The global 5-Hydroxytryptophan market is expected to grow owing to increasing stress levels in individuals on account of hormonal changes and improper diet resulting in a decrease in serotonin levels over the forecast period. Increasing anti-depressants demand due to the growing prevalence of anxiety, induced loss of appetite, and pain sensation is anticipated to propel 5-hydroxytryptophan market demand over the next six years. Irregular supply and fluctuating raw material prices are expected to act as a restraint on market growth. In addition, stringent government regulations and a lack of awareness among end-users are anticipated to pose a challenge for 5-hydroxytryptophan market participants. Furthermore, existing side effects of 5-HTP including stomach pain, heartburn, nausea, diarrhea, vomiting, muscle problems, and drowsiness is estimated to hinder the market growth. The increasing use of eco-friendly 5-HTP as a substitute for chemically synthesized tryptophan is expected to fuel market growth over the forecast period. In addition, R&D in genetic components is expected to cater to market growth opportunities.
North America was the largest consumer of 5-HTP over the past five years followed by Europe and Asia Pacific. Asia Pacific is expected to witness high growth in terms of consumption and production of 5-HTP owing to the emergence of numerous small and medium-sized manufacturers over the forecast period. Furthermore, changing lifestyles have led to huge capacity expansions in Asia Pacific. Technological advancements in emerging economies such as India and China have potential growth opportunities; although unfavorable drug regulations and lack of awareness could pose challenges to the market demand. Increasing applications in pharmaceuticals, food & beverage, and dietary supplements are estimated to augment market growth over the next six years. Dietary supplements are expected to witness swift growth owing to the increasing demand for artificial body nutrients. Increasing consumption of 5-HTP for treatment of insomnia, anxiety, depression, fibromyalgia, migraine, binge-eating associated with obesity, attention deficit-hyperactivity disorder (ADHD), premenstrual syndrome (PMS), premenstrual dysphoric disorder (PMDD), Parkinson's disease and seizure disorder is anticipated to have a positive impact on the market share.
Key players in the 5-hydroxytryptophan market include Flynn Pharma Ltd., Fidia Farmeceutici Spa, Linnea SA, Aspen Pharma, Chemill Inc, Takeda Pharmaceuticals International GmbH, Cactus Botanics, SanHerb Biotech Co. Ltd., and Jiaherb Inc.
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Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.