Amino Acids

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

• Study Reliability And Reporting Limitations I-1
• Disclaimers I-2
• Data Interpretation & Reporting Level I-2
• Quantitative Techniques & Analytics I-3
• Product Definitions And Scope Of Study I-3
• Glutamic Acid I-4
• Lysine I-4
• Methionine I-4
• Phenylalanine I-5
• Other Amino Acids I-5
• Histidine I-5
• Isoleucine I-5
• Leucine I-6
• Valine I-6
• Threonine I-6
• Tryptophan I-6
• Alanine I-6
• Arginine I-7
• Asparagine I-7
• Aspartic Acid I-7
• L-Cysteine I-8
• Glutamine I-8
• Glycine I-8
• Proline I-9
• Serine I-9
• Tyrosine I-9

II. EXECUTIVE SUMMARY

1. Industry Overview II-1

• Market Overview II-1
• Amino Acids - A Historical Perspective II-2
• Market Drivers II-2
• Demand to Grow for Amino Acids Driven by Rise in End-Use Applications II-2
• Aging World Population Drives the Demand for Amino Acid Supplements II-2
• Development of New Uses and Newer Types of Amino Acids II-2
• Major Trends & Issues II-2
• Branched Chain Amino Acids (BCAAs) Gaining Grounds II-2
• Lysine and Methionine Rules the Roost as Feed Additive in Animal Feed II-3
• Asia-Pacific - Largest Region for Amino Acids Production & Consumption II-3
• Animal Feed Additives - Major Application Sector for Amino Acids II-3
• Improving Food Quality through Amino Acid Additives II-3
• Synthesis Applications - One of the Major Application Areas of Amino Acids II-3
• Amino Acids Foray into Skin Care Formulations II-4
• Amino Acid-Based Health Foods Gaining Prominence in Asia II-4
• Low Consumer Awareness Plagues Amino Acids Market II-4
• Significance of Research Activities in Amino Acids Market II-4
• Market Analysis by Select Product Segments II-4
• Lysine II-4
• Table 1: Worldwide Lysine Production and Production Capacity (1998 & 2003) II-5
• Table 2: Worldwide Lysine Market for 2003: Leading Companies by Production and Production Capacity for Ajinomoto Co., Ltd., ADM, CJ Corp, and BASF (includes corresponding Graph/Chart) II-5
• Methionine II-6
• Feed-Grade Methionine Market II-6
• Tryptophan II-6
• Global Amino Acids Market: Proposed Plants, and Production Capacities of Select Companies by Amino Acid Type II-7
• Global Amino Acids (Fermentation) Market II-8

2. Product Overview II-9

• Amino Acids - A Conceptual Definition II-9
• General Structure of Amino Acid II-9
• D and L Optical Isomers of Amino Acids II-9
• Key Functions of Amino Acids II-10
• What do Amino Acids Do? II-10
• Amino Acids as Supplements II-10
• Factors Influencing Quality & Value of Amino Acid as a Nutritional Supplement II-11
• Amino Acids Production Processes II-11
• Fermentation Method II-11
• Enzymatic Method II-12
• Extraction Method II-12
• Types of Amino Acids II-12
• Standard & Non-Standard Amino Acids II-12
• Standard Amino Acids II-12
• Non-Standard Amino Acids II-12
• Special Amino Acids II-12
• Hydorphilic & Hydrophobic Amino Acids II-13
• Essential and Non-Essential Amino Acids II-13
• Essential Amino Acids II-13
• Histidine II-13
• Isoleucine II-13
• Leucine II-14
• Valine II-14
• Lysine II-14
• Methionine II-15
• Threonine II-16
• Tryptophan II-16
• Phenylalanine II-16
• Non-Essential Amino Acids II-17
• Alanine II-17
• Arginine II-17
• Asparagine II-18
• Aspartic Acid II-19
• L-Cysteine II-19
• Glutamic Acid II-20
• Glutamine II-20
• Glycine II-21
• Proline II-21
• Serine II-21
• Tyrosine II-22
• Chemical Formula and Genetic Codon of Amino Acids by Type II-23
• Major Functions and Food Source of Amino Acids by Type II-24
• Amino Acids by End-Use Application II-25
• Amino Acids in Animal Feed II-25
• Types of Feed Additives II-25
• Nutritional Additives II-26
• Sensory Additives II-26
• Technological Additives II-26
• Zootechnical Additives II-26
• Coccidiostats & Histomonostats II-26
• Use of Select Amino Acids in Animal Feed Market II-26
• Methionine II-26
• Lysine II-26
• Taurine II-27
• Glycine II-27
• Table 3: Global Nutritional Feed Additives Market for 2004: Percentage Breakdown by Type for Amino Acids, Vitamins and Others (includes corresponding Graph/Chart) II-27
• Amino Acids in Food Additives II-27
• Direct & Indirect Food Additives II-27
• Functions of Food Additives II-28
• Artificial Sweeteners II-28
• Regulations Governing Food Additives II-28
• Amino Acids in Cosmetics II-29
• Amino Acids in Cosmetics/Personal Care Industry - European Perspective II-29
• Nutraceuticals II-29
• Factors Contributing to the Growing Demand for Nutraceuticals II-30
• Categories of Nutraceuticals II-30
• Specialty Uses of Amino Acids II-30
• Developments Related to Amino Acids as Major Ingredient (Year 2005) II-31
• B&P Unveils Skin Treatment Products II-31
• Amino Vital® Unveils Puredge II-31
• United Brands Introduces Diesel Energy Drink II-31
• Natural Precepts and 7-Eleven Introduces Functional Beverage II-31
• Celliance Unveils LucraTone Peptones II-31

3. Product Introductions/Research Activity II-32

• Sigma Launches HIS-Select iLAP Column II-32
• Michigan Researchers Invents Amino Acids II-32
• Israeli Scientists Develop Coupling Process for Amino Acids II-32
• Indian and US Innovators Develop Synthesizing Methods of Amino Acids II-32
• Switzerland Approves Twinsweet II-32
• Japanese Innovators Develop Synthesizing Method for Amino Acids II-33
• Brazilian Researchers Confirm Fat Loss with Leucine Consumption II-33
• Kyowa Re-Introduces Remake Ornithine II-33
• Ajinomoto Invents Health Check Method II-33
• Combined Amino Acids Improve Quality of Sleep, Alleviate Stress II-33
• GE Introduces Spin Columns II-33
• Kyowa Hakko Develops New Technology for Producing Amino Acid Dimers II-34

4. Recent Industry Activity II-35

• Kyowa Hakko Starts New Facility in China II-35
• Ajinomoto Group Enhances Stake in US Market II-35
• HSC Exits Aspartame Business II-35
• Renessen Receives Regulatory Clearance II-35
• Degussa and Cathay Lineng Form JV Deal II-35
• CJ Corp. Signs a Deal with Kyowa Hakko Kogyo Co. II-36
• Albert David Signs a Deal with Ajinomoto II-36
• Degussa Starts New Threonine Facility II-36
• Ajinomoto to Enhance Production Capacity II-36
• Arkema and Novus Build a New Facility II-36
• Ajinomoto Starts New Unit II-36
• CJ Corp to Build Lysine Facility in Brazil II-37
• Ajinomoto Plans to Invest in New R & D Center II-37
• Government of Belarus to Invest in Amino Acid Plant II-37
• Ajinomoto to Invest in Central and South America II-37
• Degussa to Shut Belgian Methionine Facility II-37
• Helix BioMedix Gains US Patent II-37
• Degussa Takes Over Amino Acids Facility II-38
• Novus Acquires Wolfgang II-38
• Ajinomoto Starts Sales Company II-38
• Wuhan Starts Manufacturing Facility II-38
• Kyowa Hakko Enhances Stake in Shanghai Guan Sheng Yuan Kyowa II-38
• Degussa Invests in New Methionine Facility II-38
• Temporary Closure of Facility by BASF II-38

5. Focus on Select Key Players II-39

• Ajinomoto Group (Japan) II-39
• Archer Daniels Midland Company (USA) II-39
• BASF (Germany) II-39
• CJ Corporation (South Korea) II-39
• Daesang Corporation (South Korea) II-40
• Daiichi Pure Chemicals Co., Ltd. (Japan) II-40
• Degussa AG (Germany) II-40
• DSM (Holland Sweetener Company North America) (The Netherlands) II-40
• DSM Andeno BV (The Netherlands) II-40
• Kyowa Hakko Kogyo Co., Ltd. (Japan) II-41
• Novus International Inc. (USA) II-41
• Toronto Research Chemicals, Inc. (Canada) II-41

6. Global Market Perspective II-42

• Table 4: World Recent Past, Current & Future Analysis for Amino Acids by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-42
• Table 5: World Historic Review for Amino Acids by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-42
• Table 6: World 20-Year Perspective for Amino Acids by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-43
• Table 7: World Recent Past, Current & Future Analysis for Glutamic Acid by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-44
• Table 8: World Historic Review for Glutamic Acid by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-44
• Table 9: World 20-Year Perspective for Glutamic Acid by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-45
• Table 10: World Recent Past, Current & Future Analysis for Lysine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-46
• Table 11: World Historic Review for Lysine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-46
• Table 12: World 20-Year Perspective for Lysine by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-47
• Table 13: World Recent Past, Current & Future Analysis for Methionine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-48
• Table 14: World Historic Review for Methionine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-48
• Table 15: World 20-Year Perspective for Methionine by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-49
• Table 16: World Recent Past, Current & Future Analysis for Phenylalanine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-50
• Table 17: World Historic Review for Phenylalanine by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-50
• Table 18: World 20-Year Perspective for Phenylalanine by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-51
• Table 19: World Recent Past, Current & Future Analysis for Other Amino Acids by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-52
• Table 20: World Historic Review for Other Amino Acids by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-52
• Table 21: World 20-Year Perspective for Other Amino Acids by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America for the Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) II-53

III. MARKET

1. The United States III-1

• A. Market Analysis III-1
• Market Overview III-1
• Major Trends & Issues III-1
• Weight Loss Supplements Gain Significance in the US III-1
• Demand Growing for Corn Chemicals in the US III-1
• Growth in Food Additives Market Drives Up the Demand for Amino Acids III-2
• Market for Commercial Amino Acids Booming III-2
• Specialty Supplements Market Makes Inroad in the US III-2
• Table 22: Non-Herbal Specialty Supplements Market in the US in 2005: Percentage Breakdown by Type for Glucosamine & Chondroitin, COQ10, Amino Acids, Melatonin, Fish Oil/Omega Fatty Acid, Gelatin, Acidophilus, Flax Seed and Others* (includes corresponding Graph/Chart) III-2
• Strategic Corporate Developments III-3
• Key Players in the US III-3
• Archer Daniels Midland Company III-3
• Novus International Inc. III-4
• B. Market Analytics III-4
• Table 23: US Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-4
• Table 24: US Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-5
• Table 25: US 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-5

2. Canada III-6

• A. Market Analysis III-6
• Market Overview III-6
• Toronto Research Chemicals, Inc. - A Key Canadian Player III-6
• B. Market Analytics III-6
• Table 26: Canadian Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-6
• Table 27: Canadian Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-7
• Table 28: Canadian 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-7

3. Japan III-8

• A. Market Analysis III-8
• Market Overview III-8
• Use of Amino Acids in Foods & Beverages III-8
• Rising Popularity of Amino Acids-Based Sports Drinks III-8
• Amino Acids-Based Mineral Water Gains Momentum III-8
• Strategic Corporate Developments III-8
• Key Japanese Players III-9
• Ajinomoto Group III-9
• Daiichi Pure Chemicals Co., Ltd. III-9
• Kyowa Hakko Kogyo Co., Ltd. III-9
• B. Market Analytics III-10
• Table 29: Japanese Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-10
• Table 30: Japanese Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-11
• Table 31: Japanese 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-11

4. Europe III-12

• A. Market Analysis III-12
• Market Overview III-12
• European Lysine Market in Early 2000s III-12
• Major Trends & Issues III-12
• Technological Advancements & Focus on Health Foster Amino Acids Market in III-12
• Europe III-12
• European Companies Feel the Heat from Low-Cost Chinese Imports III-12
• Joint Ventures - Way Out for European Manufacturers III-13
• Amino Acid Dimers & Microencapsulation Technology to Drive Growth III-13
• Safety Concerns Deter Amino Acid Utilization in Food Ingredients III-13
• European End-Use Market for Amino Acids III-13
• Eastern & Central European Feed Additives Market III-13
• Table 32: Central & Eastern Europe Feed Additives Market (2004): Percentage Breakdown of Amino Acid Volume for Lysine, Methionine, Threonine, and Others (includes corresponding Graph/Chart) III-14
• Factors Driving Growth in Amino Acids Market III-14
• Factors Restraining Growth in Amino Acids Market III-14
• Strategic Corporate Development III-15
• Key European Players III-15
• DSM (Holland Sweetener Company North America) (The Netherlands) III-15
• DSM Andeno BV (The Netherlands) III-15
• B. Market Analytics III-16
• Table 33: European Recent Past, Current & Future Analysis for Amino Acids by Geographic Region - France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-16
• Table 34: European Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-16
• Table 35: European Historic Review for Amino Acids by Geographic Region - France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-17
• Table 36: European Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-17
• Table 37: European 20-Year Perspective for Amino Acids by Geographic Region - Percentage Breakdown of Dollar Sales for France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-18
• Table 38: European 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-18

4a. France III-19

• Market Analysis III-19
• Table 39: French Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-19
• Table 40: French Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-20
• Table 41: French 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-20

4b. Germany III-21

• A. Market Analysis III-21
• Market Overview III-21
• Key German Players III-21
• BASF III-21
• Degussa AG III-21
• B. Market Analytics III-22
• Table 42: German Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-22
• Table 43: German Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-22
• Table 44: German 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-23

4c. Italy III-24

• Market Analysis III-24
• Table 45: Italian Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-24
• Table 46: Italian Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-25
• Table 47: Italian 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-25

4d. The United Kingdom III-26

• A. Market Analysis III-26
• Market Overview III-26
• Tryptophan Supplements Market in the UK III-26
• B. Market Analytics III-27
• Table 48: UK Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-27
• Table 49: UK Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-27
• Table 50: UK 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-28

4e. Spain III-29

• Market Analysis III-29
• Table 51: Spanish Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-29
• Table 52: Spanish Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-30
• Table 53: Spanish 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-30

4f. Russia III-31

• A. Market Analysis III-31
• Market Overview III-31
• Ajinomoto Starts Sales Company in the Year 2004 III-31
• B. Market Analytics III-31
• Table 54: Russian Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-31
• Table 55: Russian Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-32
• Table 56: Russian 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-32

4g. Rest of Europe III-33

• Market Analysis III-33
• Table 57: Rest of Europe Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-33
• Table 58: Rest of Europe Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-34
• Table 59: Rest of Europe 20-Year Perspective for Amino Acids by Product Segment -Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-34

5. Asia-Pacific III-35

• A. Market Analysis III-35
• An Overview of Chinese Market III-35
• Chinese Amino Acids Market by Select Product Segments III-35
• Methionine Market III-35
• Factors Influencing Methionine Production III-35
• Methionine Manufacturers in China III-35
• Methionine End-Use Perspective III-36
• Lysine Market III-36
• Lysine Production in China III-36
• Table 60: Chinese Lysine Market (2003): Leading Companies by Production and Production Capacity for Changchun Dacheng, Chuanhua Ajinomoto, Daquan, Fengyuan, and Lujin (includes corresponding Graph/Chart) III-37
• L-Phenylalanine Market III-38
• Chinese Amino Acids Market by Select End-Use Segments III-38
• Feed Additives Market III-38
• Food Additives Market III-38
• Strategic Corporate Developments III-39
• Key Players in Asia-Pacific III-39
• CJ Corporation (South Korea) III-39
• Daesang Corporation (South Korea) III-40
• B. Market Analytics III-40
• Table 61: Asia-Pacific Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-40
• Table 62: Asia-Pacific Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-41
• Table 63: Asia-Pacific 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-41

6. Middle East III-42

• Market Analysis III-42
• Table 64: Middle East Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-42
• Table 65: Middle East Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-43
• Table 66: Middle East 20-Year Perspective for Amino Acids by Product Segment - Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-43

7. Latin America III-44

• Market Analysis III-44
• Table 67: Latin American Recent Past, Current & Future Analysis for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 2001 through 2010 (includes corresponding Graph/Chart) III-44
• Table 68: Latin American Historic Review for Amino Acids by Product Segment - Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids Independently Analyzed with Annual Sales in US$ Million for Years 1991 through 2000 (includes corresponding Graph/Chart) III-45
• Table 69: Latin American 20-Year Perspective for Amino Acids by Product Segment -Percentage Breakdown of Dollar Sales for Glutamic Acid, Lysine, Methionine, Phenylalanine and Other Amino Acids for Years 1991, 1996, 2006 & 2010 (includes corresponding Graph/Chart) III-45

IV. COMPETITION

• 1. AIE Pharmaceuticals, Inc. (USA) IV-1
• 2. AIMS Fime Chemical, Inc. (Canada) IV-2
• 3. Ajinomoto Co., Inc. (Japan) IV-4
• Table 70: Annual Sales Analysis: 2004-2006(In ¥ billion) IV-5
• Table 71: Annual Sales Analysis by Segment:2005-2006 (In ¥ billion) IV-5
• Table 72: Annual Sales Analysis by GeographicRegion: 2005-2006 (In ¥ billion) IV-6
• Table 73: Annual Sales Analysis by Segment:2004-2005 (In ¥ billion) IV-6
• Table 74: Annual Sales Analysis by GeographicRegion: 2004-2005 (In ¥ billion) IV-6
• Ajinomoto USA, Inc. (USA) IV-10
• Ajinomoto Interamericana Industria e ComercioLtda. (Brazil) IV-10
• Amino-Vital (USA) IV-11
• 4. Albion Advanced Nutrition (USA) IV-12
• 5. Amino GmbH (Germany) IV-13
• 6. Amit Biotech (India) IV-15
• 7. Anaspec, Inc. (USA) IV-17
• 8. Archer Daniels Midland Company (USA) IV-19
• Table 75: Annual Sales Analysis: 2004-2006(In US$ million) IV-20
• Table 76: Annual Sales Analysis by Quarter:2005-2006 (In US$ million) IV-21
• Table 77: Annual Sales Analysis by Quarter:2004-2005 (In US$ million) IV-21
• Table 78: Annual Sales Analysis by Segment:2004-2005 (In US$ million) IV-21
• Table 79: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-21
• 9. Arkema, Inc. (USA) IV-27
• 10. Bachem AG (Switzerland) IV-30
• Table 80: Half Yearly Sales Analysis:2005-2006 (H1) (In CHF million) IV-30
• Table 81: Annual Sales Analysis: 2004-2005(In CHF million) IV-31
• Table 82: Annual Sales Analysis by Segment:2004-2005 (In CHF million) IV-31
• Table 83: Annual Sales Analysis by GeographicRegion: 2004-2005 (In CHF million) IV-31
• 11. BASF Aktiengesellschaft (AG) (Germany) IV-35
• Table 84: First Quarter Sales Analysis:2005-2006 (In € billion) IV-40
• Table 85: Annual Sales Analysis: 2004-2005(In € billion) IV-40
• 12. China Greatvista Chemicals (China) IV-59
• 13. CJ Corporation (South Korea) IV-60
• 14. Daesang Corporation (Korea) IV-67
• 15. Daiichi Pure Chemicals Co., Ltd. (Japan) IV-68
• 16. Davisco Foods International, Inc. (USA) IV-69
• 17. Degussa AG (Germany) IV-72
• Table 86: Annual Sales Analysis: 2004-2005(In € million) IV-76
• Table 87: Annual Sales Analysis by Segment:2004-2005 (In € million) IV-76
• Degussa Cathay Biotechnology Co., Ltd. (China) IV-80
• 18. Devson Impex Pvt., Ltd. (India) IV-81
• 19. Divis Laboratories Ltd. (India) IV-83
• 20. DSM NV (The Netherlands) IV-84
• Table 88: Annual Sales Analysis: 2004-2005(In € million) IV-87
• Table 89: Annual Sales Analysis by Segment:2004-2005 (In € million) IV-87
• DSAM Andeno BV (The Netherlands) IV-91
• 21. Great Dragon Biochemicals Co., Ltd. (Hong Kong) IV-92
• 22. HBees.com LLC (USA) IV-92
• 23. Hexagon Group (India) IV-93
• 24. IBIS Chemie International (India) IV-95
• 25. Jo Mar Laboratories (USA) IV-100
• 26. K.A. Malle Pharmaceuticals Ltd. (India) IV-101
• 27. Kirkman Laboratories (USA) IV-102
• 28. Kyowa Hakko Kogyo Co., Ltd. (Japan) IV-104
• Table 90: Annual Sales Analysis: 2004-2006(In ¥ billion) IV-105
• Kyowa Hakko (USA) IV-106
• 29. LEO Chem (India) IV-107
• 30. Mahamaya Life Sciences (P) Ltd. (India) IV-114
• 31. Melford Laboratories Limited (UK) IV-115
• 32. Molchemie Overseas Operations (India) IV-116
• 33. Newsilk (USA) IV-117
• 34. Novus International, Inc. (USA) IV-118
• 35. Now Foods (USA) IV-120
• 36. Park Scientific Ltd. (UK) IV-134
• 37. Pat Vitamins, Inc. (USA) IV-135
• 38. Planetary Nutrition.Com LLC (USA) IV-136
• 39. Priya Chemicals (India) IV-136
• 40. Probiogh (USA) IV-137
• 41. Renessen LLC (USA) IV-137
• 42. Renuka Chemicals (India) IV-138
• 43. RSP Amino Acids LLC (USA) IV-138
• 44. Shanghai Guan Sheng Yuan Kyowa AminoAcid Company (China) IV-139
• 45. Sisco Research Laboratories Pvt., Ltd. (India) IV-139
• 46. Suzanne's Natural Foods (USA) IV-140
• 47. Toronto Research Chemicals, Inc. (Canada) IV-145
• 48. Universal Nutrition (USA) IV-146
• 49. Varsal, Inc. (USA) IV-151
• 50. Vaxa International (USA) IV-152
• 51. Vitabase.Com (USA) IV-153
• 52. Vitamin Research Products (USA) IV-154
• 53. Wuhan University Hoyo Co., Ltd. (China) IV-155