March 03, 2023 09:21 ET | Source: ReportLinker ReportLinker
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Amino Acid Global Market Report 2023" - https://www.reportlinker.com/p06426502/?utm_source=GNW Inc., Kyowa Hakko Bio Co. Ltd., Novus International Inc., Iris Biotech GmbH, Taiwan Amino Acids Co. Ltd., Sekisui Medical Co. Ltd., Koninklijke DSM N.V, and Kemin Industries. The global amino acid market grew 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 is expected to grow to $37.49 billion in 2027 at a CAGR of 8.5%. The amino acid market consists of sales of beef, poultry, fish, eggs, dairy, soy, quinoa and buckwheat.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The amino acid are used for animal as well as human nutrition.Amino acids consist of an acidic carboxyl group (COOH), a basic amino group (NH2), and an organic R group that is unique to each amino acid. Amino acids refer to the basic elements of proteins and are found in red meat, seafood, eggs, dairy products, and soy products.It helps to improve the immune system, combat arthritis and cancer, and cure tinnitus and rectal ailments. These are useful in the synthesis of neurotransmitters and hormones in the human body. Asia-Pacific was the largest region in the amino acid market in 2022.Europe was the second largest region in the amino acid market. The regions covered in the amino acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of amino acids are histidine, isoleucine, leucine, glutamate, lysine, methionine, threonine, and other types.Glutamate is used to form proteins in the body. It is a chemical that helps nerve cells in the brain send and receive information from other cells and is involved in learning and memory. The different sources include animal-based and plant-based, which are used in animal feed, food and beverages, pharma and health care, nutraceuticals, cosmetics and personal care, and other applications. 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.For instance, according to an online survey conducted by the Times of India, an Indian-based daily newspaper, in 2021, 70% of the participants stated that they have prioritized dietary lifestyle changes such as eating healthy nutrient-rich food, and 65% of respondents also indicated their increased reliance on nutritional experts to help achieve their goals. Therefore, the rising health consciousness is driving the growth of the amino acid market. 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. In March 2022, Aceto Corporation, a US-based pharmaceutical company, acquired Biotron Laboratories and Talus Mineral Company for an undisclosed amount.Through this acquisition, Aceto Corporation will expand its nutraceuticals and life science businesses and will be able to better serve its customers’ needs. Biotron Laboratories is a US-based company that specializes in manufacturing mineral amino acid chelates and complexes. Talus Mineral Company is a US-based company that manufactures mineral ingredients for supplement use. The countries covered in the amino acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The amino acids market research report is one of a series of new reports that provides amino acids market statistics, including amino acids industry global market size, regional shares, competitors with an amino acids market share, detailed amino acids market segments, market trends and opportunities, and any further data you may need to thrive in the amino acids industry. This amino acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. 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