The Methionine Market was valued at USD 4,282.26 million in 2023 and is expected to grow at a robust CAGR of around 6.50% during the forecast period (2024-2032) driven by the increasing demand for animal feed, pharmaceuticals, and dietary supplements. Methionine's essential role in protein synthesis, liver health, and metabolism underscores its rising significance across industries.
The Methionine Market is witnessing steady growth within the forecast period. The major factor contributing to the growth of the market is the rising need for methionine as a component of animal nutrition, pharmaceuticals, food, and dietary supplements. Methionine is a sulfurous amino acid that is important in protein production, liver care, and metabolism. The overall market, however, has experienced substantial growth over that period because of high health concerns from people and hence the need for normal health consumption. Additionally, an increase in usage is further explained by the expansion of the fodder industry, especially with the increased global demand for meat and milk products. Additionally, a growing demand of the benefits of amino acids for human health and several expanding corresponding industries are supportive of the growth of this market. For instance, in November 2023, Evonik Industries completed the expansion of its DL-methionine production facilities in Singapore in response to increased demand for animal feed additives worldwide. This exemplifies the emergence of the sector in terms of increasing production capacity while optimizing the supply chain.
Shift Toward Bio-Based Methionine Production
One relevant development in the methionine industry is the growing adoption of bio-based methionine. The transition is emanating from the elevated awareness of recycling, the external forces of regulations, and the increasing customer demand for environment-friendly solutions both in animal nutrition and human health. The common methods of methionine manufacture extensively depend on petrochemicals, which have been strongly censured for their intolerable ecological impact such as greenhouse emissions and high natural resources use. Nevertheless, bio-based methionine provides a greener approach, by use of renewable sources and applying biotechnology in its manufacture. For instance, In March 2024, Novus International, Inc. completed the acquisition of BioResource International, Inc. (BRI), a U.S.-based enzyme company. Through this move, Novus holds the products, intellectual property, and infrastructure of BRI to its customer benefit and further enhances the enzyme portfolio and capabilities for innovation. Additionally, regulatory frameworks encouraging bio-based product adoption include the European Union's Green Deal and the U.S. Inflation Reduction Act. At the same time, consumer interest in the environmental footprint of food production leads to livestock farmers and feed producers becoming more aware about sustainable additives such as bio-based methionine usage.
The Asia Pacific methionine market is expected to dominate in the forecast period. The major factors contributing to the growth of the market are the rising livestock sector, rising demand for meat, and the government’s efforts to promote food security. Countries like China and India have a major impact due to the large population and the rising need for dietary proteins. In May 2024, the Ministry of Agriculture of China issued a statement on the incentives for feed additives based on amino acids, making it easier to use methionine. Due to the increasing population and income levels in the region, there has been an upsurge in the protein dominated diets which has increased the demand of feed additive methionine and others, for improving the productivity of livestock. Methionine is used considerably within the high growing poultry and livestock sectors in the region to enhance the feed conversion ratios and mitigate the adverse effects on the environment. Therefore, in 2023, China, being the highest consumer of pork, there was an increasing demand for methionine from the swine market owing to the recovery of China’s piggery from a Contagious disease outbreak, African swine fever. Moreover, the demand in the region was mainly met by major players like Evonik Industries and Adisseo who increased their regional production capacity expansion. Additionally, regional policies have been on the promotion of sustainable agriculture as an effort to conform to the global environmental policy. For instance, in its 14th five-year period, (2021-2025), there are sections in the five-year plan which address lowering carbon emissions and promoting clean dairy productions within the frame which encourages the use of methionine in livestock feeds. In the same lines, India has launched schemes for feeding animals with amino acid feed additives leading to more increases in methionine utilization.
The methionine market is competitive and concentrated, with few global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some major players operating in the market are Evonik, Adisseo, Novus International, Inc., CJ CHEILJEDANG CORP., Kemin Industries, Inc., KYOWA HAKKO BIO CO., LTD., Pfanstiehl, Inc., Sumitomo Chemical Co., Ltd., Ajinomoto Co., Inc., and Prinova Group LLC.
In 2023, Adisseo, one of the prominent firms producing feed additives- made an announcement regarding the construction of a new facility for producing powdered methionine in Fujian Province, China. With an intended annual output of 150,000 tons, the project worth approximately RMB 4.9 billion will begin operations in 2027.
In March 2024, Evonik Industries released its second edition of MetAMINO® ATLAS, which now includes a collection of 19 additional performance trials concerning the relative bioavailability of various supplementary methionine sources in animals’ diets. The new studies also reaffirm that 65 units of MetAMINO® are capable of displacing 100 units of methionine hydroxy analog free acids and calcium salts of which (MHA-FA/Ca) in poultry, swine, and aquaculture feeds without impeding their animal performance.
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
The global methionine market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Methionine Market Revenue (USD Mn), 2022-2032F
7. Market Insights By Type
8. Market Insights By Application
9. Market Insights By Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global methionine market were the three major steps undertaken to create and analyze the adoption of methionine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global methionine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the methionine through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the methionine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the methionine. Further, we conducted factor analysis using dependent and independent variables such as type and application of the methionine market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the methionine market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global methionine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the methionine market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global methionine market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global methionine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type and application in the global methionine market.
The current & future market trends of the global methionine market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the methionine market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas of the type and application.
Define and analyze the regulatory framework for the methionine
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the methionine market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the methionine market and the growth strategies adopted by the market players to sustain in the fast-growing market.
Deep dive regional level analysis of the industry
Q1: What is the current market size and growth potential of the methionine market?
The methionine market was valued at USD 4,282.26 million in 2023 and is expected to grow at a CAGR of 6.50% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the methionine market?
The increasing demand for animal feed, pharmaceuticals, and dietary supplements primarily drives the methionine market.
Q3: Which segment has the largest methionine market share by Type?
The DL-Methionine segment has the largest methionine market share by Type.
Q4: What are the emerging technologies and trends in the methionine market?
The shift toward bio-based methionine production is one of the significant trends in the methionine market.
Q5: Which region will dominate the methionine market?
Asia Pacific is expected to dominate the market during the forecast period.
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