by Market Overview:
Amino acids are organic compounds that combine to form proteins. They support various bodily functions, such as building muscle mass, producing hormones and neurotransmitters, boosting metabolism and immune system. There are twenty standard amino acids that are commonly found in proteins. Amino acids find wide applications in dietary supplements, animal feed, pharmaceuticals, food & beverages and personal care products industries. Growing inclination towards health and wellness is driving the demand for protein-rich and nutritional supplements, which in turn is supporting the growth of amino acid market.
Market key trends:
One of the major trends in the amino acid market is the growing demand for plant-based proteins. With increasing vegan population worldwide, manufacturers are developing plant-based amino acid supplements to cater to the evolving needs. Another notable trend is the increased use of amino acids in sports nutrition and wellness products. Branched-chain amino acids (BCAA) supplements are gaining popularity among athletes and gym-goers for muscle building and recovery. Rising applications of amino acids in animal feed industry is another key trend, with feed manufacturers incorporating amino acids feed for immunity, growth and performance of livestock and aquaculture animals.
The global Amino Acid Market Demand is estimated to be valued at US$ 27.4 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Amino Acid Market is low due to high capital requirement and presence of dominant players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of substitutes. However, demand for amino acids is growing leading to less impact of buyer power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw materials for amino acid production are available globally.
Threat of new substitutes: The threat of substitutes is moderate as amino acids have limited substitutes and there is always a scope of developing new applications.
Competitive rivalry: High due to the presence of many global and domestic players with considerable market presence.
Key Takeaways
The global Amino Acid Market is expected to witness high growth, exhibiting a CAGR of 8.4% over the forecast period, due to increasing demand from food & beverages and animal feed industries.
North America dominates the global amino acid market, followed by Asia Pacific and Europe. Growing demand for processed and packaged food items coupled with rising meat consumption is driving the amino acid market in North America. However, Asia Pacific is expected to witness the fastest growth due prevalence of a large livestock population and rising animal feed production.
Key players operating in the Amino Acid Market are Ajinomoto Co., Inc., KYOWA HAKKO BIO CO., LTD., AMINO GmbH, Bill Barr & Company, IRIS BIOTECH GMBH, Taiwan Amino Acids Co. Ltd., BI Nutraceuticals, Sichuan Tongsheng Amino acid Co., Ltd, Wacker, Chemie AG, Adisseo, and CJ CheilJedang Corp. These companies are focusing on capacity expansion and new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
