L-Tryptophan Market Size Estimated to Reach $1.8 Billion by 2026
L-Tryptophan Market size is estimated to reach $1.8 billion by 2026, growing at a CAGR of 10.2% during the forecast period 2021-2026. L-Tryptophan is an essential amino acid that helps the body in making proteins and serves important purposes, like nitrogen balance in adults and growth in infants. It can also be converted into several important molecules, including melatonin. This amino acid also plays a major role in creating serotonin, which is a hormone present in various parts of the body. Increase in the adoption of L-Tryptophan in the animal feed industry, rise in the awareness about the various benefits of L-Tryptophan among developed nations, increase in the demand for L-Tryptophan in dietary supplements, and growing applications in the treatment of depression, behavioral disorders, and premenstrual syndrome are the factors that are set to drive the growth of the L-Tryptophan Market for the period 2021-2026.
L-Tryptophan Market Segment Analysis-By Product Type
The L-Tryptophan Market based on the Product Type can be further segmented into Feed Grade and Pharma Grade. The Feed Grade segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 10.4% over the period 2021-2026. This growth is owing to the factors such as growing demand for L-Tryptophan to balance diets for animals and increase in the awareness about the benefits of L-Tryptophan as a feed grade. It does not have any limitation in dosage for the animal feed. The rise in the adoption of L-Tryptophan amino acid to meet the digestible requirement of animals is driving the growth of the L-Tryptophan Market. The Pharma Grade segment held the second largest share in 2020 owing to the factors such as growing demand for L-Tryptophan amino acid for the commercial biomanufacturing of monoclonal antibodies and increasing applications in the treatment of depression, behavioral disorders, and premenstrual syndrome.
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L-Tryptophan Market Segment Analysis - By Application
The L-Tryptophan Market based on the Application can be further segmented into Animal Feed, Dietary Supplements, Pharmaceuticals, and Others. The Animal Feed segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 10.6% over the period 2021-2026. This growth is owing to its ability of serving as a building block for proteins and as a crucial nutrient for the functions of the nervous and immune systems. The role of L-tryptophan lies beyond protein synthesis appetite regulation and control of sleep via its metabolite serotonin, which is driving the growth of the L-Tryptophan Market. The Dietary Supplements segment held the second largest share in 2020 owing to the factors such as the growing recommendation of L-Tryptophan in dietary supplements and increase in the investment by the key players to produce natural amino acids for usage in dietary supplements.
L-Tryptophan Market Segment Analysis - By Geography
North America held the largest share with 29% of the overall market in 2020. The growth in this segment is owing to the factors such as increase in the demand for L-Tryptophan in animal feed industry, the presence of key players, and increase in the awareness about the benefits of L-Tryptophan in developed nations. The rise in the adoption of L-Tryptophan amino acid in pharmaceuticals is driving the growth of the L-Tryptophan Market. Asia-Pacific is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as growing demand for L-Tryptophan in dietary supplements and rise in healthcare expenditure.
L-Tryptophan Market Drivers
Rise in the Adoption of L-Tryptophan in the Animal Feed Industry
L-Tryptophan has become an essential amino acid for all animals as it cannot be synthesized in the body. Moreover, it serves as a building block for protein and is a critical nutrient for the functions of the nervous and immune systems in animals. It also increases feed intake and serves as a precursor to niacin in poultry, which is one of the major factors that is driving the growth of the L-Tryptophan Market.
Increase in the Demand for L-Tryptophan in Pharmaceuticals
L-Tryptophan is increasingly being marketed as a prescription drug for those who do not seem to respond well to other antidepressants. It is also useful in increasing serotonin production, promoting healthy sleep, managing depression by enhancing emotional well-being, and managing weight. It is also essential for the production of the body's proteins and muscle tissue, which is propelling the growth of the L-Tryptophan Market.
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L-Tryptophan Market Challenges
Side-effects Associated with the Use of L-Tryptophan
L-Tryptophan is increasingly being used to treat several halt ailments such as premenstrual dysphoric disorder, depression, and sleep disorders and also helps in the development and functioning of many organs. However, the side-effects associated with the use of L-tryptophan amino acids, such as eosinophilia and kidney diseases is one of the major factors that is estimated to reduce the growth of the L-Tryptophan Market.
L-Tryptophan Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the L-Tryptophan Market. Key companies of this market are Glanbia Plc, Archer Daniels Midland Company, Cellmark AB, A & Z Food Additives Co Ltd, Meihua Holdings Group Co Ltd, Bio-Chem Technology Group Company Limited, Evonik Industries AG Personal Care, Wuxi Jinghai Amino Acid Co Ltd, CJ Cheiljedang Corp, and Zhejiang Guoguang Biochemistry Co Ltd among others.
Key Takeaways
Geographically, North American L-Tryptophan Market accounted for the highest revenue share in 2020 and is poised to dominate over the period 2021-2026 owing to the growing adoption of L-Tryptophan in the animal feed industry.
The rise in the adoption of L-Tryptophan amino acid to meet the digestible requirement of animals is driving the Feed Grade segment.
The side-effects associated with the use of L-tryptophan is one of the major factors that is said to reduce the growth of the L-Tryptophan Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the L-Tryptophan Market report.
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