Global Industry Analysts Predicts The World Feed Grade L-Carnitine Market To Reach $56.9 Million by 2026
SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Feed Grade L-Carnitine - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 17; Released: February 2022
Executive Pool: 499
Companies: 22 - Players covered include ChengDa PharmaCeuticals Co., Ltd.; Huanggang Huayang Pharmaceutical Co., Ltd.; Kaiyuan Hengtai Chemical Co., Ltd.; Liaoning Koncepnutra Co., Ltd.; Lonza Group Ltd.; Northeast Pharmaceutical Group Co., Ltd. (NEPG); Shanghai Kangxin Chemical Co., Ltd.; Xinxiang Kangjian Chemical Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Process (Fermentation, Chemical Synthesis); Application (Liquid / Wet Formulations, Dry Feed Formulations)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Feed Grade L-Carnitine Market to Reach US$56.9 Million by the Year 2026
L-carnitine is primarily an amino acid that is produced naturally in human body. Amino acids are the fundamental constituents of protein. Additionally, L-carnitine also plays a critical role in fat metabolism by transporting fatty acids into mitochondria, which is the metabolic energy source of every cell. L-carnitine can be found in microorganisms and plant and animal cells. In animals, the substance is exclusively synthesized in liver. Two critical amino acids that include methionine and lysine act as primary substrates for the biosynthesis of L-carnitine, with folates, vitamin C, nicotinic acid, and vitamin B6 are needed as cofactors. L-carnitine plays a critical role in energy metabolism in the cells by transporting the acyl groups from the cytoplasm to the mitochondrial matrix for oxidation. Additionally, the substance regulates the concentration of coenzyme A in mitochondria and cytosol during the lipoid and glucose metabolisms. Amid the COVID-19 crisis, the global market for Feed Grade L-Carnitine estimated at US$42.7 Million in the year 2022, is projected to reach a revised size of US$56.9 Million by 2026, growing at a CAGR of 6.5% over the analysis period. Fermentation, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$35.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chemical Synthesis segment is readjusted to a revised 5.7% CAGR for the next 7-year period. This segment currently accounts for a 39.5% share of the global Feed Grade L-Carnitine market.
The market is forecast to witness notable expansion in the upcoming years by attaining a high annual average rate of growth. Global feed grade L-carnitine industry is dominated by a handful of players, and thus the market is highly concentrated in nature. Animal feed additives represent the leading end-use market for Feed grade L carotinide. Animals need nutritional feed in sufficient quantities to grow to their full potential. The nutritional requirements of most farm animals are satisfied from major feed ingredients, which include wheat, maize, and soybean. However, continued reliance on these feed ingredients can lead to a deficiency of specific essential nutrients. As a result, farm animal diet needs to be supplemented through supplements in the form of feed additives, spurring the usage of efficient feed additives. Feed additives help optimize the yield potential of animal production by aiding in superior digestibility of feedstuffs and satisfying the nutritional needs of animals. Feed additives also improve the living environment of animals by preventing or reducing the pollution caused due to animal manure. Further, Feed additives improve functionality, increase nutritive value, control the incidence of infections and promote overall growth of animals.
The U.S. Market is Estimated at $8.3 Million in 2022, While China is Forecast to Reach $13.8 Million by 2026
The Feed Grade L-Carnitine market in the U.S. is estimated at US$8.3 Million in the year 2022. The country currently accounts for a 19.56% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$13.8 Million by the year 2026 trailing a CAGR of 7.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR while Rest of European market (as defined in the study) will reach US$15 Million by the close of the analysis period.
Restrictions in North America and Europe on livestock waste disposal are prompting manufacturers to use amino acids in animal diets to reduce environmental pollution by lowering nitrogen content in animal manure. Animal feed additives are rapidly rising in popularity based on its vast medicated as well as non-medicated applications for poultry, pig, aquaculture, companion animals, and ruminant feed. Increasingly health-conscious consumers, continued breakthroughs, especially in research and clinical applications areas, and expanding commercial applications will help ensure sustained growth in the market. Feed-grade additives play a key role in improving the economics of animal farming, thereby propagating industrialization of meat production to fulfill the requirement for protein. A steady stream of products in development phase bears testimony to the interest surrounding animal nutrition and health for both pets and food animals. More
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www.StrategyR.com
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