Taurine Market: Introduction
According to the report, the global taurine market was valued at US$ 0.2 Bn in 2020 and is projected to expand at a CAGR of 5.3% from 2021 to 2031. Leading manufacturers and exporters of food & beverage, substantial government support, and presence of several key players are anticipated to drive the market in Asia Pacific.
North America accounted for market share of 27.9% in 2020. The market in the region is expected to expand at a high CAGR from 2021 to 2031. Rise in importance of health, increase in disposable income, and competitive lifestyle are likely to fuel the demand for energy drinks and taurine-based supplements in North America.
The taurine market in Europe is projected to expand at a CAGR of 5.4% from 2021 to 2031. Increase in consumption of energy drinks & functional foods, rise in spending on pet food & animal feed, and surge in disposable incomes augment the market in Europe.
Advent of New Technology to Drive Global Market
The global taurine market has witnessed significant investments by multinational corporates over the past few years. These business conglomerates have invested in companies operating in the taurine.
Food Grade Segment Dominated Taurine Market
In terms of type, the global taurine market has been bifurcated into food grade and pharmaceutical grade. The food grade segment dominated the global taurine market in 2020 and the trend is anticipated to continue during the forecast period. Rise in demand for taurine-based food products such as beverages, animal feed, and food supplements is expected to drive the segment during the forecast period.
Beverage to be Key Application Segment
Based on application, the global taurine market has been classified into health care products, pet food, beverage, and others. The beverage segment dominated the global taurine market in 2020 and the trend is likely to continue during the forecast period.
Liquid-based Serum to be Promising Segment
In terms of form, the global taurine market has been divided into tablets/capsule, liquid-based serum, and others. The liquid-based serum segment held major share of the global taurine market in 2020.
Asia Pacific to Dominate Global Market
In terms of region, the global taurine market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is projected to account for a leading share of the global taurine market during the forecast period. The taurine market in Asia Pacific is anticipated to grow at a rapid pace over the next few years. India, China, and South Korea are expected to be lucrative markets in the near future.
Growth Strategies of Key Players
Key players operating in the global taurine market are Taisho Pharmaceutical Holdings Co., Ltd., Grand Pharmaceutical Group Limited, AWI-Awell Ingredients Co., Ltd., The Honjo Chemical Corporation, Qianjiang Yongan Pharmaceutical Co., Ltd., A. B. Enterprises, Atlantic Chemicals Trading GmbH, Kyowa Hakko Bio Co., Ltd., Jiangsu Yuanyang Pharmaceutical Co., Ltd., Hubei Grand Fuchi Pharmaceutical & Chemicals Co., Ltd., Advance Inorganics, Aakriti Trading Company, and Avanscure LifeSciences Pvt. Ltd.
Global Taurine Market: Segmentation
- Taurine Market, by Type
- Food Grade
- Pharmaceutical Grade
- Taurine Market, by Application
- Health Care Products
- Pet Food
- Taurine Market, by Form
- Liquid-based Serum
- Taurine Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
About Pharmaceutical Industry at Transparency Market Research
TMR’s business intelligence reports on the pharma sector is a lucid analysis to include the influence of double-digit growth of the healthcare sector. Experts engage in aspects of clinical research, novel scientific approach, and pipeline products to evaluate the vast scope of growth of the pharma sector. The anticipated heavy dependence on next-gen technologies from the start of clinical research for drugs to manufacturing and distribution is discussed extensively in our reports.
We drive your business forward. Get in touch to know more.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants, uses proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our Report to take the right decision.View Report