Report: Global amino acids market to reach $11.6 billion by 2015
The market for amino acids suffered from the economical crisis in 2008 and 2009. With the recovery of the economy and new demand it is expected that it will reach $1.6 billion in 2015, according to a report from Global Industry Analysts, Inc.
Animal feed additives represent a major end-use market for amino acids globally. Generally, feed additives are preferred to provide livestock, poultry, and other animals with adequate nutrients in their diet to address any deficiencies.
Various amino acids such as lysine, methionine, tryptophan, and threonine are used as feed additives. Methionine is a widely used amino acid in poultry feed and cattle feed.
Of late, lysine is increasingly finding application as the most preferred amino acid additive in animal feed particularly for poultry and swine feed.
Asia-Pacific largest market
Asia-Pacific represents the largest regional market for amino acids worldwide, as stated by the new market research report on Amino Acids. The region also predominates the world amino acids production scenario.
Extensive usage of monosodium glutamate (MSG) over the past several years resulted in huge growth in the overall Asia-Pacific amino acids market.
In addition, increased demand for amino acids from the Chinese animal feeds sector significantly reinforced the Asian dominance in the global market.
Latin America is poised to demonstrate the fastest compound annual growth rate (CAGR) of 4.7% over the analysis period.
Glutamic Acid or glutamate represents the largest product segment within the amino acids market and is mainly used in human food as MSG.
Lysine growth potential
Lysine represents the fastest growing amino acids segment. Lysine is a critical additive in animal feed production.
Globally, multi-polar developments are leading to intense competition within the lysine market, with China emerging as a crucial market for lysine production. Market for lysine is poised to demonstrate a CAGR of 5.4% over the analysis period.
Major players profiled in the report include Ajinomoto Group, Archer Daniels Midland Company, CJ Cheil Jedang, Daesang Corporation, Evonik, Kyowa Hakko Kirin Group, Novus International Inc., Royal DSM N.V., Sekisui Medical Co. Ltd., and Toronto Research Chemicals Inc.
For more details about this comprehensive market research report, go to Global Industry Analysts, Inc.
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