Methionine Market Size (2024 - 2029)

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 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).