The global cysteine market is estimated to garner a revenue of ~USD 500 million by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 356 million in the year 2021. The market is estimated to grow on the back of increasing demand for cysteine from pharmaceutical industry. In the pharmaceutical industry, cysteine is used to make its derivatives, which are further used as a processing aid in refolding of genetically modified proteins. Moreover, the growth of pharmaceutical industry is anticipated to provide attractive growth to propel the global cysteine market in the coming years. According to the data, under the Strengthening Pharmaceutical Industry (SPI) scheme in India, a financial outlay of about USD 660 million was announced for the further development of the pharmaceutical industry for the period from 2021-22 to 2025-26.
The global cysteine market is also estimated to witness growth on the back of rising adoption of cysteine from cosmetic industry, as it is used as an anti-agent. According to estimates, more than 45 billion are produced from cosmetic sales in the United States each year. The rising identification and detection of diseases or disorders caused by cysteine deficiency in human body is also expected to boost the market growth. Moreover, rising health awareness and increasing proportion of disposable income are also projected to drive the growth of global cysteine market in the coming years.
Global Cysteine Market: Growth Drivers and Challenges
The global cysteine market is segmented and analyzed for demand and supply by end use industry into food, pharmaceutical, animal feed and others. Out of these segments, the food industry is estimated to garner the largest market share by the end of 2031, backed by the increasing growth and sales of food and beverages industry. According to the data, about USD 2.1 trillion of food was supplied by the food retail and food service industry in 2021, of which about USD 1.1 trillion worth of food was supplied by food service facilities. Cysteine is widely used as a process flavoring in the food industry and is mostly adopted when preparing meat seasonings and roasting flavors. In addition, the increased consumption rate of food and health care supplements in the day-to-day diet is also projected to support the growth of this segment in the coming years.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global cysteine market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to hold the largest market share by the end of 2031. This can be accredited to the increasing level of geriatric population and growth of pharmaceutical industry in the region. According to statistics, in 2019, there were approximately 53 million people over the age of 65 in the United States, representing about 16% of the population, which is projected to reach 21% by 2040. Hence, such factors are estimated to drive the growth of the market in the region during the forecast period.
Further, the market in Asia Pacific is estimated to register significant growth during the forecast period, owing to the growth of food and beverage industry in the region. In India, the bakery industry is increasing its expansion and the demand for cysteine from the bakery industry is also expected to increase owing to dough conditioning and other applications. Moreover, increasing production of biscuits and cookies is also estimated to drive the growth of global cysteine market in the region during the forecast period. According to statistics, around 630 thousand metric tons of biscuits and cookies were produced in the South Asian country of India in 2020.
The global cysteine market is further classified on the basis of region as follows:
Our in-depth analysis of the global cysteine market includes the following segments:
By Production Process
By End Use Industry
FREQUENTLY ASKED QUESTIONS
Increasing demand for cysteine from pharmaceutical and food industry is estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.
High production cost of synthetic cysteine is estimated to hinder the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Nippon Rika Co., Ltd., Ajinomoto Co., Inc., Wuxi Bikang Bioengineering Co., Ltd., Merck KGaA, BCF Life Sciences, Croda International Plc, Chemyunion, Inc, Asiamerica Group, Inc. and others
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by production process, application, end use industry and by region.
The food industry segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization