The methionine market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period. The proactive factor that drives the market growth includes the growing requirement for nutritious food across the globe, as a result of the growing urbanization and increasing population. Furthermore, the extensive nutritional advantages provided by methionine such as strengthening the immune system, and aids metabolism, quick growth, and muscle bulk growth, to animals and humans through various products such as eggs, fish, meat, milk, beef, and other dairy products is projected to fuel the market growth. According to the US Department of Agriculture, beef and cattle production was raised by $224.1 million from $31.9 billion in 2022.Further, in 2022, the US beef exports set a record at $331.0 million pounds, about 17% above from 2021. Moreover, according to the US Dairy Export Council (USDEC), the US export volume last year increased 10% over 2020 to more than 2.3 million metric tons (MT) of milk-solid equivalent, and the value rose 18% to $7.75 billion. As per the same source, the US farm and food products to the world totaled $177 billion, topping the 2020 total by 18% and eclipsing the previous record set in 2014 by 14.6%.
Browse the full report description of “Methionine Market Size, Share & Trends Analysis Report by Type (L-Methionine, Methionine Hydroxy Analog (MHA), and DL-Methionine), and by Application (Animal Feed, Food and Beverage, and Pharmaceuticals) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/methionine-market
Furthermore, methionine is highly used as antioxidant which aid in protecting body from the damage caused by ionizing radition. This is the major benefit offered by methionine, which has accelerated the market players such as CJ CheilJedang Corp., IRIS Biotech GMBH, and Evonik Industries Inc. to adopt numerous strategies such as partnership, collaboration, and expansion aiming to stay competivie in the market and offer benefits. For instance, in June 2019, Evonik unveiled its second complex for the production of MetAMINO (DL-methionine) in Singapore. The plant has an annual production capacity of 150,000 MT of DL-methionine elevating Evonik’s annual global capacity to approximately 730,000 MT.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape – Evonik Industries Inc., Phibro Animal Health Corp., AnaSpec Inc., Bio-Techne, CJ CheilJedang Corp., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Methionine Market Report Segment
By Type
By Application
Global Methionine Market Report Segment by Region
North America
• United States
• 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
• Latin America
• Middle East & Africa
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