The global Zinc Methionine Chelates market size is expected to be worth around US$ 19.2 billion by 2027, according to a new report by Vision Research Reports.
The global Zinc Methionine Chelates market size was valued at US$ 11.4 million in 2019 and is anticipated to grow at a CAGR of 6.6% during forecast period 2020 to 2027.
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Rapidly flourishing animal feed industry coupled with growing consumer awareness towards animal health and hygiene is anticipated to drive the market over the forecast period.
Zinc methionine chelates are generally used in minute quantities in animal feed. They are made by processing trace minerals with organic molecules such as polysaccharides and for easy absorption. The basic function of chelated minerals is to improve the quality of feed. Although they are used in minute quantities, their significance on the overall health and productivity of animals cannot be undermined. They are used to optimize the immune system and metabolic functions in animals.
The mineral chelates are comparatively over-priced than inorganic minerals due to the high cost associated with chelation technology, raw materials, and distribution. The major raw materials used for manufacturing chelated zinc minerals include methionine and zinc. The prices of these raw materials are gradually increasing due to augmented demand from other end-use industries including pharmaceutical, nutraceuticals, and cosmetics, which is ultimately affecting the prices of zinc chelates.
Poultry is expected to be the fastest-growing livestock segment in the coming years. Growing demand for animal protein sources has driven the market for poultry over the years. Chicken meat is widely consumed due to its low price as compared to others, low-fat content, and less religious and cultural barriers associated with its consumption. As a result, the consumption of feed additives such as zinc methionine chelates in poultry feed formulations has increased considerably.
Swine accounted for the largest revenue share of 45.0% in the livestock segment in 2019. Growing consumption of pork meat has compelled the manufacturers to produce high-quality, disease-free meat products for human consumption. This has given rise to the need for feed additives. Zinc methionine chelates are normally used as additives in swine feed or included in dietary supplement formulation in order to ensure proper growth and improve the reproductive health in animals. In addition, zinc chelates improve animal health and reduce the mortality rate in animals.
Asia Pacific accounted for a revenue share of over 33.0% in 2019 in the market for zinc methionine chelates. Increased consumer spending, growing consumption of animal products, and flourishing animal feed industry are expected to drive the market for zinc methionine chelates in the region. Increasing production and exports of feed additives in the region from key countries such as China and Japan are anticipated to contribute to market growth. Zinc methionine chelates are primarily used to enhance health, increase reproduction rate, and reduce the occurrence of several diseases in animals.
Growing consumption of meat and meat products in the region has generated a need to focus on animal health and hygiene, which, in turn, has given rise to the demand for feed additives. Thus, a rise in the demand for feed additives is likely to boost the growth of the market for zinc methionine chelates in the region.
- Zinpro Corporation
- NOVUS INTERNATIONAL
- UNO VETCHEM
- Titan Biotech Ltd.
- JH Biotech Inc.
- Balchem Inc.
- Chengdu Chelation Biology Technology Co., Ltd.
- Livestock Outlook
- Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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