The Amino Acid Global Market Report 2023 by The Business Research Company, provides amino acid market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Amino Acid Global Market Report 2023, the market size is expected to grow from$24.57 billion in 2022 to $27.07 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The amino acid market size is expected to grow to $37.49 billion in 2027 at a CAGR of 8.5%
Rising health consciousness among the population is expected to propel the growth of the amino acid market going forward. Health consciousness refers to the extent to which individuals tend to take action towards taking care of their health. Health-conscious people take amino acids as part of their diet to improve their immunity.
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The amino acid market is segmented:
1) By Type: Histidine, Isoleucine, Leucine, Glutamate, Lysine, Methionine, Threonine, Other Types
2) By Source: Animal-Based, Plant-Based
3) By Application: Animal Feed, Food and Beverages, Pharma and Health Care, Nutraceuticals, Cosmetics and Personal Care, Other Applications
Product innovation is a key trend gaining popularity in the amino acid market. Major companies operating in the amino acids sector are focused on product innovations to meet plant-based and natural flavoring ingredient demand. For instance, in April 2021, CJ BIO, a South Korea-based food company, launched FlavorNrich Master C, the world’s first natural cysteine. It is produced by microbial fermentation and is the only natural amino acid qualified as natural flavor by the USDA Organic Program as well as the United States Department of Agriculture (USDA), the United States Food and Drug Administration (FDA), the Flavor and Extract Manufacturers Association Generally Recognized As Safe (FEMA GRAS), and European Union (EU) regulations.
Top 5 Major Key Players Are:
Evonik Industries AG
Daesang Corporation
Sunitomo Chemical Co. Ltd
The Archer-Daniels-Midland Company
Amino GmbH
Table Of Contents
1. Executive Summary
2. Amino Acid Market Characteristics
3. Amino Acid Market Trends And Strategies
4. Amino Acid Market – Macro Economic Scenario
5. Amino Acid Market Size And Growth
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26. Africa Amino Acid Market
27. Amino Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Amino Acid Market
29. Amino Acid Market Future Outlook and Potential Analysis
30. Appendix
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