Albany, NY -- (ReleaseWire) -- 07/10/2014 -- Transparency Market Research has released a new market report titled "5-Hydroxytryptophan (5-HTP) Market for Food and Beverage, Dietary Supplements, Medical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019." According to the report, the 5-HTP market was valued at USD 31.7 million in 2012 and is anticipated to reach USD 51.4 million by 2019, increasing at a CAGR of 7.1% from 2013 to 2019. In terms of volume demand for 5-HTP stood at 136.4 tons in 2012.
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5-Hydroxytryptophan (5-HTP) is a precursor to neurotransmitter serotonin and an intermediate of tryptophan metabolism. 5-HTP is an essential amino acid produced by the brain that regulates serotonin level in the body. Global demand for 5-HTP is primarily driven by the rapidly changing lifestyle of various population groups across the world. Increased stress level due to improper diet and hormone fluctuations have led to higher consumption of anti-depressant medications. Furthermore, being a plant extract, 5-HTP offers several advantages over tryptophan, a synthetically derived anti-depressant available in the market. These factors are expected to remain the major driving force for the 5-HTP market. Complication involved in the supply and price of raw material, i.e. seeds of Griffonia Simplicifolia, is likely to be the key challenge for market participants.
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5-HTP used for dietary supplement applications was the predominant application segment, accounting for over 40% of the total demand in 2012. Demand for 5-HTP used for dietary supplements is estimated to rise significantly in the next few years due to increasing consumption of 5-HTP to maintain serotonin level in the brain. 5-HTP is widely consumed in the form of dietary supplements across the globe. It has a positive effect on pain sensation, anxiety, sleep and reduced appetite.
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North America accounted for about 48.0% of the total 5-HTP market in 2012, followed by Europe and Asia Pacific. Asia Pacific is expected to be the one of the fastest growing regional markets in terms of consumption and production of 5-HTP. The region is characterized by the presence of numerous small and medium sized 5-HTP producers. Changing lifestyle is also anticipated to be a major factor for higher demand for 5-HTP. This has encouraged various manufacturers to focus on capacity expansion in Asia Pacific. Europe is the other major region with higher consumption of 5-HTP. In terms of volume, demand for 5-HTP in Europe is expected to increase at a CAGR of about 6.8% from 2013 to 2019.
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