Methionine Market

Global Methionine Market Size (2024 to 2029)

As per our analysis report, the global Methionine Market is expected to reach USD 6.01 billion by 2029 from USD 4.59 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.54 % during the forecast timeline. The increased awareness about the maintenance of health and well-being has increased people’s concentration on nutritious food and has created a demand for the methionine market. The food & beverages segment is expected to dominate the market share and is expected to be the fastest-growing segment in the market.

Global Methionine Market Drivers:

The increased awareness about the importance of protein for a healthy body has raised the consumption of meat among the population across the globe. The growth of the demand for the protein source is expected to drive the methionine market. Methionine is an essential amino acid that is commonly used in animal nutrition as a feed additive, mostly for swine and poultry. Animals cannot synthesize methionine in their bodies, so it is provided through an external source as a nutritional additive in the feed. As it is an important nutrient for the growth of animal health, the significant increase in the demand for meat would result in the increased requirement of methionine, leading to the growth of the market. Across certain regions, the rise in the incidence of animal diseases led to the utilization of methionine in animal feed. 

The rising demand for dietary supplements among consumers would drive the growth of the methionine market during the forecast period. This rise in demand is expected to be an opportunity for the market to increase its sales and increase the target customers to have a notable market share in the global market. The cosmetics and pharmaceutical industries also utilize methionine in their formulation of products due to its beneficial properties. With the increase in the expansion of these industries, the demand for methionine is also expected to grow at an exponential rate, creating an opportunity to fuel market growth and expansion.

Global Methionine Market Restraints:

The stringent regulatory norms are considered one of the major restraints to the methionine market during the forecast period. The regulatory requirement includes the maximum allowable limits, quality standards, and safety norms, which increase compliance costs and create complexity for methionine manufacturers. Keeping to these stringent norms requires a significant investment in research and development, testing, and documentation, which impact the market's competitiveness and pose challenges for the market players. The present scenario of shortage of raw materials and delayed shipping hinders market growth. There is an impact on the pricing and availability of the products due to the slowdown in economic activity, which creates difficulties for the industries.

Impact of COVID-19 on the Methionine Market:

The COVID-19 pandemic has had a significant impact on the methionine market. It is an essential amino acid used in the preparation of animal feed and pharmaceuticals. Supply chain disruptions, fluctuations in demand and supply, price volatility, and logistic challenges are a few restraints that caused a negative impact on the market during the period. Lockdowns and restrictions on social gatherings have hampered the raw material supply to the manufacturers and created temporary closure of the unit. This caused price fluctuations both in the raw materials and final products. There is a reduction in the consumption of meat due to the closure of restaurants and hotels. The pandemic has caused a slowdown in the nation's economy and, at the individual level, has impacted the usage of methionine. The interruption in international and domestic trade is due to logistic restrictions and the closure of borders that affect exports and imports. The pandemic caused an increase in awareness about biosecurity and focused on animal health and resilience, resulting in the increased demand for the methionine market. The rise in the demand for high-quality animal feed is driving demand for efficient methionine products.

REPORT COVERAGE:

This research report on the global methionine market has been segmented and sub-segmented based on type, raw material, application, and region.

Global Methionine Market – By Type:

• L-Methionine
• Methionine Analog (MHA)
• Dl-Methionine

The Dl-Methionine segmental type is expected to have a large market share in terms of revenue in the methionine market during the forecast timeline. D-methionine and L-methionine together form the DL-methionine, and L-methionine is the pure L-form of amino acid.

Methionine Analog (MHA) is a synthetic form of methionine that is commonly used in animal feed. The wider availability and low cost compared to L-Methionine are the major attributes of the dominance of the DL-Methionine segment in the market. In the animal industry, DL-Methionine is commonly used as a feed additive.

Global Methionine Market – By Raw Material:

• Plant-based
• Animal-based 

The plant-based raw material segment holds a high market share in the methionine market during the forecast period. This is due to the shift in consumers' concern about sustainability; they are seeking eco-friendly products. Technological adoption has made cost-effective pricing an attractive option for manufacturers. There is an increase in the new findings about the application of plant-based methionine in food and pharmaceutical industries.

Global Methionine Market – By Application:

• Animal Feed
• Food and Supplements
• Pharmaceuticals
• Others

The food & beverage segment is expected to dominate the methionine market and is anticipated to be the fastest-growing segment in the market. The numerous health benefits associated with amino acids, such as methionine, favor the growth of methionine-enriched food products in the market. Amino acids such as methionine are essential and play a vital role in human health. They are recognized to boost immunity, improve digestion, and prevent fatigue. In addition to this, methionine is used as a dietary supplement in the treatment of several health illnesses, such as liver diseases, anemia, and depression. Such factors favor the growth of methionine products and have a positive impact on the market.

The pharmaceutical segment is also expected to witness significant growth in the methionine market in the coming years owing to the use of methionine as one of the raw materials in the production of vitamins.

Global Methionine Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The Asia-Pacific region accounts for one of the largest market shares in the methionine market owing to the growing demand for animal feed in the region and the increased number of consumers of methionine. Methionine is used as an important ingredient in animal feed as it is an essential nutrient for animal growth, which needs to be supplied externally because it can’t be synthesized by the animal. In this region, China is one of the major producers of methionine in the world. The demand for methionine in this region is driving the market growth. 

Europe is another of the largest methionine markets in the world, as it is home to some of the largest producers of amino acids. The consumers of the amino acids in their dietary supplements are also large in number in this region. Methionine is known for its wide range of health benefits, such as inflammation and protect the liver. As more and more people are concentrated on health and well-being, demand for methionine supplements is likely to grow. With favorable growth factors, Europe’s methionine market is expected to continue to be a key player. In this region, Germany has the largest market share, and the U.K. methionine market is accounted for having the fastest growth rate.

North America has been dominant in the methionine market for the past several years, and it is expected to continue in the coming years. The strong demand from the key market areas of this region, such as the U.S. and Canada, is benefiting the producers of this region and helps to maintain a reasonable margin. The reinvestment is done in their company operational activities that help them expand their production capacity. This has resulted in North America being well-positioned in the methionine market in the past and present. Along with this, the U.S. has the largest market share, and Canada is the fastest-growing market in the North American region.

KEY MARKET PLAYERS:

Major Key players in the market are Evonik Industries AG, Ajinomoto Co.Inc., Prinova Group LLC, Beijing Fortunestar S&T Development Co. Limited, KG Information System Private Limited, and Tokyo Chemical Industries Co. Ltd, Volzhsky Orgsynthese JSC, Phibro Animal Health Corporation, Shaanxi Sciphar Natural Products co.Ltd, Prinova Europe Limited, Chongqing Unisplendour Chemical Co., Ltd, Adisseo

RECENT HAPPENINGS IN THE MARKET:

• In 2022, A new liquid methionine product plant was started by Adisseo in Nanjing, China, with a capacity of 180,000 tons per year. The company previously had a 350,000 tons capacity, which has been doubled with the new establishment and has consolidated to have a leading position in the world.
• In 2022, A new plan to invest USD 176.5 million in the expansion project was announced by Evonik in the manufacturing area facility of Theodore, Alabama. To boost the animal nutrition business line, which is producing methyl mercaptan to manufacture its MetAmino (DL-methionine) product.