Selbyville, Delaware, Sept. 07, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the Europe amino acid market was estimated at $3.9 billion in 2019 and is slated to exceed $5.9 billion by 2026, registering a CAGR of 5% from 2020 to 2026. The report provides a thorough analysis of the major winning strategies, market estimations as well as size, main investment avenues, competitive scenarios, drivers and opportunities, and wavering industry trends.
Europe amino acid market from pet food is likely to grow with a CAGR of over 4.5% by the end of 2026 owing to increasing concerns on pet health and the rapid adoption of high-quality pet food. Changing consumer perceptions towards animal health and increasing expenditure on pet wellbeing is likely to encourage use. Furthermore, industry players are rapidly experimenting with amino acid solutions in pet food solutions to gain maximum market share by providing unique and high-performance pet food solutions.
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The aquaculture segment is likely to grow with a CAGR of over 5% owing to rapid adoption in fish feed applications. The increasing prevalence of seafood borne diseases and rising seafood industry is likely to boost product demand. Amino acid solutions are widely used in manufacturing high-quality aquaculture feed solutions as it improves resistance against diseases such as dropsy, fin rot, and fungal infections. Industry players are rapidly investing in research to manufacture high-quality ingredients for aquaculture industry and investing in marketing to boost product penetration in the Europe amino acid market.
Manufacturers in the European amino acid market are rapidly engaged in research & new product development to maintain quality and stay competitive in the post COVID economy. Industry players are entering long term contracts with suppliers to provide a cost advantage in a competitive and fragmented industry environment. Furthermore, key industry players are opting for strategic and consolidation measures to strengthen their presence in Europe.
Some major findings of the Europe amino acid market report include:
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Primary players include Glanbia Nutritionals, Adiesseo France S.A.S, Newtrend Group, Kemin Industries, DSM, Evonik, Novus International, and Archer Daniel Midland (ADM)
Industry players are rapidly investing in new product development in an attempt to capitalize on emerging healthcare trends, thus boosting Europe amino acid market. Manufacturers in Europe amino acid market are rapidly engaged in developing indigenous technology and new product development measures to stay competitive in the industrial sphere.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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