Methionine market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period. The major growth factors of the market include expanding consumer choices and rising health awareness increases in the demand for protein-rich foods such as meat, dairy products, seafood, among others. In addition, the rising application of DL-methionine in poultry, pharmaceutical industry, and animal feed industry owing to the high demand for high-quality feedstocks is another factor driving the market growth. The contribution of major players by adopting various strategies such as partnership, expansion, and collaboration has also been increased owing to the rising demand, which in turn will further bolster the market growth. For instance, in October 2020, Evonik expanded its DL-methionine production hub at three locations, Americas, Europe, and Asia to maximize economies of scale and utilize robust processes. This expansion has also strengthened the competitiveness by further improving its cost position.
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Apart from this, the high cost of raw material, various programs promoting vegetarianism, and declining consumption of poultry products are some factors expected to hamper the growth of the methionine market over the forecast period
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Methionine Market by Type
- L-Methionine
- Methionine Hydroxy Analog (MHA)
- DL-Methionine
Global Methionine Market by Application
- Animal Feed
- Food and Beverage
- Pharmaceuticals
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Adisseo France SAS
- Agrolife GmbH
- ajinomoto Co., Inc.
- AnaSpec Inc.
- Bio-Techne
- CJ CheilJedang Corp.
- IRIS Biotech GMBH
- Kingchem Life Science LLC
- Kyowa Hakko U.S.A. INC.
- Novus International Inc.
- Prinova Group LLC.
- TCI AMERICA
- Welding GmbH & Co. KG.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global methionine market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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