Lysine, Methionine Market Outlook, Review, Research and Forecast 2024
Date: 2019-01-24   Author: Rahul Sankrityayan  Category: #market

Lysine, Methionine Market Outlook, Review, Research and Forecast 2024

Global lysine market size in animal nutrition market was estimated at over 1.9 million tons in 2014 and is likely to reach over 3 million tons by 2023. Revenue is likely to grow with an estimated CAGR of over 6%, to exceed USD 6.8 billion by 2023.

Swine was the largest application consuming lysine in the animal nutrition market and accounted for more than 55% of the total volume in 2014. Swine application is likely to worth more than USD 2 million with estimated gains of CAGR over 8% up to 2023. Poultry applications were the second largest and are likely to witness significant gains up to 2023.

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Global methionine market size in animal nutrition industry was estimated at over 1 million tons in 2014 and is likely to surpass 1.6 million tons by 2023 with growth rates over 6.2% from 2016 to 2023. Methionine market in animal nutrition segment is likely to be worth more than USD 1.6 billion by 2023. These two products together account for a significant chunk of the amino acids market and the animal feed additives market.

Poultry application was the dominant for methionine consumption and accounted for more than 70% of the total volume in 2014. This application is likely to register more than USD 1.9 billion by 2023 with estimated gains of a CAGR above 6.5% from 2016 to 2023.

Increase in livestock production owing to growing meat consumption particularly in emerging economies of Latin America and Asia Pacific is likely to drive growth. Lysine and methionine are widely used amino acids for animal nutrition. These amino acids help livestock to gain appropriate weight and regulate metabolism.

Growing industry awareness regarding benefits of using amino acids as feed additives coupled with increasing chances of disease outbreak is likely to favor growth. These are used as feed additives to provide nutrition to animals for meat consumption such as broiler, swine, cattle and turkey. Due to recent epidemic outbreaks, the quality of meat has become an important issue worldwide, especially in North America and Europe. The awareness among consumers preferring extrinsic quality attributes of meat has increased, affecting the meat market globally.

For example, in 2009, nearly 30% of the poultry meat sales dropped in Malaysia because of bird flu which led to 5% GDP loss in the U.S. economy for the same year. Similarly, in 2003, Severe Acute Respiratory Syndrome (SARS) in China, Hong Kong, Taiwan, and Singapore claimed 0.5% to 2% of GDP loss. Recent disease outbreaks have resulted in an increase in regulatory intervention, with various regional regulatory bodies looking to come together to standardize meat products.

Introduction of meat snack outlets in emerging economies such as China, Indonesia and Thailand is likely to favor lysine and methionine demand in animal nutrition market. China is expected to witness highest growth rate in meat consumption owing changing consumer preference coupled with impact of western food.

Growing life expectancy, scarce availability of land & water resources for animal feed production, and growing grain demand for food and ethanol production has resulted in the meat industry looking to optimize feed utilization. This has prompted an increase use of these aforementioned amino acids.

Plant based raw materials such as wheat; soybean and corn were the dominant sources for lysine & methionine production and accounted more than 80% of the total volume in 2014. Animal based raw materials such as meat & bone meal and fish silage are anticipated to witness moderate gains over the forecast period owing to ban on these sources in Europe and consumer sentiments.

China was the dominant lysine producing region and accounts for close to 65% of the global production. Asia Pacific lysine market accounted for more than 40% of the total consumption. China is likely to witness significant gains of over 7% up to 2023 owing to growth in swine production for meat consumption, which might also have an impact on lysine market price. China is also one of the leading exporters of swine. These factors are likely to support growth. Europe lysine market was the second largest regional industry and is likely to witness moderate gains over the forecast period.

Global lysine market share is fragmented and key companies include, Royal DSM, Cargill, Sunrise Nutrachem Group, Iris Biotech GmbH, Kyowa Hakko Bio Co., Ltd and Ajinomoto Co. Ltd. Other prominent companies include CJ Cheil Jedang Corporation, Prinova U.S, GBT, AnaSpec Inc, Langen Suzhou Co., Ltd, Tokyo Chemical Industry Co., Ltd., ADM, Beijing FortuneStar S&T Development Co. Ltd, Tocris Bioscience Ltd, Shaanxi Sciphar Hi-tech Industry Co., Ltd, and Shandong Shouguang Juneng Group Golden Corn Co., Ltd.

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Global methionine market share is highly consolidated with top four companies dominating demand. Key companies include Novus International, Sumitomo, Adisseo and Evonik Degussa. Asia Pacific was the leading region for methionine consumption and accounted for more than 30% of the total volume in 2014 for animal nutrition consumption. Latin America is likely to witness significant gains over the forecast period owing to rapid urbanization and growth in meat consumption particularly in Brazil.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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