by Amino acids are organic compounds that combine to form proteins. They play an important role in various processes in the human body and are involved in optimal growth, development and maintenance. There are 20 standard amino acids that are commonly incorporated into proteins during protein synthesis. Amino acids find wide application in various industries such as food and beverages, pharmaceuticals, and nutraceuticals. In the food and beverage industry, amino acids are used as flavor enhancers, preservatives and complement ingredients. In pharmaceuticals, amino acids are used in therapeutic formulations to treat chronic diseases and disorders. Growing demand for nutraceuticals, with increasing consumer awareness regarding health and wellness, has been a major factor fueling growth of the global nutraceutical industry. Amino acids are commonly used as ingredients in various nutraceutical formulations owing to their nutritional benefits.
The global Amino Acid Market is estimated to be valued at US$ 31.57 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing demand for nutraceuticals has been a major driver bolstering growth of the global amino acid market. Nutraceutical formulations containing amino acids are gaining immense popularity worldwide owing to multiple associated health benefits. To elaborate, amino acids are commonly used in nutraceuticals for bone and joint health, digestive health, heart health, brain health, immune health and skin health. Additionally, with increasing spending power and evolving consumer lifestyles, demand for nutrition-rich food and dietary supplements is surging globally. This rising demand for nutraceuticals is creating huge opportunities for amino acid market players over the forecast period. Adoption of high protein diet also contributes significantly to market growth.
Segment Analysis
The global Amino Acid market is divided into four key segments -L-Glutamate, L-Lysine, Methionine and Other Types. The L-Glutamate segment accounts for over 35% of the total market share primarily due to its extensive applications in food & feed industries. L-Glutamate functions as a flavor enhancer and is widely used in manufacturing of ready meals, broths and dressings. The other types segment comprising L-alanine, L-arginine and other essential amino acids holds the second largest share and is anticipated to witness steady growth over the forecast period.
PEST Analysis
Political: Stringent regulations to ensure quality and safety standards in the amino acid market will continue to shape the business environment. Economic: Growth in demand for nutrition-rich food and alternative protein sources from livestock industry will drive the economic growth of the amino acids industry. Social: Increasing health awareness among consumers regarding nutrition has boosted the demand for dietary supplements and functional foods fortified with amino acids. Technological: Advancements in fermentation and separation technologies have enabled efficient production of amino acids on commercial scale.
Key Takeaways
The global Amino Acid Market Demand is expected to witness high growth supported by rising demands from food & feed industries.
Regionally, North America captures over 30% of the global market aided by well-established end users like nutritional supplement and pharmaceutical companies in the region. Key players in the amino acid industry are also shifting focus towards this high potential region.
Key players operating in the amino acid market are ADM (U.S.), Olam International Limited (Singapore), Evonik Industries AG (Germany), Ajinomoto Co., Inc. (Japan), CJ CheilJedang Corp. (South Korea). ADM and Ajinomoto are the leading amino acid manufacturing companies, collaborating with various stakeholders to meet the demand-supply gap through capacity expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
