Global Methionine Market: Overview
The global methionine market is expected to grow with growing meat consumption around the world. One of the major factors which are driving the global market for methionine is increasing meat consumption, primarily by the increasing population of developing countries such as China, India, and Brazil etc. Developed economies such as the U.S. and Western Europe are considered to be mature markets and are expected to grow at a lower rate compared to developing countries. Methionine is an amino acid that acts as a building block to form proteins. It is also used for increasing the quantity of lean meat. Methionine has gradually replaced the market for fish powder as it is more efficient than fish powder.
China is one of the biggest manufacturers of animal feed in the world and the country is also one of the biggest consumers of methionine which is used as a supplement for piglets and ruminants. The growth of the middle class population in many countries across the world is also expanding the global methionine market. However, the volatility in raw material prices and the rising energy prices, which have a direct impact on the overall production cost, are acting as the major factors hindering the market growth.
The concept of bio-based methionine has been there in the global market for many years now and companies are developing bio-based methionine for several years. In January, 2012 France based METabolic EXplorer (METEX) and Roquette joined hands to initialize industrial study on bio-based methionine. CJ CheilJedang and Arkema are also planning to build bio-based methionine manufacturing plants in Southeast Asia. The plant is expected to materialize by the end of 2013 with a capacity to produce 80 kilotons of bio-based methionine per year.
Global Methionine Market: Key Players
Some of the companies operating in the global methionine market include China National BlueStar, Jinzhou Amino Acid Co., Evonik Industries, Novus International, Sumitomo Chemical, and Nippon Soda, among others.
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