Core Insights - The Chinese special medical food market is expected to reach 23.42 billion yuan by 2027, supported by increasing government policy backing and improved regulations [1][4] - Amino acids, as a core raw material for special medical foods, are poised to benefit significantly from the growth of this market [1][4] Industry Overview - The amino acid industry is experiencing rapid growth due to rising global demand for nutrition and health, particularly in developed economies [1] - Amino acids are essential components of proteins and are widely used in feed, food, and pharmaceuticals [1] Market Dynamics - The supply of raw materials for amino acid production is abundant, with China being a major corn producer, projected to yield 291 million tons in 2024 [3] - The feed sector is the largest application area for amino acids, with China's feed production expected to reach 316 million tons in 2024, making it the largest feed producer globally [3] Regulatory Environment - Recent policy changes, including the 2023 revision of the Special Medical Food Registration Management Measures, have streamlined the approval process, reducing it to 18 months and allowing for expedited reviews [4] - The inclusion of special medical foods in health insurance coverage in various cities is expected to enhance market penetration [4] Company Spotlight - Wuxi Jinghai (920547.BJ) is highlighted as a "small giant" in the pharmaceutical amino acid industry, holding over 30% market share domestically and establishing partnerships with global companies like Nestlé and Fresenius Kabi [2] Future Trends - The demand for pharmaceutical-grade amino acids is anticipated to grow due to the increasing domestic production of cell culture media, which are essential for biopharmaceutical manufacturing [5] - The expansion of applications in cell therapy and gene therapy is expected to drive further growth in the cell culture media market, thereby increasing the demand for amino acids [5]
开源证券：氨基酸未来将充分受益国内特医食品蓝海市场发展