“The food amino acids market is projected to grow at a CAGR of 7.8%”
The food amino acids market is projected to reach USD 6.82 billion by 2022 at a CAGR of 7.8%, from 2016 to 2022. The market is driven by factors such as rising demand for healthy and nutritious food, growing concerns of consumers regarding healthy lifestyles, rising demand for processed and convenience foods, and growing demand for innovative food & beverage products due to changing consumer trends. Factors such as high cost involved in R&D activities & production and stringent regulations are restraining the market.
“The phenylalanine segment is projected to be the fastest-growing market, by type, during the review period"
Monosodium glutamate (MSG) or sodium salt of glutamic acid is widely used as a food additive in the food industry. It is used in various food products such as snacks, savory dishes, and ready-to-eat (RTE) products. Growth of convenience foods market is boosting the demand for glutamic acid. Hence, the demand for the glutamic acid market is anticipated to expand significantly during the forecast period, due to rise in application of glutamic acid as a flavor enhancer coupled with increase in population, high disposable income, growth in demand for ready-to-eat food, and superior quality of food. Phenylalanine, on the other hand, is the fastest-growing market due to its wide usage in the manufacturing of food and drink products which are sold as nutritional supplements for their reputed analgesic and antidepressant effects. Phenylalanine is a direct precursor to the neuromodulator phenethylamine, which is a commonly used dietary supplement.
“Asia-Pacific to lead the market in terms of market share between 2016 and 2022”
The market for food amino acids in the Asia-Pacific region is estimated to be the largest, in 2016. China is estimated to dominate the market for food amino acids globally as well as regionally. The Asia-Pacific region has a large market for food & beverages; the improved standard of living due to the rise in the income levels is one of the major factors driving the food & beverage market growth in this region. The food industry has contributed significantly to the regional growth.
The breakdown of the primaries on the basis of the company type, designation, and region, conducted during the research study, is mentioned as follows:
- By Company Type: Tier 1 – 60%, Tier 2 – 25%, and Tier 3 – 15%
- By Designation: Director Level – 35%, C Level – 40%, and Others – 25%
- By Region: Asia-Pacific – 40%, Europe – 30%, North America – 20%, and RoW – 10%
Key players are as follows:
The global food amino acids market is dominated by key players such as Ajinomoto Co. Inc. (Japan), Kyowa Hakko Kirin Group (Germany), Evonik Industries AG (Germany), Sigma-Aldrich, Co. LLC (U.S.), Prinova Group LLC (U.S.), and Daesang Corporation (Korea).
The food amino acids market, on the basis of type, includes glutamic acid lysine, tryptophan, methionine, phenylalanine, and others (leucine, aspartic acid, threonine, histidine, and tyrosine). On the basis of source, the market is segmented into plant-based, animal-based, and synthetic. On the basis of application, the market is segmented into nutraceuticals & dietary supplements, infant formula, food fortification, convenience foods, and others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons To Buy this report
From an insight perspective, this research report has focused on various levels of analyses?industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape?emerging and high-growth segments of the global food amino acids market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on food amino acids products offered by top players in the global market.
- Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the food amino acids market.
- Market Development: Comprehensive information about lucrative emerging markets.
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global food amino acids market.
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global food amino acids market.