India Amino Acids Market to peg at USD471 Million in 2020
Rising demand for compound feed in poultry sector, increasing penetration in niche applications and growing sophistication in animal farming driving amino acids market in India
According to the recently published TechSci Research report “India Amino Acids Market Forecast and Opportunities, 2020”, the amino acids market in India is projected to account for revenues worth USD471 million in 2020. The market is propelled by growth in domestic compound feed industry, which grew at a CAGR of 7.1% during 2010-14. Containing both carboxyl and amino group, amino acids are synthesized inside human and animal body, yet a few amino acids cannot be produced inside the body and are known asessential amino acids.
In India, amino acids find major application in compound feed market for broiler and cattle feed. Due to integrated farming and industrialization in poultry farms, the need for high end compound feed containing sophisticated feed ingredients has been witnessing an increase over the last few years. These high quality amino acids along with other feed ingredients are expected to increase the productivity of poultry in order to fulfill both domestic and export demand for broiler meat.
Growing use of amino acids in other application areas such as dietary supplements, pharmaceuticals and cosmetics is also driving the market for amino acids in the country. However, the quantity of consumption in these application areas is very limited. Methionine is currently the largest revenue contributor in India amino acid market, attributed to its higher price pointsand growing use in feed grade amino acids for compound feed products.
The report also reveals that Southern region of India generates highest revenue for amino acids on account of large number of poultry farms located in southern states. The poultry sector is also witnessing various initiatives by state governments in the form of subsidies and loans to upcoming poultry farms. This, in turn, is also driving the consumption of amino acids in India.
“India’s broiler feed market grew at a CAGR of 9.3% over 2010-14 and is expected to further propel the market for feed grade amino acids in the country. India, being the largest dairy market, holds considerable potential for amino acids for use in animal feeds as ruminants over the coming years”, said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
“India Amino Acids Market Forecast and Opportunities, 2020” has analyzed the potential of amino acids market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.