processed food products. Another key trend is the increased demand for plant-based meat products which require amino acids as essential protein sources. Growing vegan and vegetarian population is fueling demand for plant-based protein products. Large investments in food technology is supporting development of innovative plant-based meat analogs. Porter's Analysis Threat of new entrants: The amino acid market requires high capital investment for R&D, production facilities and marketing new products. This poses significant barrier for new companies. Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of substitutes and presence of many established vendors offering competitive pricing. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and presence of many vendors in the market. Threat of new substitutes: Alternative supplement sources pose moderate threat due to consumer preferences for specific amino acids for their benefits. Competitive rivalry: Intense due to strategic developments and innovations by major players to sustain market share. SWOT Analysis Strength: Wide applications in food & beverages, pharmaceuticals, cosmetics and personal care industries. Increasing demand for dietary supplements and nutrition products. Weakness: High R&D and production costs. Stringent regulatory framework. Opportunity: Growth of functional food & beverages industry. Rising health awareness and demand for preventive healthcare. Threats: Supply volatility due to weather conditions affecting raw material production. Trade barriers and fluctuating raw material prices. Key Takeaways The Global Amino Acid Market Share is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand for dietary supplements and functional foods & beverages. The market size for 2023 is estimated at US$ 27.4 Bn. Regional analysis: North America dominates the global amino acid market currently and is expected to maintain its dominance over the forecast period. This can be attributed to rising health concerns and increasing consumer spending on dietary supplements in the region. Asia Pacific is expected to exhibit the fastest growth due to growing food processing industry and rising disposable incomes in countries such as 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. Strategic partnerships and new product launches have helped these players sustain leadership positions in the global market. Get More Insights On This Topic: https://www.ukwebwire.com/the-new-avenue-for-amino-acid-market-growth-trends-and-forecast-analysis/
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