Methionine Market Summary
As per Market Research Future Analysis, the Global Methionine Market was valued at USD 3 Billion in 2022 and is projected to grow from USD 4.1 Billion in 2023 to USD 6.9 Billion by 2030, with a CAGR of 6.00% during the forecast period. Key drivers include rising health issues, increased consumption of animal-based products, and advancements in animal husbandry practices. The market is segmented by type, with Dl-Methionine holding the majority share, and by end-use, where Food & Beverage is the fastest-growing segment. The Asia-Pacific region is a significant consumer and producer of Methionine, with China leading in production. North America remains the dominant market, driven by strong demand in the U.S. and Canada.
Key Market Trends & Highlights
The Methionine market is witnessing significant growth driven by various factors.
- Market Size in 2022: USD 3 Billion.
- Projected Market Size by 2030: USD 6.9 Billion.
- CAGR during 2023-2030: 6.00%.
- Food & Beverage segment projected to be the fastest-growing during the forecast period.
Market Size & Forecast
2022 Market Size | USD 3 Billion |
2023 Market Size | USD 4.1 Billion |
2030 Market Size | USD 6.9 Billion |
CAGR | 6.00% |
Major Players
Key players include Sumitomo Chemical Co., Ltd, Evonik Industries AG, Bluestar Adisseo Co., Ltd., Novus International, and AJINOMOTO CO., INC.