The size of the Latin America Commercial amino acids market was USD 3.03 billion in 2022 and estimated to be growing at a CAGR of 8.10%, to reach USD 4.47 billion by 2027.
The demand for amino acids is increasing due to their growing demand to treat many medical conditions such as depression, sleep disturbances, muscular dystrophy, smoking cessation, neuropathy, attention deficit disorder with hyperactivity, etc. The developing economies in Latin America, along with the presence of the young population, are driving the Latin America commercial amino acids market in the forecast period. Amino acids are essential for normal bodily functions, and this is gaining awareness to help maintain good health. The food and beverage sector aims to develop nutritious food to meet the evolving demand for products fortified with essential nutrients. Healy food, especially fortified foods, supplementary diet food, and protein-rich food, has gained popularity in the pandemic to build strong immunity and fight against communicable diseases.
In addition, amino acid-rich food is also in demand with bodybuilders and athletes to improve their performance and help with muscle development. Essential amino acids are commercially available as energy drinks, nutrition bars, nutritional supplements, etc. The growing acceptance of meat as a vital source of protein and the growing awareness of a healthy lifestyle in high-income economies is driving the demand for amino acids commercially.
In addition, amino acids are used in animal feed to meet the protein requirements of animals. Therefore, the animal feed market is the main contributor to the growing demand for amino acids. Furthermore, there is constant research and developments in biotechnology to increase meat production and the increasing production of amino acids containing products such as protein shakes, etc. These are expected to drive the demand for amino acids consumption. The increased use of amino acids in dermatology for anti-aging and moisturizing properties is on-trend due to various advantages; this has opened up new opportunities for manufacturers and is anticipated to drive the Latin American commercial amino acids market during the forecast period.
However, fluctuation in raw material cost, unavailability of the products in specific regions, and lack of awareness are expected to hamper market growth during the forecast period negatively.
This research report on the Latin American commercial amino acids market has been segmented and sub-segmented into the following categories:
The commercial amino acids market in Brazil is estimated to be growing at a CAGR of 4% during the forecast period. Brazil dominated the Latin American market with a share of 40% in 2020. Factors such as increasing demand for dietary supplements, high disposable expenditure, and more animal feed demand are expected to boost the studied market over the next few years. According to a survey conducted by the national institute of statistics and geography, the annual production value of animal feed manufacturing in the country increased significantly by $ 0.8 billion in 2018.
The Mexican commercial amino acids market is expected to grow by around 4.3% CAGR, the highest number in terms of CAGR during the forecast period. This can be attributed to increased consumer expenditure, increased amino acid production, and increased exports of meat in the region. This growth is strongly driven by the development of cattle rearing and poultry farming in the country. As a result, there is high demand for poultry meat and eggs in the region. According to the industry reports, in 2019, 42 million metric tons of feed were produced.
Peru and Chile are other notable markets, growing at a CAGR of 3.4% and 3.5%, respectively, during the forecast period. The increased consumption of meat and meat products, dietary preferences, and growing research and development are expected to stimulate regional markets.
KEY MARKET PLAYERS:
A portion of the organizations in this industry is Ajinomoto, RSP amino acids, Biaffin, AnaSpec, ChemPep Inc, IRIS Biotech, PepTech Corporation, and Synthetech. Ajinomoto is one of the foremost makers of amino acids. It offers amino acids for research, item improvement, and process advancement. It has created and utilized inventive systems to make these acids.
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