Updated on 10 March 2015
Amino acid market estimated to reach USD11.84 billion in 2020
Singapore: According to a report by Frost & Sullivan, Asia-Pacific market for Amino Acids and specialty protein ingredients market earned revenues of $7.90 billion in 2013 and is estimated to reach $11.84 billion in 2020.
"The Asia-Pacific region leads the surge in the global gross domestic product of the middle class population," said Dr Nandhini Rajagopal, materials and food industry analyst, Frost & Sullivan.
"Currently, the middle class account for 25 percent of Asia-Pacific's population and this is expected to grow to 55 percent by the end of 2020. The expanding cohort will result in higher prevalence of diseases such as obesity, cancer, diabetes, osteoporosis, and effectually widen the target market for supplements and fortified foods," Dr Rajagopal added.
In Asia-Pacific, nutritional supplements are often prescribed by healthcare givers for disease prevention; therefore, it is vital for ingredient manufacturers to prove the clinical benefit of each ingredient. Manufacturers will also have to validate their claims according to regional demographic requirements as each Asia-Pacific country has its own set of regulatory policies.
"Significantly, different requirements regarding product formulations will raise production costs. Identifying regions with similar regulatory policies to perform clinical trials simultaneously will go a long way in offsetting the diversity issue and reducing the total time and cost of approval," noted Dr Rajagopal.