According to a new report published by K D Market Insights, titled, “Demand for Taurine Market Insights, Trends, Opportunity & Forecast, 2020–2025,” the global taurine market size is anticipated to witness moderate growth during the forecast period i.e. 2020–2025. The rising diverse applications of taurine in food and beverage, skin care, hair care and other industries due to a wide variety of health benefits offered by it, the growing awareness regarding health & skin among people and the burgeoning prevalence of taurine deficiency due to ageing or underlying ailments are the primary factors driving the growth of the global taurine market.
Additionally, factors such as the escalating demand of taurine for body building and fitness, the increasing R&D by companies and the growing development of products containing taurine as an ingredient and are further expected to create ample growth opportunities for the global taurine market during the forecast period.
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The North American region accounted for the largest share in the taurine market in 2020. It is estimated to further continue its domination in the market during the forecast period of 2020–2025. This can be attributed to the increasing importance of health, the rising purchasing power and the expanding cosmetic industry in the region. The Asia-Pacific region on the other hand is expected to expand at the highest CAGR during the forecast period. This is because the region is the largest manufacturer and exporter of food and beverages in the world.
According to application, the beverage segment is anticipated to account for significant share of the global taurine market by the end of the forecast period i.e. 2020–2025. This can be attributed to the proliferating utilization of taurine by major industry players as a key ingredient in their products.
The global taurine market is segmented into product type, application and region. Based on product type, the market is bifurcated into food grade and pharmaceutical grade. Based on application, it is classified into health care products, pet food, beverage and other.
The global taurine market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Taurine Market
- On the basis of application, the beverage segment is anticipated to account for significant share of the global taurine market by the end of the forecast period i.e. 2020–2025.
- On the basis of region, North America accounted for the largest share in the taurine market in 2020. It is estimated to further continue its domination in the market during the forecast period of 2020–2025.
- On the basis of region, Asia-Pacific is expected to expand at the highest CAGR during the forecast period.
Some of the major taurine companies profiled in the report include Taisho Pharmaceutical, Honjo Chemical, Yongan Pharmaceutical, Grand Pharma, Fangming Pharmaceutical, Tycoon Company Limited, Hangzhou FST Pharmaceutical Co. Ltd, Jiangyin Huachang Food Additive Co. Ltd, Jiangsu Yuanyang Pharmaceutical Co. Ltd. and Shayang Tianyi Medicine Industry Co. Ltd.
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