Newark, NJ, Feb. 15, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global lysine market is expected to grow from USD 7.32 billion in 2020 and to reach USD 13.05 billion by 2028, growing at a CAGR of 7.5% during the forecast period 2021-2028.
The global lysine market has witnessed significant growth in the recent years. This growth is attributed to the increasing R&D expenditure to maximize capacity, growing demand for functional food ingredients, expansion of livestock industry, and growing meat consumption of meat. Other factors such as consumer preferences towards healthy eating, rising consumer awareness regarding the trend of protein consumption, and increasing agricultural productivity propels the market growth. Increasing use of lysine as an herbal supplement, increasing demand for the product that provides lysine, and consumption of lysine for improving body enzymes propel the market.
An essential amino acid that cannot be prepared by the body and needs to be obtained from dietary sources is known as lysine. Lysine mainly has two biosynthesis pathways, α-aminoadipate and the diaminopimelate that employs distinct substrates and enzymes and are available in diverse organisms. It is produced by a microbial fermentation process. The health benefits offered by lysine supplements include preventing the symptom of lysine deficiency, reducing blood pressure, and improving cold sores. Lysine is also used to increase the absorption of calcium.
The global lysine market is expected to witness significant growth, owing to the increasing usage and benefits of lysine in animal feed, health benefits associated with the consumption of lysine, rising demand for functional foods, increase in the number of health consumption, and use of lysine by cattle feed. The factors restraining the market growth are strict feedstock supply, the presence of lysine substitutes, and fluctuating prices of raw materials. The use of lysine for the production of lysine monohydrochloride will provide market growth opportunities. However, strict safety norms by the government challenge the market growth.
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The key players operating in the global lysine market are Avantor Performance Materials LLC, Evonik Industries, Swanson Health Products, Aspartame, Amino GmbH, AJINOMOTO Co., Inc., Yamei, Parchem fine & specialty chemicals, CJ CheilJedang Corp, Elixir Group, and Meihua Group. To gain a significant market share in the global lysine market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in November 2016, a rapidly growing international trader and distributor of raw materials, Globe Ingredients was acquired by Barentz. Globe Ingredients is based in Serbia, Colombia, Holland, and China. This acquisition will help the company expand its product portfolio and expand the wide network of high-quality animal nutrition supplies.
Swine segment dominated the market and held the largest share of 48.2% in the year 2020
On the basis of livestock, the global lysine market is segmented into poultry, swine, and others. The swine segment dominated the market and held the largest share of 48.2% in the year 2020. This growth is attributed to the rising demand for pork meat, high nutrition like vitamins, minerals, niacin, iron, and phosphorus. Poultry segment is anticipated to witness significant growth, due to increasing demand for processed meat, the necessity for meat quality improvement, and improvement in flock performance and balanced nutrition.
Animal Feed segment dominated the market and held the largest share of 45.8% in the year 2020
On the basis of application, the global lysine market is segmented into pharmaceuticals, animal feed, food & dietary supplements, and others. The animal feed segment dominated the market and held the largest share of 45.8% in the year 2020. This growth is attributed to the cost-efficient substitutes of lysine and the low cost of animal feed. Food & Dietary segment is anticipated to witness significant growth, owing to the rising demand for protein supplements, rising living standards, population expansion, and rising demand for sports nutrition.
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Regional Segment of Lysine Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global lysine market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region held the largest share of 35.8% in the year 2020. This growth is attributed to the increasing consumption of chicken, pork, and duck in countries like Japan and China. Various other South-East Asian countries drive the market due to increasing demand for natural ingredients and growing meat consumption. North America region is anticipated to witness significant growth due to limited availability of major feedstock and increasing use of lysine as body supplements. Latin America region is dominated by Brazil and Mexico, owing to growing poultry and beef exports. The Europe region is expected to grow, due to increasing awareness about food safety and increased focus on the nutritional requirements of the animals.
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About the report:
The global lysine market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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