29/11/2017 – News / Global / Livestock Production / Animal Feed / Amino Acids
Feed amino acids market to be worth over $6.6bn by 2022
Estimated to be valued at US$5.37 billion in 2017, the global feed amino acids market is forecast to reach a value of US$6.66 billion by 2022 at a CAGR of 4.4 per cent, according to the recent report published by MarketsandMarkets.
The market is being driven by factors such as growth in consumption of animal-based products, growth in feed production, standardisation of meat products owing to disease outbreaks, implementation of innovative animal husbandry practices to improve meat quality, increased support from governments and environmentalists, and multiple benefits associated with amino acid supplementation in feed. Additionally, growth in awareness among consumers about BSE and increase in demand for nutritional supplements for monogastric animals provides feed amino acid producers and distributors with lucrative opportunities.
Lucrative opportunities for producers & distributors
The lysine segment, by type, is estimated to be the largest in the feed amino acids market in 2017. Amino acids play an important role in animal nutrition by supporting the growth, production, activity, reproduction, and overall maintenance of animal health. They also help in increasing the livestock yield. Hence, this segment is estimated to acquire the largest share of the global feed amino acids market by 2022.
The dry segment accounts for higher demand among animal producers as it is easy to mix with feed, and is therefore expected to continue its dominance during the forecast period. The ease of storage and handling and transportation and cost advantages over the liquid form are also some factors that drive the demand for the dry form of feed amino acids.
Rising awareness fuelling growth
Growing concerns about animal health and the rise in awareness about the benefits of amino acids in feedstuff have led to the growth of the poultry feed amino acids market, which is projected to be the largest segment in 2017.
Geographically, the Asia Pacific region is projected to be the fastest-growing market for feed amino acids between 2017 and 2022. Major driving factors for the market in this region include the continuous modernisation of animal production techniques and the growing awareness among consumers regarding the impact of quality feed provided to the livestock on animal-based products, such as meat and dairy products.
The report includes the study of marketing and development strategies, along with the product portfolios of leading companies such as ADM (US), Sumitomo (Japan), Evonik (Germany), CJ CheilJedang (South Korea), Ajinomoto Co., Inc. (Tokyo), Adisseo (China), Phibro (US), Meihua Holdings (China), Kemin (US), Novus (US), Global Bio-Chem (Hong Kong), and Sunrise Nutrachem (China).