Lucintel’s latest market report analyzed that amino acid provides attractive opportunities in the animal feed, food and dietary supplements, and pharmaceutical industries. The amino acid market is expected to grow at a CAGR of 7%-8%. In this market, plant based is the largest segment by source, whereas food and dietary supplements are largest by application.
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Based on source, the amino acid market is segmented into plant based and animal based. The plant based segment is accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period due to growing consumer awareness regarding natural and organic products.
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The amino acid market is marked by the presence of several big and small players. Some of the prominent players offering amino acid include Amino Inc., Ajinomoto Group, Cargill Incorporated, Evonik, and Novus International.
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