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Global Industrial and Institutional cleaning chemical market was currently valued at $3.15 billion in 2014 and is expected to reach $4.2 billion by 2020 showing a compound annual growth rate of 4.9%. Among all the regions in the world Asia Pacific is the largest market for Methionine owing for large dependence of livestock in that region. It is also the fastest growing market during the period 2014-2020 growing at a CAGR of 5.4%. Methionine is basically an alpha amino acid and is a basic building block in the formation of proteins in living beings.
The fastest growth is expected to occur in Animal feed industry since Methionine is used in large quantities to promote growth of poultry and livestock, shorten feeding cycle and increase the quantity of lean meat. Methionine is more efficient than fish powder which was previously used as it is very cheap, easily available and very effective. The use of Methionine in Food production and Pharmaceutical industries is also increasing due to its use as nutrition supplements and Intermediate, flavor enhancer, reducing agent respectively.
Methionine market is segmented by end user industry which includes Food production, Beverage, Pharmaceutical, Cosmetics, Agriculture, Animal feed and others. It is also segmented by application which includes Animal feed additive, Sodium reducing agent, nutrition supplements, Intermediate in medicine manufacturing, flavor enhancer and Others
The key players in Methionine market include Sumitomo Chemical Corporation Limited, Nippon Soda, Bluestar, Aventis S.A, BASF, Jingang Chemical Corporation Limited.
DRIVERS: Growth is largely fueled by the increasing demand from developing countries in Asia Pacific and Europe due to their increasing consumption of meat for a protein rich diet. The large population and higher levels of income in these countries adds on to the Methionine market. The increase in genetic technologies which increases the weight of broilers, demand for a broader food portfolio particularly in proteins, and Eco friendly means of extracting Methionine adds to the growth of the market.
RESTRAINTS: Rising energy prices serves as a restraint for the growth of market. The promotion of Vegetarianism also decreases the growth of market as people stop eating meat thus the number of feed additives for animals are required less. Volatility in the raw materials also serve as a major drawback to the growth of this market.
What the report contains
The report elucidates the situation of Methionine around the world and studies its markets by end user industry and applications.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 6 years.
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9. Company Profiles (Overview, Products & Services, Financials, Recent Developments)
9.1 China National BlueStar
9.2 Jinzhou Amino Acid Co., Ltd
9.3 Evonik Industries
9.4 Novus International
9.5 Sumitomo Chemical Co., Ltd
9.6 Nippon Soda
9.8 Mitsubishi Tanabe Pharma Corporation
9.9 Zhejiang Chemicals Import & Export Corporation
9.13 Suan Farma
9.15 Volzhsky Orgsynthese,JSC
9.17 Archer Daniels Midland
9.20 Aventis S.A
9.23 Jilin City
9.24 Jingang Chemical Co., Ltd
9.25 Kyowa Hokko Bio Co., Ltd
9.26 Metabolic Explorer
9.28 Unisplendour chemical Co., Ltd
9.29 Wacker Chemical AG
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