DL-Methionine Market: Overview and Dynamics
Methionine is mainly available in two forms named as D-methionine and L-methionine. DL-Methionine which is a mixed form of D-methionine and L-methionine, is an essential amino acid and act as a building block in protein production. As feed is an important factor in meat industry in which profit is highly dependent on productivity at lowest possible feed costs.
In response, DL-Methionine has emerged as ideal ingredient in animal feed additives. Attributed to the aforementioned facts, the global DL-Methionine market is poised to embark on a positive growth trajectory, registering a CAGR of ~5% over the forecast period (2020-2030).
On the basis of application, animal feed additive is the largest consumer of DL-Methionine and is projected to continue its dominance throughout the forecast period accounting for over three fourth of the global demand. The growth is attributed to the increased demand for DL-Methionine in aquafeed coupled with the surging demand for fish meat across the globe.
COVID Impact Insights
The spread of the coronavirus has nearly forced all countries to impose lockdowns and strict social distancing measures which has disrupted every industry and market so the DL-Methionine market across the globe. As per UN stats global economy is estimated to suffer billion dollars of loss in 2020.
The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown. However, lockdown ease in Asia Pacific and several other countries across the globe are set to assist the global DL-Methionine market growth in 2020. Second wave of coronavirus is driving global economy towards great recession and lack of vaccination for long time will leave permanent mark on numerous economies.
DL-Methionine Market: Key Players
Global DL-methionine market is partially consolidated in nature in which top five players accounts for over one fourth of the global production. Currently, Adisseo, Equistro, Evonik Industries AG, MEGAMIX, Novus International, Sumitomo Chemical Co., Ltd. and Tokyo Chemical Industry Co., Ltd are the key stakeholders in global DL-Methionine market.
Prominent companies like Evonik and Adisseo have been involved in targeted product portfolio and production capacity expansion strategies. For instance, Evonik offers DL-Methionine specifically designed for aquaculture in order to meet align with the trend of fish meat. Adisseo has plans to build new liquid methionine production facility by mid-2021 in order to meet the increasing demand for liquid methionine. Aforementioned strategies are poised to up-lift the DL-Methionine market growth during the forecast period.
DL-Methionine Market: Regional Outlook
The report on the global DL-Methionine market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. The enormous growth in China’s animal feed industry and increased demand for high-quality animal feedstocks have made China the world’s largest consumer of DL-Methionine.
The scenario is projected to continue owing to China’s accelerating aquaculture industry and surging demand for fish meat in the region. Other key factors include China’s huge poultry and pharmaceutical industry which is poised to assist China’s supremacy in the global DL-Methionine market. On the back of China, currently, East Asia is leading the consumer of DL-Methionine and is projected to maintain its dominance over other regions during the forecast period.
Segmentation Analysis of DL-Methionine Market:
The global DL-Methionine market is bifurcated into three major segments: form, application, and region.
On the basis of form, DL-Methionine market has been segmented as follows:
On the basis of application, DL-Methionine market has been segmented as follows:
- Animal Feed
- Food & Supplements
On the basis of geographic regions, DL-Methionine market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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