Market Trends of Nucleotides Industry
This section covers the major market trends shaping the Nucleotides Market according to our research experts:
The Food and Animal Feed Additives Segment is Expected to Dominate the Market
- Nucleotides are vital in terms of nutritional and physiological functions. Inosine monophosphate (IMP) and guanosine monophosphate (GMP) are palatability enhancers in food. It helps nucleotides to enhance palatability for feed.
- Also, nucleotides affect the recovery of intestinal epithelial cells, which helps boost immunity. Tissue cells involved in immunity cannot self-synthesize nucleotides. Thus, immunity is strengthened by dietary nucleotides.
- The rising incidences of animal diseases require maintaining adequate metabolism rates in livestock. Consumer awareness also grew in this segment, increasing the demand for animal feed.
- According to the International Feed Industry Federation, global compound feed production reached 1 billion tons annually. Global commercial feed manufacturing generates an estimated annual turnover of over USD 400 billion.
- The UN Food and Agricultural Organisation (FAO) estimates that the world will have to produce 60% more food by 2050, and it is believed that animal protein production will grow even more - meats (poultry/swine/beef) will double, and dairy and fish production will almost get tripled by 2050.
- Hence, based on the aspects above, the food and animal feed additives segment is expected to dominate the market during the forecast period.
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China is Expected to Dominate the Asia-Pacific Market
- China is the second-largest market for pharmaceuticals globally. The pharmaceutical market is rapidly emerging due to the country's growing middle-class and aging population, rising incomes, and increasing urbanization.
- The pharmaceutical sales of the country reached up to USD 175 billion by the end of 2022. It is expected to boost the market's growth regarding its usage in the pharmaceutical industry.
- India's domestic pharmaceutical market stood at USD 42 billion in 2021 and is likely to reach USD 65 billion by 2024 and further expand to USD 120-130 billion by 2030. Moreover, Indian drug & pharmaceutical exports stood at USD 24.60 billion in FY22 and USD 24.44 billion in FY21. Indian drug & pharmaceutical exports stood at USD 2,196.32 million in September 2022.
- The Chinese government promulgated Healthy China 2030, a blueprint outlining its ongoing intent to prioritize health as a precondition for sustained social and economic development. The growing research in pharmaceuticals in the country is also expected to augment the demand for nucleotides during the forecast period.
- Additionally, due to the COVID-19 pandemic, the country's demand for and production of pharmaceuticals increased. The world needs pharmaceuticals from China due to the impact caused by the COVID-19 pandemic.
- China's livestock industry expanded rapidly in recent years as diets shifted toward more animal proteins. Currently, China is the world's largest producer of livestock products and the largest animal feed manufacturer.
- Hence, based on the aspects above, China is expected to dominate the Asia-Pacific market during the forecast period.
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