![]() Europe is projected to grow at a CAGR of 3.8% in taurine market during the forecast period.The market is expected to grow due to presence of leading manufacturers and exporters of food & beverages in this region. Asia-Pacific is expected to grow with a significant CAGR of 3.9% throughout the forecast period.Furthermore, the continued focus on preventing heart disease is also anticipated to influence American consumers to embrace healthier lifestyles. This shift in consumer behavior can be attributed to the increased pet adoption rates and heightened awareness among consumers regarding the significance of maintaining a healthy lifestyle and enhancing immunity. In 2023, the United States is expected to witness a substantial rise in dog and dietary supplement consumption.The market in this region is expected to grow with a CAGR of 3.6% throughout the forecast period. North America dominated the market in 2022 and is expected to retain this trend of dominance by accumulating a 41% market share in 2023.Get a Customized Solution to Meet Your Research Requirements: The market is expected to grow due to the numerous benefits of taurine, including its ability to prevent dehydration, maintain healthy blood pressure, and improve heart health. The rising demand for taurine in pet food is anticipated to propel market growth.The growing trend of energy drinks such as red bull and others across the globe is expected to drive the demand for taurine during the forecast period.Also, the beneficial effects of taurine in the food and pharmaceutical industries are further contributing to the global market demand for this product. The increasing awareness of the importance of healthy skin is driving the demand for taurine in the market, as it is known to help reduce the appearance of fine lines and wrinkles.Demand for taurine in China is projected to grow at a CAGR of 3.8% during the forecast period.By application, healthcare products segment is expected to lead the market while exhibiting a CAGR of 4.2% during the forecast period.By type, the food grade segment is expected to dominate the market in 2023 by growing at a CAGR of 4% during the forecast period.From 2023 to 2031, the market is expected to grow with a CAGR of 3.7 %.The global taurine market is expected to be worth US$ 223.39 million as of 2023.Identify Key Trends, Drivers, and Challenges in the Market, Which Will Help Vendors Improve their Strategies to Stay Ahead of their Competitors. This demand is expected to open up new avenues for market expansion in the foreseeable future. The market is poised for growth because of increased research and development activities and the introduction of new products.įurthermore, the market is most likely to experience substantial growth opportunities due to the robust demand from diverse end-use sectors, particularly healthcare. The market's growth is further expected to be driven by factors like the high consumption of taurine supplements by athletes and sportspeople and the growing awareness of the benefits of maintaining healthy skin. ![]() Additionally, macroeconomic factors such as growing aspirations for personal development, rising demand for cosmetics, and increasing health awareness contribute to the positive impact on the global market. The increasing demand for taurine in the bodybuilding and fitness industries is expected to drive market growth. ![]() A market valuation of USD 300 million is expected by the end of the forecast period. – The global taurine market is anticipated to grow at a 3.7% CAGR from 2023 to 2031. Wilmington, Delaware, United States, (GLOBE NEWSWIRE) - Transparency Market Research Inc. ![]()
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