Methionine Market – Market Overview
Methionine is the vital amino acid needed for the growth and tissue repair in human and animal. High level of the methionine can be found in eggs, spinach, cheese, fish, nuts, meat, and poultry. The overall application scope of the methionine covers applications in animal feed, food & beverages, pharmaceutical sand others. Factors such as massive consumption of methionine in animal feed for animal health and nutrition is the major factor supporting the overall growth of this market. Furthermore, increasing health issues in old age population is providing scope for methionine consumption and is further expected to drive global demand. On the spit side, complexities in the methionine production is creating brier over the growth of this market. This factor is hampering the global demand and is further expected to challenge the global demand over the given period.
Factor such as high cattle production in China, India, and other South East Asian countries is the major factor led the domination of Asia Pacific region on global market. The region is the largest producer as well as consumer of the methionine and has accounted for the largest global share. Shifting patterns towards nutritional food including fish, meat, and beef linked with augmented economic spending power is surging methionine demand across Asia Pacific region. North America is the second largest region followed by the Asia Pacific and is witnessing highest CAGR among all. Europe and Middle East both of the region expected to show moderate growth over the assessment period.
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Industry competition observed in this market is medium to high. The global market lacks in the presence of the established market leaders in the market. Methionine Market consist of large number of global players including Sumitomo Chemical Co, Ltd, Evonik Industries, Bluestar Adisseo Co Ltd, Novus International, Tokyo Chemical Industry Co ltd, Sunrise nutrachem Group, Prinova Group LLC Amino Gmbh. Most of the listed player in this market are Tier-2 and Tier-3 players and are competing against each other to exploit the growth offered by this market. Even though, global competition is medium over the last few years, it is expected to get high over the assessment period.
May 19, 2016- Sumitomo Chemicals have commences new production plant and have expanded methionine production line in Japan. It is the key market in Asia Pacific and active demand is observed in this economy for feed additive. Sumitomo Chemicals were operating at existing production capacity of 150,000 tones/per year. It has added additional 100,000 tons of methionine. As per the proposed plan, this production capacity will be undertaken in third quarter of 2018.
December 6, 2016 – Sumitomo Chemicals and Itochu Corporation have formed joint venture for methionine distribution. Together both of these companies have bound in an distribution agreement, wherein, feed additive methionine which is to be produce in a new production line at the Ehime Works of Sumitomo Chemicals. Scope of the this partnership includes establishment of joint venture to drive the sales of methionine manufactured (1,00,000 tonnes) in new production line. Itochu would be responsible for the distribution of methionine.
October 19, 2016 – Evonik Industriesstarted construction of second methionine production plant in Singapore. This production plant is a major expansion and is being undertaken and a result of augmented emend for DL-methionine in continued demand for animal nutrition. Initially this plant would be capable of producing 300,000 metric ton per year of methionine.
November 27, 2015 – Sumitomo Chemicals have doubled their poultry feed additive and expanded production capacity of methionine. It has spent USD 485 million for this capacity addition. To cater increasing demand form the poultry from China and Asian country level markets.
October 1, 2015 – Evonik Industries have added 150,000 tones/year methionine product capacity. Increasing animal nutritional awareness is the key factor driving the demand for methionine demand and has led this expansion. With this expansion, Evonik Industry follows the global megatrend of health and nutrition, which is raising the DL-methionine growth.
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