Global Nucleotides Market to Surpass US$ 880.7 Mn by 2029
The global nucleotides market is projected to reach US$ 880.7 Mn by the end of 2029. The market was valued at US$ 501.1 Mn in 2019. If these figures hold true, the market will exhibit a CAGR of nearly 6% between 2019 and 2029. According to the report, North America is expected dominate the global market.
Besides this, Europe is expected to offer lucrative growth opportunities to the market. In terms of application, the market can be classified into pharmaceuticals, diagnostics research, food and beverages, animal additives and others. Of these, diagnostics research segment is forecast to lead the global market.
Key Factors Driving the Market
Increasing Application across Various End-use Industries to Boost Growth
The global nucleotide market is currently witnessing growth at an impressive pace. To an extent, this is attributable to the rising demand from diverse end users. For instance, the application of nucleotides has considerably increased in animal feed additives, food and beverages industry, pharmaceuticals, and research and diagnostics industry. In the coming years, the market is likely to witness a considerable rise in demand. With consumers realizing the negative effects of savoury ingredients, the sales of nucleotide-based flavour enhancer will rise. Furthermore, the rising scope of application in pharmaceuticals sector, particularly in Canada and the U.S., besides consistently rising demand from livestock industry, will spur growth prospects for the market.
North America Holds Leading Share
Regionally, the global nucleotides market covers North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and the Middle East and Africa. Among these regions North America currently holds dominance in the market. The region is expected to remain a lucrative market for nucleotide through the course of the forecast period. The rising demand for nutritional food products among consumers will support the growth of the marker in North America.
In addition to this, the market is expected to witness favourable growth opportunities in Europe. The presence of some of the leading manufacturers will aid the market’s expansion in the region
Rising Awareness among Consumers will Stoke Growth Opportunities
The rising awareness among consumers about the use of premixes in application of infant nutrition will drive the market. In addition to this, the market will benefit from their increasing disposable incomes and consequent willingness to spend on food products that offer better health benefits. Companies are nowadays operating in a dynamic business environment, steered by changing consumer taste and preferences.
It is therefore important that they keep track of ever evolving tastes and preferences of consumers to stay relevant in the market. Impelled by the rising demand for nutritional premixes, companies are focusing on the launch of products with innovative attributes. For instance, there are companies who brought gluten-free nucleotide premix to the market. Such strategies adopted by the players will bode well for the market.
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FREQUENTLY ASKED QUESTIONS ABOUT NUCLEOTIDE MARKET
What drives the nucleotide market?
Nucleotide market is forecast to exhibit a positive growth between 2019 and 2029. The rising demand for better nutritive qualities in flavour enhancer will drive the market. In addition to this, the market will gain from the increasing application in food and beverages industry.
Which technology based segment is at the fore of nucleotide market?
Among key technologies used in the market, the demand for TaqMan allelic discrimination is considerably high. The segment is forecast to lead the market through the forecast period.
Which region will lead the global sales of nucleotide?
North America is a leading market for nucleotide, representing the highest share in the global market. The region is forecast to remain dominant through forecast period, backed by steady sales of nucleotide.
Which application segment offers most lucrative growth opportunities?
In terms of application diagnostics research and food and beverage additives segment will exhibit high demand for nucleotide.
What are the most popular growth strategies adopted by key players in nucleotide market?
Leading companies in the market are focusing on product development and innovation to remain the top. Several new companies are launching products with better nutritive value to woo consumers.
The global Nucleotides market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- TaqMan allelic discrimination
- Gene chips & microarrays
- SNP by pyrosequencing
- Diagnostics research
- Food & beverage additive
- Animal feed additive
- North America
- Latin America
- East Asia
- South Asia