Future Market Insights (FMI), in a new study has forecast the demand for taurine to surge considerably in the coming years. Driven by diverse end-use applications, the global taurine market is set to reach US$ 364.4 Mn by 2021. Growth forecasts continue to remain strong, thanks to rising focus on health and wellness. The market will witness impressive growth opportunities through the forecast period, especially as application continues to surge in beverage sector.
In the European Union and China, taurine is considered essential in fish feed and is also authorized to be used for all species of fishes. There are rising speculations of replacing meat and marine-based products from the fish feed with alternate protein sources. Plant-based protein for instance soybean meal with taurine makes an excellent meal for fish, comprising of all essential nutrients required.
Request a report sample to gain comprehensive market insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2746
Key Takeaways from the Taurine Market Study
- Taurine market will continue showcasing solid growth through forecast period. It is projected to record 6.9% Y-o-Y growth in 2021
- The U.S. will continue exhibiting high demand and account for dominant 82.6% of the North America market
- Growth in the U.K. to remain positive as the country is forecast to exhibit 4% Y-o-Y growth in 2021
- France and Germany will emerge as lucrative pocket for taurine sales in Europe
- While growth rate in Japan and South Korea will remain positive, China is expected to account for leading market share through forecast period
“Surging demand for cosmetic products and health care products has a great impact on the taurine market. Manufacturers of taurine are intensively researching for enhancing production process of taurine to serve the large market which has further potential to grow.”
Alternate Source of Taurine in Development
The increasing vegan population has bolstered the need for an alternate source of taurine, either plant-based or synthetic process. A large number of taurine manufacturers depend on the latter method for taurine production as chemical processes are easy to control and can alter production quantity as per requirement. The synthetic production process of taurine also requires less number of raw material, whereas natural sources such as algae need to be handled well for adequate production of taurine.
Taurine manufacturers are developing these innovative processes and patenting under their name to maintain their market position with high quality of taurine.
Taurine in Energy Drinks
Taurine is a crucial ingredients in energy drinks and is prominently used by key manufacturers such as Redbull, Monster Drink. Energy drinks claims to have several health benefits, owing to which millennials and gen-z are anticipated to gravitate towards these products and taurine will experience a cascading effect of increase in demand in the forecast period.
Who is winning?
A few of the leading players operating in the Taurine market are MTC Industries Inc., Stauber USA., Foodchem International Corporation, The Honjo Chemical Corporation, Qianjiang Yongan Pharmaceutical Co., Ltd., New Zealand Pharmaceuticals Ltd., Ajinomoto Co., Inc., Kyowa Hakko Bio Co., Ltd., Jiangsu Yuanyang Chemical Co., Ltd., Fuchi Pharmaceutical Co., Ltd., Penta Manufacturing Company, Mitsui Chemicals, Inc., AuNutra Industries Inc., Hebi City Hexin Chem Ind. Co., Ltd., and other players.
For Information On The Research Approach Used In The Report, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-2746
Several leading manufacturers of taurine are focusing on strengthening production capacity and distribution channels to expand their footprint in the global market. Leading players also are investing in research and development to produce organic, non-GMO ingredients for Taurine and to develop a novel production process that will also be suitable for consumption by vegan and flexitarian.
Manufacturers are also seen capitalizing on the opportunity in the food processing industry. Taurine is known to act as an emulsifier and flavoring agent in many processed food. Manufacturers are producing baby food formula with taurine as an ingredients that are targeted for neonatal who are born under-weight or premature.
- In August 2019, Foodchem International Corporation commenced the expansion project in Jiangxi Province, China owing to the rising demand of taurine.
- Qianjiang Yongan Pharmaceutical Co., Ltd., is further planning to expand its production capacity of taurine. For supporting this aim, the company has started strengthening its distribution network by opening warehouses and storage capacity.
Get Valuable Insights into Taurine fiber Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Taurine market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Taurine market based on End Use Application (Food, Beverage, Animal Feed, Pet Food, Pet Supplements, Dietary Supplements, Cosmetics & Personal Care Products, Agriculture, and Pharmaceuticals), across seven major regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.