May 18, 2024
Amino Acid Market

The Global Amino Acid Market Driven By Growing Food And Beverage Industry Is Estimated To Be Valued At US$ 44 Billion In 2023

Amino acids are organic compounds that combine to form proteins. They play a vital role in growth and repair of tissues in the human body and are thus important components in dietary supplements, infant formulas, clinical nutrition and other food and beverages. The growing food processing industry is creating significant demand for amino acids as additives and preservatives in a wide range of products. With people focusing more on healthy, nutritious diets, amino acids are finding increased usage in bakery, dairy, beverages and packaged food offerings. Most popular amino acids consumed include lysine, methionine, threonine and tryptophan.

The global Amino Acid Market is estimated to be valued at US$ 44 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the amino acid market is the rising demand for specialty amino acids. Specialty amino acids such as hydroxyproline, ornithine, citrulline and taurine are highly valued ingredients for their specific bioactivities and are witnessing large scale incorporation in functional foods, supplements and cosmetic products. Players in the amino acid market are investing extensively in R&D to discover new specialty amino acids and applications through advanced biotechnology approaches like enzyme immobilization and fermentation processes. It is expected that growing significance of specialty amino acids for their unique health benefits will significantly contribute to the expansion of the global amino acid industry revenue over the forecast period.

Porter’s Analysis

Threat of new entrants: The amino acid market requires high capital investments and faces stringent regulatory policies which limits the threat of new entrants.
Bargaining power of buyers: The presence of many established players limits the bargaining power of buyers in this market.
Bargaining power of suppliers: Key raw materials for amino acid production mainly include corn, soy, and wheat which are procured from a large number of suppliers globally, reducing their bargaining power.
Threat of new substitutes: There are limited substitute products for amino acids, reducing the threat from substitutes.
Competitive rivalry: The amino acid market is highly fragmented with top players accounting for around 30% share. Intense competition exists between existing players.

Key Takeaways

The Global Amino Acid Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Amino Acid Market is estimated to be valued at US$ 44 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.

Regional analysis: North America dominates the amino acid market currently due to extensive R&D investments and increasing demand from animal feed and pharmaceutical sectors in the region. Asia Pacific is expected to be the fastest growing market during the forecast period with increasing meat consumption in China and India.

Key players: Key players operating in the amino acid market are Ajinomoto Co. Inc., Kyowa Hakko Kirin Group, Evonik Industries, Sigma-Aldrich, Prinova Group LLC, Daesang Corporation. CJ CheilJedang Corp, and Sumitomo Chemical Co. Ltd. Ajinomoto Co. Inc. is the global leader in amino acid production with strong presence across major geographies.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it