The amino acids market is evaluated at US$15.592 billion for the year 2019 growing at a CAGR of 4.37% reaching the market size of US$20.153 billion by the year 2025.
Amino acids are organic compounds that are combined to form proteins. These are highly essential compounds that are common to all the living things that range from microbes to humans. There are wide applications of amino acids in the food industry, pharmaceuticals, and animal feed which is a major factor supplementing the market growth globally during the course of the next five years. High applications of amino acids in dietary supplements due to their ability to treat muscle soreness and sprain and mental fatigue. Thus, a growing concern among the millennial population group in both developed and developing economies of the world has further supplemented the demand for amino acids, thus playing a positive role in the market growth until the end of the forecast period. Moreover, an increase in the health-savvy population particularly in the developed economies has further increased the consumption of healthy and nutritious food in their diets. This also plays a significant role in boosting the market growth during the next five years. Moreover, the constant participation by market players and numerous end-user companies in the launch of new amino acid products as well as new products in which the applications of amino acids is necessary further shows the growth potential of the market and the business growth opportunities over the course of the next five years.
The outbreak of the novel coronavirus disease is anticipated to moderately impact the market growth to some extent which is due to the fact that there was a temporary suspension in the manufacturing activities across the several end-user industries. However, a significant increase in the consumption of healthy foods to boost the immunity system is further expected to offset the impact in the coming time frame.
The market for amino acids is segmented on the basis of source, applications, type, and geography. On the basis of source, the classification of the market has been done into plant and animal. By application, the market has been segmented into food and beverages, dietary supplements, pharmaceuticals, and others. By type, the market has been distributed into alanine, glutamine, aspartic acid, and others. Geographically, the market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Plant-based amino acids to hold a significant share
By source, the plant-based amino acids are anticipated to hold a significant amount of share in the market throughout the next five years. There are a wide variety of sources used for the extraction of amino acids which include wheat, soya. The significant share of this segment is majorly supported by the higher amino concentrations and availability. Moreover, the growth of this segment is primarily attributed to the growing awareness of the consumers regarding the consumption of organic and naturally sourced products in both developed and developing nations of the world. Moreover, rising social awareness among the people regarding the slaughter of animals also plays a vital role in bolstering the growth of the plant-based amino acids market during the next five years.
Dietary supplements to witness a promising growth
By application, the dietary supplements segment of the amino acids market is anticipated to witness a promising growth, especially during the short run due to increased consumption of nutritious supplements amid the pandemic to boost the immunity system. However, on the other hand, the food and beverage industry is projected to hold a significant market share which is attributable to the fact that there are wide applications of amino acids in a variety of food products as flavor enhancers, preservatives, and nutrition enhancers. Moreover, the use of amino acids in food and beverages is also regulated by the FDA, which also supplements the share of this segment in the coming five years. The other applications of amino acids include animal feed and cosmetics among others. Amino acids are widely used as feed additives to regulate metabolism in livestock and supplement the protein requirements in a variety of livestock.
APAC to hold a significant share
By geography, the Asia Pacific region is anticipated to hold a significant market share which can be majorly attributed to the presence of a considerably large population base. Moreover, the growing adoption of healthy lifestyle coupled with the growing purchasing power of the people are some of the factors supporting the market growth in the Asia Pacific region in the coming five years. Moreover, the growing consumption of animal feed in countries like China and India further supplements the consumption of amino acids in the region, thus also positively influencing the market growth.
Key Developments in the market:
January 2020, The Marquie Group, Inc., an emerging company indulged in the manufacturing of beauty and wellness products announced the launch of a new range of slate of premium amino acid-based products to its health and beauty platform ahead of its upcoming launch.
December 2019, Kemin Industries Inc, a globally renowned ingredient manufacture announced the launch of nutrition products to its range and becomes the only provider of both rumen-protected amino acids Methionine and Lysine in a reliable way for the EMENA region
Prominent/major key market players in the amino acids market include Cargill, ADM, and Kerry Group among others. The players in the Amino acids market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the amino acids market.