The global amino acids market is estimated to be valued at US$25.28 billion in 2022 and is expected to exhibit a CAGR of 8.4% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Amino acids are organic compounds that play a crucial role in various physiological processes in the human body. They are essential for the synthesis of proteins and are used as dietary supplements to enhance muscle growth and repair. The growing health consciousness among consumers and the increasing demand for protein supplements are driving the growth of the amino acids market. Additionally, the rising prevalence of lifestyle diseases and the growing vegetarian and vegan population are further fueling the demand for amino acid supplements.
Market Key Trends:
The key trend in the amino acids market is the increasing use of amino acids in the pharmaceutical industry. Amino acids are being extensively used in the formulation of drugs and pharmaceutical products due to their therapeutic properties. They are used in the treatment of various diseases such as diabetes, cardiovascular disorders, and neurological disorders. Furthermore, amino acids are also being used in the production of functional foods and sports nutrition products. The increasing focus on preventive healthcare and wellness is driving the demand for amino acid-based supplements in these industries. The market is witnessing significant investments in research and development for the development of novel amino acid-based drugs and nutritional products.
PEST Analysis:
Political: The political factors influencing the amino acids market include regulations and policies related to food safety and quality control. Governments play a crucial role in ensuring that the production and distribution of amino acids meet the required standards. Compliance with regulations is necessary to gain market access and maintain consumer trust.
Economic: The economic factors affecting the amino acids market involve the purchasing power of consumers, inflation rates, and economic growth. As the global economy continues to grow, consumers have more disposable income to spend on health and wellness products, including amino acid supplements. Economic stability and favorable market conditions contribute to the growth of the market.
Social: The social factors influencing the amino acids market include changing lifestyles and increasing health consciousness among consumers. With the rising awareness about the importance of a balanced diet and the role of amino acids in promoting overall health, there is a growing demand for amino acid-based products. Additionally, the aging population and the rise in sports and fitness activities contribute to the market growth.
Technological: Technological advancements play a significant role in the production, processing, and formulation of amino acids. Innovations in biotechnology and genetic engineering have improved the development and extraction of amino acids, making them more commercially viable. Furthermore, advancements in packaging and storage technologies enhance the shelf life and availability of amino acid-based products.
Key Takeaways:
The Global Amino Acids Market Demand is projected to have a high growth rate, exhibiting a Compound Annual Growth Rate (CAGR) Of 8.4% over the forecast period of 2023-2030. The market is driven by various factors, including the increasing demand for amino acid-based supplements and the growing focus on health and wellness among consumers.
In terms of regional analysis, the Asia Pacific region is expected to be the fastest-growing and dominating region in the amino acids market. This growth is attributed to the increasing population, rising disposable income, and changing dietary patterns in countries like China and India. Additionally, the presence of major market players in the region further strengthens its market dominance.
Key players operating in the amino acids market include Ajinomoto Co., Inc., KYOWA HAKKO BIO CO., LTD., AMINO GmbH, Bill Barr & Company, IRIS BIOTECH GMBH, Taiwan Amino Acids Co. Ltd., BI Nutraceuticals, Sichuan Tongsheng Amino Acid Co., Ltd, Wacker Chemie AG, Adisseo, and CJ CheilJedang Corp. These key players contribute to the market’s growth through innovation, product development, and strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.