Phenylalanine Market to Grow with a CAGR of 3.49% through 2028
Increasing cases of anxiety and depression in
people are expected to drive the Global Phenylalanine Market growth in the
forecast period, 2024-2028.
According to
TechSci Research report, “Phenylalanine Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Phenylalanine Market stood at USD 550.13 Million in 2022 and is
anticipated to grow with a CAGR of 3.49% through 2028. Depression, attention
deficit hyperactivity disorder (ADHD), Parkinson\'s illness, multiple
sclerosis, vitiligo, acupuncture anesthesia, osteoarthritis, rheumatoid
arthritis, weight reduction, and alcohol withdrawal symptoms are all treated
with phenylalanine. Phenylalanine is a protein-producing amino acid that is
utilized to control anxiety and depression levels. Therefore, the global
phenylalanine market is expected to be driven by an increase in rate of
depression among various age groups. According to World Health Organization
(WHO) figures, over 300 million people of all ages suffered from depression,
with about 800,000 individuals dying by suicide as a result of anxiety
disorders and depression as the primary cause. Furthermore, the phenylalanine
industry is being driven by the rising frequency of pain and chronic disorders
such as cancer and others. According to the National Cancer Institute,
approximately 1,735,350 new instances of cancer were identified in the United
States in 2018, with 609,640 individuals projected to die from the disease.
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"Global Phenylalanine Market”
The Global Phenylalanine
Market is segmented into Medication Type, Application, End Users, and
company.
Based on the
Type, the L-Phenylalanine segment is anticipated to witness substantial market
growth throughout the forecast period. L-Phenylalanine, a vital component of
the global phenylalanine market, is poised to be a key driver of growth. This
essential amino acid serves as a building block for proteins and
neurotransmitters, making it integral to various industries, particularly in
pharmaceuticals and food additives. In the pharmaceutical sector,
L-Phenylalanine is utilized in the production of drugs and nutritional
supplements, contributing to its increasing demand due to its potential health
benefits. In the food and beverage industry, L-Phenylalanine's role in the
synthesis of aspartame, a widely-used low-calorie sweetener, positions it as a
crucial ingredient for formulating sugar-free and low-calorie products. As
consumer preferences shift towards healthier alternatives, the demand for such
products is on the rise, propelling the growth of the global phenylalanine
market. Furthermore, the versatility of L-Phenylalanine in the development of
functional foods, energy drinks, and dietary supplements aligns with the
evolving trends in the health and wellness sector. Manufacturers are leveraging
the amino acid's properties to innovate and meet the demands of
health-conscious consumers, thereby contributing significantly to the expansion
of the global phenylalanine market.
Based on the
End-Users segment, the Hospital Pharmacies segment has been the dominant force
in the market. The dynamic growth of the global phenylalanine market is
intricately tied to the robust expansion of the food and beverage industry.
Phenylalanine, as an essential amino acid, plays a pivotal role in the
production of aspartame, a widely-utilized low-calorie sweetener prominently
featured in the formulation of numerous food and beverage products. With an
increasing global population and evolving consumer preferences, the demand for
healthier alternatives and low-calorie options has surged, propelling the
prominence of phenylalanine in the industry. As health-consciousness becomes a
paramount consideration for consumers, food and beverage manufacturers are
actively incorporating phenylalanine to develop products that cater to the
growing preference for reduced sugar and calorie content. This amino acid's
versatility extends beyond sweetening; its contribution to protein synthesis
makes it a valuable component in functional foods and beverages, aligning with
the industry's focus on providing not just sustenance but also nutritional
benefits. Furthermore, the continuous innovation in product formulations,
driven by the need to meet diverse consumer demands, positions phenylalanine as
a key ingredient in the evolving landscape of the food and beverage market.
Major companies
operating in Global Phenylalanine Market are:
- Ajinomoto Co., Inc.
- DAESANG
- Livzon
- KYOWA HAKKO BIO CO., LTD.
- Amazing Nutrition
- AMINO GmbH
- Wuxi Jinghai Amino Acid Co., Ltd.
- Shijiazhuang Jirong Pharmaceutical Co., Ltd.
- Shijiazhuang Haitian Amino Acid Co., Ltd.
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“The Global
Phenylalanine Market is experiencing robust growth driven by several key
factors. Firstly, the increasing demand for phenylalanine in the food and
beverage industry is a significant driver. Phenylalanine is an essential amino
acid widely used as a sweetener and flavor enhancer in various food and beverage
products, contributing to its heightened consumption. The rising awareness of
health and wellness among consumers has led to a surge in demand for dietary
supplements and functional foods, where phenylalanine plays a crucial role. As
people become more conscious of their nutritional intake, the demand for
products containing phenylalanine as a nutritional supplement has witnessed a
substantial uptick. The pharmaceutical industry's reliance on phenylalanine for
the synthesis of certain drugs and medications has contributed to market
growth. The pharmaceutical sector's expansion, driven by an aging global
population and increasing prevalence of chronic diseases, has further fueled
the demand for phenylalanine.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Phenylalanine
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Medication Type (Monotherapy, Combination Therapy), By
Drug Type (Aminoglycoside, Cephalosporin, Carbapenem, Monobactam, Others), By
Route Of Administration (Nasal, Oral, Intravenous), By Distribution Channel
(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region, By
Competition”, has evaluated the future growth potential of Global
Phenylalanine Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Phenylalanine Market.
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