NEWARK, Del, Sept. 05, 2022 (GLOBE NEWSWIRE) — Future Market Insights is a prolific ESOMAR-certified market research and advisory firm, which recently released its new taurine market study which offers in-depth analysis and key factors taurine demand. The report tracks global taurine sales in over 20 high-growth markets, combined with analysis of the impact of COVID-19 on the food and beverage industry in general, and taurine in particular.
Taurine is known as the “miracle molecule” in the food and beverage industry which is overused in products such as energy drinks, food supplements, and others. Due to its application for animals and human beings, it has managed to mark its presence in the global landscape. Taurine as an ingredient has witnessed several applications which are not only limited to the food and beverage industry but also extend to hair care, skin care and baby toiletries.
According to research conducted by the Food and Drugs Administration (FDA), taurine has been declared “generally recognized as safe” (GRAS) by Intertek Scientific and Regulatory Consultancy. This has enabled taurine to be exempted from pre-market approval and its widespread application in beverages has fueled the growth of the taurine market throughout the forecast period.
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Key points to remember
- Taurine was extracted from bulls or sheep in the early days, but growing awareness of animal cruelty and animal welfare is causing consumers to refrain from using taurine extracted from these traditional sources.
- The extensive applications of taurine are recognized by manufacturers and consumers. This has led to the increasing development of several products containing one ingredient, for example, baby food, cosmetics and personal care. The double-ended use of taurine application is increasing the awareness of its application and growing demand in the global market.
- Taurine is secreted in every individual and its secretion decreases with age. Taurine deficiency is common in people with chronic conditions such as diabetes, cancer, or coronary heart disease. Taurine deficiency often leads to health disorders such as certain pathological changes and cardiomyopathy, kidney dysfunction, developmental abnormalities and severe damage to retinal neurons. Due to growing anomalies, the demand for taurine is skyrocketing during the forecast period.
- In order to eliminate common diseases in humans, taurine is often used as a food additive. According to the American Association of Feed Control Officials (AAFCO) and the National Research Council (NRC), it is crucial to include taurine in the diet of dogs and cats in a regulated amount assigned to them. Considering this, the rising prevalence of taurine is driving the growth of the market.
Leading manufacturers in the taurine industry are focusing on expanding production combined with strong capacity to meet the growing demand for taurine globally. Major market players are also looking to find alternative ways to produce taurine in a more environmentally friendly manner to eliminate the extraction of taurine from animals. According to IMF analysis, the global taurine market is expected to grow at a CAGR of 7.2% through 2031.
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Profiled Key Companies
- MTC Industries Inc.
- Stauber United States.
- Foodchem International Corporation
- Honjo Chemical Company
- 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.
End use application
- animal feed
- pet food
- Pet Supplements
- Food supplements
- Cosmetics and personal care
More information on the taurine market
According to IMF projections, China is expected to dominate the East Asian market by being the largest producer of taurine in the global market. Due to the country’s well-established infrastructure and a highly efficient workforce for large-scale production, taurine is expected to increase in sales and production in the future.
China and Japan are not only considered major producers of taurine but are also increasing their consumption of taurine significantly to produce finished products for sale in the global market. China alone was responsible for exporting over 80% of taurine production to other countries.
Europe is one of the main consumers of energy drinks in the world. It has been estimated that European consumers guzzle at least 2.1 liters of energy drink every month. As taurine is an important ingredient in an energy drink, it is therefore expected that the consumption of taurine will grow.
India also presents lucrative growth opportunities for infant formula. According to a World Bank study, the fertility rate in the country was slightly above 2.2 in 2018. Despite the declining birth rate, India remains highly populated. As a result, growing demand for infant and neonatal formula will remain the main driver of market growth in the country.
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1. Presentation of the market
1.1. Global Taurine Market – Research Scope
1.2. Global Taurine Market – Introduction
1.3. Global Taurine Market – Definition
2. Scenario evaluation of the impact of COVID-19 on the Taurine market
2.1. Scenario assessment of the impact of COVID-19 on the taurine market
2.2. Market scenario and way forward
2.3. Possible Economic Impact Scenarios
2.4. Impact on food sectors related to the taurine market
2.5. Health Food Sales Will Increase Amid COVID-19 Concerns, Beneficial for Taurine Market
2.6. China Taurine Market Value Scenario Forecast (USD Million), 2021 & 2031
2.7. Scenario Forecast of Taurine Market Value in United States (USD Million), 2021 & 2031
2.8. Eurozone Taurine Market Value (USD Million) Forecast Scenario, 2021 & 2031
2.9. Asia Taurine Market Value Scenario Forecast (USD Million), 2021 & 2031
2.10. Rest of the World Taurine Market Value Scenario Forecast (USD Million), 2021 & 2031
2.11. Current Scenario/Immediate Actions
2.12. Key Factors Impacting the Market
3. Key trends
4. Product Innovation / Development Trends
To continue the table of contents…
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