Methionine Market

Methionine Market Snapshot (2022 to 2032)

The global methionine market size is expected to reach USD 5.57 Billion in 2032. The methionine market is growing rapidly.

As per FMI Analysts, the global Methionine market is estimated to be valued at USD 3.36 Billion in 2022 and is projected to increase at a CAGR of 5.9% in the forecast period from 2022 to 2032.

Report Attribute	Details
Methionine Market Estimated Base Year Value (2021)	USD 3 Billion
Methionine Market Expected Market Value (2022)	USD 3.36 Billion
Methionine Market Anticipated Forecast Value (2032)	USD 5.57 Billion
Methionine Market Projected Growth Rate (2022 to 2032)	5.9% CAGR

Dietary supplements usually contain methionine, and there is an expected strong growth in consumer demand for methionine in the coming years, driven by growing interest in improving health, avoiding healthcare costs, and growing geriatric population.

Over the next few years, the rising consumption of sports supplements is also expected to contribute to higher sales of methionine. Sports supplements are mainly used by bodybuilders and athletes to improve performance, and products such as energy drinks, weight loss pills, nutrition supplements, weight loss meals, low carbohydrate foods, and nutrition bars are gaining popularity because of their high health benefits and growing consumer awareness & therefore growth of the methionine market.

A growing number of applications in the pharmaceutical and medical sector is expected to fuel the methionine market growth over the forecast period. It is widely used as a raw material for pharmaceutical applications and as an intermediate in the production of vitamins and liver-related medicines.

Novus International has filed antidumping petitions with the US Department of Commerce and International Trade Commission with respect to methionine imports from Spain, France, and Japan. The company has claimed that illegal dumping of methionine in the US market has hurt the US agriculture industry.

A large population and a thriving animal feed industry in Asia-Pacific will drive the methionine market in that region to hold the largest share in terms of volume. The growing consumption of dietary and sports supplements is also expected to support the growth in that region.

Moreover, cattle production has taken a toll on the Asia Pacific market, which may further preserve its position at the end of the forecast period. North America, on the other hand, is expected to register the strongest growth over the forecast period. By type, the plant-based methionine market was leading and expected to gain more share over the forecast period due to government regulations that ban bone meal and fish silage.

Methionine consumption is growing rapidly in China due to the increasing number of meat products consumed by the country's wealthy middle class. The explosive growth can be attributed to the interest in animal feed used by the livestock and farming industries. The country's population has almost doubled to 1.4 billion people and their consumption of meat and animal feed has expanded dramatically, creating more demand for methionine.

As the methionine industry is one of the most profitable, many manufacturers, including Bluestar, Adisseo, and Evonik, are seeking to expand production in China. Adisseo recently announced that of a new liquid methionine plant in China with a capacity of 180 kilometric tons per year, it will be operational by 2021.

What are the Various Factors Driving the Methionine Market?

The methionine market has received a lot of traction in the industry.

Increasing demand for dietary and sports supplements is expected to play an important role in the growth of the Asia-Pacific methionine market, owing to the abundant population and an extensive feed industry in the region.

Methionine is widely used in dietary supplements. The demand for dietary supplements will increase due to growing interest in leading a healthy lifestyle, avoiding healthcare costs, and an increase in geriatric populations to drive up product demand for methionine in the next few years,

Market growth is expected to be further fueled by increased application scope in pharmaceutical and medical applications over the forecast period. It is widely used as a raw material in pharmaceutical applications and as an intermediate in vitamin and liver-related medicine manufacturing.

It is anticipated that rising demand for sports supplements over the next few years will also complement the increase in methionine consumption, Sports supplements are mainly consumed by athletes and bodybuilders to improve performance. Supplements such as energy drinks, weight loss pills, nutritional supplements, low-carbohydrate meals, and nutrition bars are gaining a considerable amount of popularity for their health benefits and rising consumer awareness.

What is Regional Analysis of Methionine Market Share?

In terms of volume, China’s methionine market is predicted to grow rapidly over the projection period.

It is projected that the Asian-Pacific market will account for the largest share in terms of volume due to the massive population and extensive animal feed industry. The increasing demand for dietary and sports supplements could fuel the growth of methionine in the Asian-Pacific market.

By product type, plant-based methionine was leading the market and expected to gain more share over the forecast period. This is largely due to the stringent government norms to ban bone meal and fish silage. Furthermore, the production of cattle has taken a toll on the market, which is expected to help continue the Asia Pacific's dominance, meanwhile, the North American market is expected to register the fastest growth during the forecast period, propelling methionine market opportunities.

China's methionine demand has grown more rapidly than the global average since its middle class is increasingly fond of meat products. This enormous increase in demand can be explained by an increase in demand for animal feed used in the livestock and farming industries. Since China's population doubled to 1.4 billion people, demand for meat and feed has skyrocketed, increasing growth of the methionine market.

Methionine consumption is set to grow rapidly in China, which will command a significant share of the Asia-Pacific methionine market. However, environmental pressures and measurement requirements may hamper the share of methionine in the market. The government has implemented strict environmental regulations to comply with waste disposal and pollution requirements, which may result in production restrictions.

What is the Competition Landscape in the Methionine Market?

There are four dominant companies that account for over 80% of the global methionine market. These players include Adisseo, Evonik Industries AG, Novus International, and Sumitomo Chemical Co. Ltd, and Chongqing Unisplendour Chemical Co. Ltd, among others.

Novus International’s antidumping petitions for methionine were filed with the USA Department of Commerce and International Trade Commission in August 2020. The company has filed a petition requesting the USA Department of Commerce and International Trade Commission to investigate imports of methionine from Spain, France, and Japan, as per the World Trade Organization Antidumping Agreement.

The petition claims that the illegal dumping of methionine in the USA market at an artificially low price has been harming USA agriculture.

Manufacturers are also impacted by the methionine overcapacity in China. Due to its enormous profitability, many companies, such as Bluestar, Adisseo, and Evonik, are expanding their factories there. For example, Adisseo announced that they would be constructing a 180 kilo-metric ton per year liquid methionine plant by mid-2020, this will in turn bring about future trends & opportunities in the methionine market.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 5.9% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	End User, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania ; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, Poland, Australia, New Zealand, China, India, Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, GCC, Turkey, South Africa, North Africa
Key Companies Profiled	Evonik Industries; Tokyo Chemical Industry Co.; Sumitomo Chemical Corporation Limited; Bluestar Adisseo Company; CJ Cheil Jedang; Ajinomoto Co., Inc.; Chongqing Unisplendour Chemical; Phibro Animal Health; Sunrise Nutrachem; Prinova Group; Iris Biotech GmbH; Kyowa Hakko Bio Co., Ltd.; DSM Nutritional Products AG; Tocris Bioscience; Beijing FortuneStar S&T Development Co., Limited; Jinzhou Jirong Amino Acid Co., Ltd.; AnaSpec, Inc.; Novus International Inc.; Kingchem Life Science LLC; Stolt Nielsen Japan Co., Ltd
Customization	Available Upon Request

Key Segments Profiled in the Methionine Market

By Product Type:

• Animal-based
• Plant-based

By End User:

• Food and Dietary Supplements
• Animal Feed
• Poultry
• Pigs
• Cattle
• Others
• Pharmaceuticals

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

At what rate will the methionine market grow?

The global methionine market is set to exceed USD 5.57 Billion in 2032.

Which region is set to lead the methionine market?

The USA is projected to lead the methionine market in the forecast period.

Which are some of the renowned companies in the methionine market?

Evonik Industries, Tokyo Chemical Industry Co., Sumitomo Chemical Corporation Limited, are some of the renowned companies in the methionine market.