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Home Business Global Amino Acids Market Is Expected To Reach Nearly US$ 42 Billion...

Global Amino Acids Market Is Expected To Reach Nearly US$ 42 Billion By 2028: Ken Research

Amino acids are the building blocks of protein and play a vital role in the human body. They are organic compounds involved in several chemicals and biological functions in the human body including the synthesis of hormones, the building of proteins, and others. Amino acids are essential for the proper growth and development of living beings.

Amino acids are categorized into essential, non-essential, and conditionally essential, based on different factors. They are widely used in various industries namely food & beverages, animal feed, dietary supplements, cosmetics, and others.

According to Ken Research Analysis, the Global Amino Acids Market is expected to record a positive CAGR of ~7% during the forecast period (2022-2028) and is expected to reach nearly US$ 42 billion by 2028, owing to the growing demand for functional food products and immunity boosting products.

Global Amino Acids Market

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Adoption of a healthy lifestyle and increasing consumption of proteins are some of the factors driving the market growth.

  • The surge in demand for amino acids in various industries including food and beverages, dietary supplements, and others to fulfill the growing demand for amino acids-rich products that offer functional benefits, is anticipated to augment the growth of the market.
  • The increase in health-conscious consumers and rising awareness regarding the benefits of amino acids such as maintaining healthy skin, hair, and nails, boosting immunity, helping in the growth and repair of body tissue, and others are expected to boost the demand for amino acids.

The Global Amino Acids Market faces challenges due to stringent regulations laid by governmental bodies on products containing amino acids.  

  • The government has imposed strict regulations on products containing amino acids that may hamper the growth of the Global Amino Acids Market. Additionally, the requirement of significant investment for the storage of amino acids and its products may slow down market growth.

Global Amino Acids Market

The COVID-19 pandemic negatively impacted the Amino Acids market initially due to the imposed lockdowns, the manufacturing process of amino acids and its product got disturbed which resulted in the disruption of the supply chain. However, due to the spread of the virus, consumers shifted towards the immunity-boosting product which increased the demand for amino acids in the food & beverages industry, nutraceutical industry, pharmaceutical industry, and others.

Key Trends by Market Segment:

By Source: The Plant-Based segment held the largest share of the Global Amino Acids Market in 2021, owing to the increasing preference for naturally sourced products.

  • The demand for plant-based ingredients and products is increasing rapidly due to the rise in vegan and vegetarianism, especially in high-income countries, which is expected to fuel the demand for plant-based amino acids.

Global Amino Acids Market

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By Type: Glutamic Acid segment accounted for the largest share of the Global Amino Acids Market in 2021, due to the increasing demand for glutamic acid products in the animal feed industry.

  • L-glutamate or glutamic acid is widely used as a flavor enhancer, nutritional supplement, feed additive, intermediate for manufacturing chemicals, and others, which is increasing its demand in various industries.

By Application: Food and Beverages segment accounted for the largest share of the Global Amino Acids Market in 2021, owing to increasing demand for amino acids in the food and beverages processing industry as nutrition enhancers, flavor enhancers, preservatives, and others.

  • The surging demand among consumers for protein-rich, healthy food and beverage products that contain amino acids as ingredients is expected to propel the growth of the segment in the market.

By Geography: Asia-Pacific region accounted for the largest share of the Global Amino Acids Market in 2021, owing to the growing adoption of a healthy lifestyle and nutrition-enriched products among consumers.

  • The increasing consumption of processed food and meat coupled with the availability of an abundance of raw material for the production of amino acids coupled with increased consumer spending on immunity-boosting products containing amino acids as an ingredient, is anticipated to augment the growth of the Global Amino Acids Market.

Global Amino Acids Market

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Competitive Landscape

The Amino Acids Market is highly competitive with ~200 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Amino Acids.

  • Country-niche players comprise ~60% of the competitors, while the regional players comprise the second highest, ~25% of the total number of competitors. Some of the major players in the market include Global Bio-chem Technology Group Company Limited, Ajinomoto Co., Inc., Kyowa Hakko Bio Co., Ltd., Amino GmbH, Cargill, Incorporated, Taiwan Amino Acid Co., Ltd., Evonik Industries AG, ADM, Merck KGaA, and Daesang, among others.

The leading amino acids companies such as Evonik Industries AG, KYOWA HAKKO BIO CO., LTD., ADM, and Cargill, Incorporated are highly focused on strategic developments related to amino acids such as product launches, collaboration, acquisition, and others to hold their position in the market.

Global Amino Acids Market

Recent Developments Related to Major Players

  • In September 2020, Evonik Industries AG launched GuanAMINO, a new guanidino acetic acid product (GAA) that is used to enhance energy metabolism in livestock production. The company aimed to fulfill the demand for creatine supplementation in the animal feed industry.
  • In February 2020, Amino GmbH invested US$ 35 million to build a new production facility in Germany. The company aimed to double its production to meet the growing demand for amino acids and to increase its supply and availability of amino acids globally.

Conclusion

The Global Amino Acids Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is forecasted to continue a moderate growth, primarily driven by the surging demand for amino acids in various industries such as food & beverages, animal feed, nutraceuticals, and others. The rising awareness regarding the health benefits of amino acids along with the increase in health-conscious consumers is expected to increase the demand for immunity-boosting products, which ultimately increase the demand for amino acids. Though the market is highly competitive with ~200 participants, global players control the dominant market share in terms of revenues.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks. 

Market Taxonomy

By Source     

  • Plant-Based
  • Animal-Based
  • Synthetic

By Type         

  • Lysine
  • Tryptophan
  • Methionine
  • Threonine
  • Glutamic Acid
  • Phenylalanine

By Application

  • Food and Beverages
  • Animal Feed
  • Nutraceutical and Dietary Supplements
  • Cosmetic and Personal Care
  • Pharmaceuticals

By Geography

  • North America

USA

Canada

Mexico

  • Europe

Germany

UK

France

Spain

Italy

  • Asia-Pacific

China

Japan

South Korea

India

Indonesia

Australia

  • LAMEA

Latin America

Middle East

Africa

Key Players  

  • Global Bio-chem Technology Group Company Limited
  • Ajinomoto Co., Inc.
  • Kyowa Hakko Bio Co., Ltd.
  • Amino Gmbh
  • Taiwan Amino Acid Co., Ltd.
  • Evonik Industries AG
  • ADM
  • Cargill, Incorporated
  • Merck KGaA
  • Daesang
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