The global methionine market revenue was around US$ 5.67 billion in 2022 and is estimated to reach US$ 12.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.3% during the forecast period from 2023 to 2031.
Methionine is a complex amino acid with sulfur that is one of the few necessary amino acids in the human body. This amino acid stimulates body growth and offers several health advantages. Methionine contains sulfur, which aids in the growth and development of the human body as well as the defense of cells against contaminants.
Market Driving Factors
The surge in meat consumption as a primary source of protein is the main factor to fuel the market growth. The consumption of meat products is increasing quickly in developing nations like India, China, and Indonesia owing to changes in consumer eating patterns. The popularity of frozen meat products and the abundance of meat outlets are also expected to drive market expansion.
The surge in demand from the pharmaceutical and cosmetics industries may fuel the market. Methionine is used in the production of medicines and cosmetic products due to its advantageous characteristics. As these industries contribute to growth, the demand for methionine as an ingredient in pharmaceuticals and cosmetics grows. As a result, these industries create opportunities in the market.
The availability of substitutes, strict regulatory restrictions, and the fluctuation of raw material costs limit the market growth.
Regional Analysis
Asia Pacific dominated the market and is expected to maintain its dominance over the projection period. This can be attributed to the changing dietary patterns, increasing per capita income, and a high use of meat products as a health supplement. China is expanding faster than the global average due to the country's rapidly expanding middle-class people and their escalating demand for meat products. This is easily attributed to the extensive use of animal feed in the nation's livestock and farming industries.
North America is predicted to dominate the market in terms of the highest CAGR. This is due to a high level of technical development, rising rates of obesity and cardiovascular illness, and an expanding population of athletes and bodybuilders. Additionally, high reliance on animal-based foods and high dependence on non-vegetarian food items has resulted in a surge in methionine consumption in the region.
Segmentation Insights
Raw Material Insight
The animal feed segment dominated the market in terms of shares. An increase in the rate of maintaining cattle metabolism rates and an increase in the global consumption of meat products are the major elements predicted to boost the market. Additionally, prominent market companies are increasing their efforts to develop superior animal feeds and fortify their market positions, which significantly fuels the global demand for the segment.
The plant-based segment dominated the market in terms of the shares. This can be attributed to the increasing customer preferences for bio-based products, the surge in environmental concerns, and technological improvements. Additionally, widespread accessibility of the raw materials used in the production of plant-based methionine, like seaweed, wheat, and soybean meal are contributing to the segment growth.
End-User Insight
The food & dietary supplements segment dominates the market in terms of the rapid CAGR. This is due to rising consumer disposable income and a surge in the health consciousness, particularly in developing countries like India, China, and Brazil. In addition, a significant increase in the demand for energy drinks and bars in developed nations like France, the United States, and Germany is likely to fuel the segment's expansion.
Prominent Companies
Segmentation Outline
The global methionine market segmentation focuses on Raw Material, End-User, Type, and Region.
By Raw Material
By End-User
By Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL METHIONINE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: METHIONINE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL METHIONINE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL METHIONINE MARKET, BY RAW MATERIAL
5.1 OVERVIEW
5.2 PLANT-BASED
5.3 ANIMAL-BASED
6 GLOBAL METHIONINE MARKET, BY END-USER
6.1 OVERVIEW
6.2 ANIMAL FEED
6.3 POULTRY
6.4 FOOD & DIETARY SUPPLEMENTS
6.5 PHARMACEUTICALS
6.6 OTHERS
7 GLOBAL METHIONINE MARKET, BY TYPE
7.1 OVERVIEW
7.2 L- METHIONINE
7.3 MHA
7.4 DL-METHIONINE
8 GLOBAL METHIONINE MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL METHIONINE MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 EVONIK INDUSTRIES AG
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 CJ CHEILJEDANG CORPORATION
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 ADISSEO FRANCE SAS
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 NOVUS INTERNATIONAL, INC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 SUMITOMO CHEMICAL CO., LTD
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 BLUESTAR ADISSEO CO., LTD
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 AJINOMOTO ANIMAL NUTRITION EUROPE
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 GLOBAL BIO-CHEM TECHNOLOGY GROUP COMPANY LIMITED
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 MEIHUA GROUP INTERNATIONAL TRADING (HONG KONG) LIMITED
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 SUNRISE NUTRACHEM GROUP CO., LTD
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 ARCHER DANIELS MIDLAND COMPANY
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 PHIBRO ANIMAL HEALTH CORPORATION
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 JINZHOU JIRONG AMINO ACID CO., LTD
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 CHONGQING UNISPLENDOUR CHEMICAL CO., LTD
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 NIPPON SODA CO., LTD
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 CJ BIO CORPORATION
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 PUYER (NANTONG) BIOPHARMA CO., LTD
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.18 HUBEI GUANGJI PHARMACEUTICAL CO., LTD
10.18.1 OVERVIEW
10.18.2 FINANCIAL PERFORMANCE
10.18.3 PRODUCT OUTLOOK
10.18.4 KEY DEVELOPMENTS
10.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.19 GULF PETROCHEM GROUP
10.19.1 OVERVIEW
10.19.2 FINANCIAL PERFORMANCE
10.19.3 PRODUCT OUTLOOK
10.19.4 KEY DEVELOPMENTS
10.19.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.20 NAGARJUNA AGRICHEM LIMITED
10.20.1 OVERVIEW
10.20.2 FINANCIAL PERFORMANCE
10.20.3 PRODUCT OUTLOOK
10.20.4 KEY DEVELOPMENTS
10.20.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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