Amino acids are organic compounds which are basic building blocks of protein in the human body. There are 20 standard amino acids which are commonly found in proteins. They play an important role in various metabolic functions and are crucial for growth, repair and maintenance of tissues. Many amino acids such as glycine, lysine, methionine and tryptophan are used in pharmaceutical, cosmetic as well as food and beverage industries. Pharmaceutical industry utilizes various amino acids for manufacturing drugs, medicines and supplements. Rising prevalence of lifestyle diseases and growing geriatric population globally has increased the demand for medications, thereby driving the growth of amino acid market.
The global amino acid market is estimated to be valued at US$ 27.9 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 Dynamics:
The increasing demand from pharmaceutical industry is one of the major drivers of amino acid market. As per estimates, over 50% of amino acids produced annually are consumed by pharmaceutical industry for manufacturing medicines, drugs and supplements. Various amino acids are routinely used in production of drugs to treat chronic diseases such as cancer, diabetes, cardiovascular disorders and neurological conditions. Another driver is rising usage of amino acids in animal feed industry. Amino acids such as lysine and methionine are commonly added to animal feed to enhance their nutrition and promote growth. According to Food and Agriculture Organization (FAO), global annual consumption of amino acids in animal feed is projected to surpass 30 million tons by 2030.
Segment Analysis
The global amino acid market is dominated by the lysine sub-segment, which holds over 25% of the total market share. Lysine is gaining widespread importance as an essential amino acid for poultry and swine feed. The ability of lysine to promote muscle growth and protein synthesis in animals has propelled its demand across major meat and poultry producing countries. The glutamine sub-segment is another lucrative segment, growing at a CAGR of 5% during the forecast period. Pharmaceutical applications of glutamine for treatment of cancer, asthma and respiratory disorders are major drivers of this segment’s growth.
PEST Analysis
Political: The development of new manufacturing capacities and investments in amino acid production receive favorable policy support from governments across major economies. Regional trade blocs promote easier cross-border movement of amino acids.
Economic: Growth of the global meat industry, rising per capita meat consumption in developing nations, and increased demand for nutraceutical and pharmaceutical products stimulates overall growth of the amino acid market.
Social: Changing health-conscious consumer preferences towards protein-rich foods and dietary supplements aided by increased awareness fuels amino acid market growth.
Technological: Advances in fermentation technologies enable large-scale, cost-effective manufacturing of amino acids. Biotechnological advancements lead to innovations in specialized amino acid variants.
Key Takeaways
The Global Amino Acid Market Size is projected to reach USD 25 billion by 2030, expanding at a CAGR of 4.5% during the forecast period. 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.
Asia Pacific dominates the global amino acid market with over 35% share and is expected to witness growth of 5% during the forecast period. China has emerged as the world’s largest producer and consumer of meat which drives Lysine demand. India is also projected to generate significant demand from meat and poultry producers.
Key players operating in the amino acid market are Ajinomoto Co., Kyowa Hakko Kirin Group, Evonik Industries, Sigma-Aldrich, Prinova Group LLC. Ajinomoto Co. is the largest producer with over 20% market share backed by its large scale fermentation facilities in multiple regions. Kyowa Hakko Kirin Group’s specialized offerings of rare amino acids gives it an edge in the high-growth pharmaceutical applications segment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it