The mushrooming requirement for animal feed is pushing up the demand for methionine across the globe. This is because methionine helps in the development and growth of the animals’ digestive tract that plays an important role in increasing their muscle mass. This, in turn, improves the egg production ability of the animals. Due to the surging consumption of eggs and meat, the requirement for animal feed is ballooning rapidly all over the world.
According to the global poultry trend data, the total poultry meat uptake is predicted to rise by 1.7 kg per person, that is, from 13.2 kg to 14.9 kg from 2013 to 2023. The main factor augmenting the poultry consumption is the soaring population levels throughout the world. Methionine is also increasingly being used in various pharmaceutical applications, on account of its therapeutic advantages in managing and treating pneumonia, copper poisoning, toxic hepatitis, and liver cirrhosis.
This material is used as a buffering agent in antacids and analgesics for treating the above-mentioned diseases. This is predicted to open up lucrative growth opportunities for the players operating in the industry in the coming years. Due to these factors, the usage of methionine is growing rapidly across the world. This is propelling the growth of the global methionine market, with the market value predicted to rise from $5,114.3 million in 2017 to $9,121.9 million by 2023.
Furthermore, the market is predicted to progress at a CAGR of 10.2% from 2018 to 2023. Depending on form, the methionine market is classified into liquid and powder. Between these, the liquid category will demonstrate faster growth in the market in the future years. This would be because of the increasing requirement for liquid methionine in animal diets, on account of its ability to improve the morphology of the gastrointestinal tract of piglets and the growth performance of the animal.
Additionally, the increasing production capacity of the material by the major industry players is boosting the global demand for liquid methionine across the world. Based on application, the methionine market is divided into animal feed additives, pharmaceuticals, aquaculture, and food processing categories. Out of these, the animal feed additives category recorded the highest growth in the market in the past, because of the high consumption of eggs and meat worldwide.
Across the globe, the methionine market will register huge expansion in Europe and Asia-Pacific in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This would be because of the existence of several established market players, the rapid modernization of animal husbandry operations, and the ballooning production of livestock, poultry, and pork in the regional countries. The market will also record huge growth in North America in the future years.
Hence, it can be said with confidence that the demand for methionine would surge across the world in the years to come, mainly because of the growing requirement for animal feed and the extensive utilization of the material in pharmaceutical applications.
