United States Methionine Market to Grow with a CAGR of 3.62% through 2028
Surge in research and development activities is expected
to drive the United States Methionine Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “United
States Methionine Market– By Region, Competition, Forecast and Opportunities,
2018-2028F”, the United States Methionine Market stood at USD 317.24 million
in 2022 and is anticipated to grow with a CAGR of 3.62% in the forecast period,
2023-2028. The initiatives taken by government based on methionine has led to
favorable market conditions for the United States Methionine Market. Several
factors contribute to the growth of various methionine market products. The Department of Commerce has recently
conducted preliminary investigations and concluded that methionine imported
from Spain is being sold in the United States at a price lower than the fair
value. Additionally, it has made a final affirmative determination that imports
of methionine from Japan are also being sold below fair value in the U.S.
market. Furthermore, the
U.S. International Trade Commission has examined the situation and determined
that the domestic industry has suffered significant harm due to the influx of
methionine imports from both Japan and Spain. These findings highlight the need
for further examination and potential action to address the impact on the
domestic methionine industry.
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Research and
development (R&D) activities have not only contributed to the advancement
of methionine, but they have also unveiled new possibilities and applications
for this essential amino acid. One significant finding is that methionine can
significantly improve the bioavailability of specific nutrients when
incorporated into dietary supplements and functional foods. This breakthrough
discovery has sparked increased interest in methionine within the nutrition
sector, thereby driving substantial market growth. As a result, the demand for
methionine continues to surge as more industries recognize its potential and
explore its diverse applications across various sectors.
The United
States Methionine Market is segmented in type, application, regional
distribution, and company. Based on its type,
the DL-methionine segment held the largest share in the market. DL-Methionine,
an essential amino acid, not only offers high antioxidant capacity and low
nitrogen excretions but also presents itself as an environmentally friendly
option. These remarkable properties have led to the increased usage of
DL-Methionine in the supplement industry, which is projected to surpass $50
billion annually. Its versatile benefits and sustainable nature make
DL-Methionine a promising ingredient for various applications, from animal
nutrition to human health.
Based on region, Mid-West segment is expected to grow
during the forecast period.
One of the factors that contributes to the Midwest's
dominance is the significant production of alfalfa. This versatile crop,
commonly used as animal feed, has experienced a notable shift in production
from the Southwest and West to the Midwest region. The Midwest's favorable
climate and fertile soil provide ideal conditions for cultivating alfalfa,
making it a prime location for its production.
Moreover, alfalfa plays a crucial role in the
livestock industry as it is often fortified with methionine to meet the
nutritional needs of animals. Methionine is an essential amino acid that
supports the growth and development of livestock. With the Midwest region being
a major producer of alfalfa, this shift in production further enhances the
Midwest's position in the Methionine market. The availability of locally grown
alfalfa fortified with methionine strengthens the region's competitiveness and
establishes it as a key player in the industry.
Major companies operating in United States Methionine
Market are:
- Bluestar Adisseo Co
- Evonik Corp
- Novus International Inc
- Sumitomo Chemical Co Ltd
- Prinova Group LLC
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“Growing application of methionine in various end user
industries are key drivers of the methionine market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of methionine with every passing year
are anticipated to register an impressive growth to United States Methionine
Market in the forecast period.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“United States Methionine Market By Type (DL-Methionine,
Methionine Hydroxy Analogue (Mha), L-Methionine), By Application (Animal Feed,
Food & Dietary Supplements, Pharmaceuticals), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of United States Methionine Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Methionine Market.
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