- Rise in meat consumption and high production of livestock, like cattle, swine and broiler are likely to drive the demand for animal feed additives. Methionine, threonine, tryptophan and lysine are broadly used in these additives. They also help regulate metabolic processes and maintain good health. Feed additives help livestock gain proper weight and grow faster.
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Increase in awareness regarding the advantages of these additives coupled with outbreak of diseases has prompted the increased consumption of feed additives. Growing per capita disposable incomes and population expansion in the regions of China, Asia Pacific and India would also fuel the demand for feed additives. Accentuating demand for feed additives is anticipated to boost the amino acids market further.
The demand for food and dietary supplements has also increased. This is due to improving health standards and ageing population. Both these factors are predicted to augment the demand for the worldwide amino acids market. The demand for dietary supplements in the U.S and U.K. is likely to be driven by rising obesity cases among the younger generation.
With rise in the ageing population of Brazil and Japan, the consumption of food dietary supplements is likely to accelerate. The demand for pharmaceutical applications has increased with higher purchasing power and rising living standards of consumers. Amplified demand for sweeteners in ready to drink beverages and convenience food items is anticipated to pose challenges for the amino acids market.
The prices of raw materials such as wheat, corn and soybean have increased in the last few years. This is estimated to affect the profitability of the amino acids market.
In 2014, the leading product of the market was L-Glutamate. It contributed almost half of the global amino acids market volume. L-Glutamate is generally used in the food and beverages industry. This is due to its flavor enhancing properties. Lysine, majorly used in the pork industry; and methionine, primarily used in the poultry industry, are widely consumed across the globe.
The leading source of the amino acids market in the past years was plant based raw materials. Wheat, soybean and corn based acids are broadly used in flavor enhancers, food & dietary supplements, pharmaceutical products and animal feed additives. This is owing to their health benefits.
In 2014, animal feed dominated the amino acids market globally. Methionine, threonine, tryptophan and lysine are majorly used in animal feed additives. This is due to their health benefits such as weight gain and high metabolism. The demand for amino acids in pharmaceutical applications is likely to grow significantly with increase in analgesics, antiperspirants and buffering agents. Food and dietary are the other key applications of the amino acids market. They are likely to experience imperative growth due to changing food habits.
Asia Pacific dominated the global amino acids market in 2014.The North American market is likely to experience average growth in the coming years. The European amino acids market is anticipated to go through moderate growth in the future. This is due to rising demand for food and dietary supplements in the region.
The key industry players of the amino acids market are Prinova U.S. LLC, Ajinomoto Co, Evonik Industries AG, ADM and Royal DSM. Royal DSM and Kemin Europa are incorporated across the entire value chain. Both these organizations use sesame seeds, soy meal and some others for the production of amino acids.
Information Source: Grand View Research
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