New York, October 11, 2021 – Reports and Data has published its latest report titled “Taurine Market, By Form (Tablets/Capsules, Syrup, Powder), By Grade (Food Grade, Pharmaceutical Grade), By Source (Meat, Fish, Dairy), By Application (Pharmaceutical Products, Food & Beverages, Personal Care & Cosmetics, Pet Food, Animal Feed, Others), And Region – Global Forecast To 2028”
Increasing applications of taurine in the food & beverage and personal care & cosmetics industries are expected to bolster market revenue growth over the forecast period
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According to Reports and Data, the global taurine market size was USD 264.18 million in 2020 and is expected to reach USD 433.8 million in 2028 and register a revenue CAGR of 6.3% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Taurine, also called amino sulfonic acid, is a chemical that naturally occurs in the human body and plays several vital functions. It is mainly present in the brain, heart, retina, and blood cells in large quantities, and it its generally sourced meat, fish, and eggs. Some of its key functions include regulating body cells, stabilizing cell membranes, and production of bile salts in the body. Other important functions include long-term potentiation in the hippocampus, feedback inhibition of neutrophils, adipose tissue regulation, inhibitory neurotransmission, and membrane stabilization.
Revenue growth of the global taurine market is primarily attributed to growing awareness of the health benefits of taurine including calcium homeostasis, prevention of obesity, recovery from osmotic shock, protection against glutamate excitotoxicity, and prevention of epileptic seizures. Increasing medicinal applications of taurine due to its anti-neurotoxic and anti-inflammatory effects and effectiveness in inhibiting tumor cell proliferation, increasing prevalence of taurine deficiency in the body caused by depression, anxiety, epilepsy, and hyperactivity, and increasing consumption of taurine supplements available in the forms of tablets, capsules, and syrups are other major factors driving the global market growth. Increasing use of taurine in food & beverage and personal care & cosmetic products and rising demand for taurine-rich animal feed and pet food products further bolster market revenue growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Tablets/Capsules Segment to Account for Fastest Revenue CAGR:
Based on form, the tablets/capsules segment is projected to register the fastest revenue growth rate over the forecast period. Factors contributing to growth of this segment rising consumer awareness of the health benefits of taurine, increasing sales of taurine supplements, and growing occurrence of taurine deficiency in both humans and animals. Rising cases of depression, anxiety, hypertension, and epilepsy, and growing inclination towards unhealthy lifestyles, especially among millennials, further drive this segment’s growth.
Food & Beverages Segment Dominated Other Application Segments in 2020:
Based on application, the food & beverages segment was the most dominant in terms of revenue in 2020. Increasing usage of taurine in food & beverages – particularly in functional and energy drinks and beverages – growing demand for highly functional foods & beverages among sportsmen, athletes, and fitness enthusiasts, rising awareness of health and wellness, and growing consumption of foods rich in taurine, including eggs, meat, and seafood are the major factors accounting for growth of this segment.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, the North America taurine market accounted for the largest revenue share contribution in the global taurine market in 2020. Major factors contributing to the regional market revenue growth are rising awareness of health benefits of taurine, increase in disposable income, and rising adoption of healthier lifestyles, increasing consumption of taurine supplements for various physiological and biological benefits, and increasing demand for cosmetics & personal care products, which usually contain taurine for skin-related benefits. Growing consumption of energy drinks and functional foods, increased spending on pet food and animal feed, and rising consume disposable incomes further boost the North America taurine market growth.
Major Companies in the Market Include:
- 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.
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For the purpose of this report, Reports and Data has segmented the global taurine market based on form, grade, source, application, and region:
Form Outlook (Revenue, USD Billion; Volume, 2018-2028)
Grade Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Food Grade
- Pharmaceutical Grade
Source Outlook (Revenue, USD Billion; Volume, 2018-2028)
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Pharmaceutical Products
- Food & Beverages
- Dairy Products
- Infant Formulas
- Bakery Products
- Cereal Products
- Energy Drinks
- Soft & Carbonated Drinks
- Personal Care & Cosmetics
- Skin Care Products
- Hair Care Products
- Pet Food
- Animal Feed
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Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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