Methionine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Methionine Market Analysis
The global methionine market is estimated to reach over 1,500 kilotons by the end of this year and is projected to register a CAGR of over 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020 and until mid-2021. The transportation limitations implemented across the world in response to the pandemic disrupted the supply chain of major raw materials required for methionine production like sulfur, methanol, ammonia, propylene, etc. This slowed down methionine production in several countries. The lockdown also slowed down the operations of several end-user industries in the market studied, which resulted in reduced demand for methionine in comparison to the pre-COVID-19 period. However, the market started recovering in early 2021, owing to increased animal feed and pharmaceutical activities.
- Over the medium term, emerging demand from the aquaculture industry and growing demand from the poultry industry are driving the growth of the market. The demand for processed and ready-to-eat foods, particularly frozen foods, is rising globally as increasingly time-pressed consumers have embraced the convenience of freezer and microwave cooking. Demands such as these are driving the growth of the poultry industry, which in turn is driving market growth.
- However, the complex process of manufacturing methionine is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the gradually changing market dynamics toward eco-friendly means of extracting methionine are likely to create lucrative growth opportunities for the global market soon.
The Asia-Pacific region accounted for the largest share, and it is expected to register the highest CAGR during the forecast period.
Methionine Market Trends
This section covers the major market trends shaping the Methionine Market according to our research experts:
Increasing Demand from the Animal Feed Segment
- The animal feed segment dominated the methionine market. For the cattle, poultry, swine, and aquaculture industries, methionine is used as an additive in the feed. Methionine is essential for all animals and is used as an ingredient to help animals meet the necessary health requirements. Animals cannot produce methionine in their bodies, so it is provided to them in their feed as a nutritional additive.
- Methionine helps improve the efficiency of the utilization of protein in animals. It also aids metabolism, quick growth, and muscle bulk growth. These products also help with sustainable production and improve the environment.
- The rising incidences of animal diseases have led to the increased use of methionine in animal feed in various regional markets. Asia-Pacific and North America have higher demands for maintaining adequate metabolism rates in livestock. Consumer awareness has also grown in this segment, which has increased the demand for animal feed.
- The Food and Agricultural Organization (FAO) estimates that the world will have to produce 60% more food by 2050, and it is believed that animal protein production will grow even more-meats (poultry/swine/beef) will double, as well as dairy and fish production, which will almost triple by 2050.
- According to the Office for National Statistics, the total value of sales from the manufacture of prepared feeds for farm animals in the United Kingdom was valued at GBP 5,141 million (USD 6308.78 million) in 2021.
- The US Department of Agriculture says that the value of broiler production reached USD 21.21 billion and is expected to grow to USD 31.52 billion in 2021.
All such growth-depicting factors in animal feed consumption are, in turn, driving the market for methionine, which forms a part of animal feed.
China to Dominate the Asia-Pacific Market
- China's methionine demand is rising faster than the global average due to the rising demand for meat products from China's wealthy middle class. The enormous growth can be explained by the surging demand for animal feed used in the livestock and farming industries. Since the population almost doubled to 1.4 billion people, the country's demand for meat and animal feed has exploded.
- Recently, the development of China's aquaculture industry accelerated hugely. The capacity of pork eggs and livestock was also first in the world.As per the Ministry of Agriculture of China, China's total production volume of cultured fish and other aquatic animals from marine and coastal aquaculture will amount to approximately 19.4 million metric tons in 2021. China is by far the largest producer of mollusks from aquaculture in the world.
- Furthermore, China is the second-largest market for pharmaceuticals globally. According to the China Pharmaceutical Enterprises Association, the pharmaceutical revenue of the country is valued at CNY 3,304.93 billion (USD 473.47 billion) in 2021. The country has a large and diverse domestic drug industry, comprising around 5,000 manufacturers, of which many are small or medium-sized companies.
- Another end user of the food and beverage industry in China is also growing at a rapid pace. China accounts for almost one-fourth of the total global population, and the country hosts one of the most rapidly developing consumer markets in the world. According to the National Bureau of Statistics of China, the country's profits from the food industry are valued at CNY 618.71 billion (USD 88.64 billion) in 2021.
All of these things will affect the market for methionine in China over the next few years.
Methionine Industry Overview
The global methionine market is highly consolidated in nature. Key players in the methionine market include Adisseo, Evonik Industries AG, NOVUS INTERNATIONAL, Sumitomo Chemical Co. Ltd., and Chongqing Unisplendour Chemical Co. Ltd., among others.
Methionine Market Leaders
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Adisseo
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Evonik Industries AG
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Sumitomo Chemical Co. Ltd
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NOVUS INTERNATIONAL
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Chongqing Unisplendour Chemical Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Methionine Market News
- September 2022: Adisseo started liquid methionine production through its 180,000-ton new plant in Nanjing, China. The company has doubled its methionine capacity to 350,000 tons through its operational new plant consolidating its leading position in the world.
- March 2022: Evonik announced its expansion project at its mobile area manufacturing facility in Theodore, Alabama to bolster its animal nutrition business line producing methyl mercaptan to manufacture its MetAmino (DL-methionine) product. The company has invested USD 176.5 million in the expansion project.
Methionine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand from the Poultry Industry
- 4.1.2 Emerging Demand from the Aquaculture Industry
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4.2 Restraints
- 4.2.1 Complex Process of Manufacturing Methionine
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Type
- 5.1.1 Liquid
- 5.1.2 Powder
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5.2 End-user Industry
- 5.2.1 Food and Beverage
- 5.2.2 Pharmaceutical
- 5.2.3 Animal Feed
- 5.2.4 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Adisseo
- 6.4.2 Chongqing Unisplendour Chemical Co. Ltd
- 6.4.3 CJ CheilJedang Corp.
- 6.4.4 Evonik Industries AG
- 6.4.5 NOVUS INTERNATIONAL
- 6.4.6 Sumitomo Chemical Co. Ltd
- 6.4.7 Volzhsky Orgsynthese JSC
- 6.4.8 Zhejiang NHU Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Eco-friendly Means of Extracting Methionine
Methionine Industry Segmentation
Methionine is an essential amino acid, which is of great importance to human and animal bodies. It helps in the formation of many substances containing protein, along with sulfur-containing amino acids. The methionine market is segmented by type, end-user industry, and geography. By type, the market is segmented into liquid and powder. By end-user industry, the market is segmented into food and beverage, pharmaceutical, animal feed, and other end-user industries. The report also offers market size and forecasts for 15 countries across major regions. For all the above segments, market size and forecasts have been done on the basis of volume (in kilo tons).
| Type | Liquid | |
| Powder | ||
| End-user Industry | Food and Beverage | |
| Pharmaceutical | ||
| Animal Feed | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Methionine Market Research FAQs
What is the current Methionine Market size?
The Methionine Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Methionine Market?
Adisseo, Evonik Industries AG, Sumitomo Chemical Co. Ltd, NOVUS INTERNATIONAL and Chongqing Unisplendour Chemical Co., Ltd. are the major companies operating in the Methionine Market.
Which is the fastest growing region in Methionine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Methionine Market?
In 2024, the Asia-Pacific accounts for the largest market share in Methionine Market.
What years does this Methionine Market cover?
The report covers the Methionine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Methionine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the potential future opportunities for the Methionine Market?
The potential future opportunities for the Methionine Market are a) Growing demand for methionine as a renewable and eco-friendly alternative to traditional petroleum-based materials b) Growing demand for personalized nutrition could lead to an increased interest in methionine supplement
Methionine Industry Report
The global methionine market is experiencing significant growth, driven by increasing demand across various sectors including aquaculture, pharmaceuticals, and particularly in animal feed, where it is used as a nutritional additive to meet health requirements of livestock. Witnessing a shift towards eco-friendly extraction processes and a rising popularity of bio-based products, the market is poised for continued expansion, offering lucrative opportunities for stakeholders in the coming years. Dominated by Asia Pacific, led by China, due to its large population and growing middle class, the demand for meat products and consequently, animal feed, has escalated. North America is also showing rapid growth, attributed to high consumption rates of poultry and the use of methionine in animal feed. Segmented by type into liquid and powder, liquid methionine is expected to dominate due to its higher consumption worldwide, while the food and beverage sector is anticipated to lead the market, leveraging methionine to replace vitamins and minerals lost during food processing. Despite challenges such as complex manufacturing processes and fluctuating prices due to oversupply, statistics from Mordor Intelligence™ Industry Reports highlight the methionine market's share, size, and revenue growth rate, including a market forecast outlook and historical overview. For a deeper dive into this industry analysis, a free report PDF download is available.
