Global taurine market report: short-term decline, long-term bullish

According to the global taurine market report released by market research company Market Study Report, the global taurine market size in 2019 was 235.4 million US dollars, with a growth rate of 6.93% from 2020 to 2026. It is expected that the market will exceed 333.3 million US dollars by 2026.

The new coronavirus epidemic has had a long-term impact on various industries including the Taurine market. The report believes that the Taurine market will show a negative growth of 4.2% in 2020, reaching US $ 225.6 million.

The taurine market can be divided into food grade and pharmaceutical grade products according to different types. Food grade taurine products have a minimum purity of 98.5% and are mainly used as Food Additives in the food and beverage industry. The purity of medicinal taurine products is not less than 99%, and the content of heavy metals is low, so it is widely used in medicine. It is estimated that food-grade taurine accounts for 94% of the market share in 2019, while pharmaceutical-grade taurine only accounts for 5%.

The taurine market is divided into Asia Pacific, Europe, North America, Middle East and Latin America by region. Research analysts estimate that the Asia-Pacific region will account for 34% of the overall business in 2019, and Europe will account for 23% in 2018. The report pointed out that the taurine industry in the Asia-Pacific region is mainly concentrated in China.