Market Overview: Amino acids are type of organic compounds that combine to form proteins. There are about 500 types of amino acids which are divided into essential and non-essential amino acids based on the ability of human body to synthesize them. Essential amino acids cannot be produced in the human body and need to be supplemented through diet. Major product types in the market include lysine, methionine, threonine, tryptophan and leucine. Amino acids find applications in animal feed, dietary supplements, pharmaceuticals and cosmetics due to their health promoting properties. The global Amino Acid Market Demand 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 amino acid market is expected to witness high growth owing to increasing demand for dietary supplements and functional foods. Changing lifestyle and eating habits has increased prevalence of lifestyle diseases. As a result, consumers are shifting towards consumption of nutritional supplements and protein-rich foods to meet their daily nutritional requirements. Furthermore, growing meat consumption globally has significantly driven the demand for amino acids in animal feed applications. According to data by Food and Agricultural Organization, global meat production increased from 228 million tons in 2000 to 330 million tons in 2019. Growing meat production is propelling the consumption of amino acid feed additives. Also, rising health consciousness and aging population has augmented the demand for amino acid based pharmaceuticals and nutraceuticals. Porter's Analysis Threat of new entrants: The amino acid market faces moderate threat from new entrants due to high capital requirement for R&D and production facilities. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and presence of many established players. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material sources and technical complexity involved. Threat of new substitutes: Threat from substitutes is low as amino acids have limited substitutes for their application in nutrition and pharmaceuticals. Competitive rivalry: Intense competition exists among existing players due to their focus on new product launches and expansion. SWOT Analysis Strengths: Wide applications in food & beverages, pharmaceuticals, personal care drives steady demand. Increased health awareness boosting demand for nutrition products. Weaknesses: Regulations related to amino acid production and usage differ across regions. Fluctuating raw material prices affects the overall production cost. Opportunities: Rising meat consumption complements growth in feed industry. Growing demand for allergen-free and clean label products offer new opportunities. Threats: Competition from substitute products limits pricing flexibility of players. Supply chain disruptions amid pandemic poses challenges. Key Takeaways The global amino acid market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand from nutrition and pharmaceutical industries. The nutrition segment accounts for the largest share due to wide use of amino acids in dietary supplements, infant formula, sports nutrition and functional foods. Regionally, Asia Pacific dominates the global amino acid market and the region is expected to maintain its leading position over the forecast period owing to rising meat consumption, increasing health consciousness and growing feeding industry. China represents the fastest growing market owing to large production and consumption of amino acids in the country. 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. Majority of leading players focus on strategies such as mergers, acquisitions and new product launches to strengthen their market position. Read More: https://www.dailyprbulletin.com/the-new-avenue-for-amino-acid-market-size-and-share-analysis/
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