The methionine market has been forecast to reach an industry value of US$3.3 billion by 2018, driven by population growth, rising meat consumption, growth within the global poultry industry and the increasing need for improving food efficiency.
Meat consumption continues to grow across the globe. Growing demand for meat products is exerting pressure on meat producers to enhance production and maximize yield, which in turn is generating demand for animal feed additives, including methionine.
Methionine is an important poultry and livestock dietary supplement, which helps in enhancing farm economics and yield with minimal inputs.
Poultry represents the largest end-use market for methionine. As a result, demand and production of methionine moves parallel with changes in production levels of poultry. During the year 2008, decline in production of poultry worldwide led to a drop in sales of methionine, resulting in piling of stocks and reduction of prices. The market however recovered in 2009 as a result of resurgence in demand for poultry meat.
Despite the availability of several methionine sources, use of HMTBa has been rising over the years. One of the key factors driving adoption of HMTBa is the expansion of its use beyond the poultry segment. HMTBa is increasingly being used in ruminant feed. Key factors driving the use of HMTBa in livestock and poultry feed include commercial benefits, such as, optimized animal growth and higher meat yields.
Developments in natural methionine supplements as a result of growing focus on sustainable livestock development are forecast negatively impact demand for synthetic methionine. There is a growing preference among livestock producers for cost effective methionine-rich feed composition for feeding animals.
Asia-Pacific represents the largest region within the methionine market. The region is also forecast to emerge as the fastest growing region with a projected compound annual growth rate (CAGR) of 6% through to 2018. Growth in Asia is led by China, which is expected to witness strong demand for methionine, primarily driven by increasing demand for meat products.
For more information on the methionine market, see the latest research: Methionine Market
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