Global lysine market to double in value by 2033, driven by demand in animal feed

From GlobeNewswire: 2024-07-02 15:00:00

The Global Lysine Market is set to almost double in value, growing from USD 6.8 billion in 2023 to USD 13.4 billion by 2033, with a CAGR of 7.02%. Demand for lysine in animal feed is driven by growing meat consumption, particularly in emerging countries, as it aids in animal growth and higher-quality meat production. Key players in the market include Cargill, Dow, BASF, and DSM.

The animal feed segment is expected to dominate the global lysine market, offering an affordable and efficient substitute for expensive crude proteins found in maize and soybeans. Lysine hydrochloride is projected to have the largest market share, commonly used in animal nutrition to meet lysine needs and promote muscle growth. Asia Pacific is expected to lead the market due to rising meat consumption, while North America will see fast growth driven by the pharmaceutical and personal care industries.

Recent developments include an anti-dumping investigation by the European Commission into lysine imports from China, impacting the global lysine market. The market is segmented by application, type, form, and region, with key regions including North America, Europe, Asia Pacific, South America, and Middle East & Africa. Major vendors in the market include Cargill, BASF, and DuPont.



Read more at GlobeNewswire: Global Lysine Market Size To Worth USD 13.4 Billion By 2033