LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Amino Acids Market - Procurement Intelligence Report.
The spend growth of the amino acids market is expected to touch a value of over USD 8 billion through 2023. According to observations, this growth will be attributed to the increasing demand for feed grade amino acids that are used in poultry food and pet food. The global consumption preference for poultry meat and eggs will result in an increase in poultry farming which, in turn, will continue creating demand in the amino acids market.
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However, it is observed that the amino acids price trends tend to be dynamic across regions and factors typical of those regions will drive the price trends. According to the amino acids spend analysis provided in this report, buyer’s lack of insights into these price driving factors will increase the threat of excess procurement spend incurred by the buyers.
Some Insights into the Amino Acids Price Trends
- Fluctuation in raw material prices, especially soybean and corn, will propel supplier’s manufacturing costs. This will have an inflationary impact on the procurement price in the amino acids market.
- To tackle such recurring manufacturing costs, suppliers are expected to invest more in their inventory holdings associated with the raw materials. This will majorly contribute to the supplier’s storage costs which, as indicated by the amino acids price trends, will increase the procurement price.
How Amino Acids Spend Analysis Insights Can Help Buyers to Tackle Procurement Price Rise?
“Amino acids spend analysis insights offered in this report will aid buyers to identify areas where they need to optimize their procurement spend. This will foster cost-savings in the long run in the amino acids market,” says SpendEdge procurement expert Tridib Bora.
Cost-benefit analysis of various market growth-promoting factors forms the podium of every procurement strategy. Stay a step ahead by requesting complimentary access to our procurement platform.
Transportation costs will trigger an inflating expenditure borne by suppliers which will compel them to increase the price of the product. To tackle this, buyers must engage with local suppliers that will reduce the distance required to traversed for delivery. With the increasing fuel prices, such a reduction in distance will foster further cost-savings for buyers in the amino acids market.
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