The global choline chloride market is slated to witness high growth owing to burgeoning animal feed market over the forecast period. The animal feed industry has experienced high growth over the last few years and is expected to continue this trend in the near future. Choline chloride is used as a feed additive for accelerating animal growth. The poultry industry has seen significant growth in the recent past. Choline chloride is a critical additive for poultry feed. Rise in disposable income along with increasing living standards especially in the emerging regions is slated to boost global meat consumption, thereby assisting the global market over the next seven years. The oil and gas industry is an important end-use industry where choline chloride is used as a clay stabilizer. Clay stabilizers are used during several oilfield operations such as hydraulic fracturing and drilling operations. Rapidly increasing hydrocarbon exploration and production activities are expected to further complement the market.
Choline chloride, also known as vitamin B4, is used in medications used preventing perosis by maturation and healing bone cartilages. Growth in the pharmaceutical industry is touted to further complement the global choline chloride market. Health concerns related to choline chloride usages such as excessive sweating, diarrhea, vomiting, body odor, and gastrointestinal distress are expected to hinder the overall market over the forecast period. High raw material costs are slated to hamper global market development in the near future. Prominent industry contributors have invested profoundly in R&D projects to develop superior quality and cost-effective choline chloride products with diminished toxic impacts. Growing usage in the oil and gas industry promises ample growth opportunities for the market. R&D initiatives to iron out the harmful choline chloride effects offer ample opportunities for the industry participants.
Asia Pacific has surfaced as the foremost market for choline chloride utilization in the recent past. This can be accredited to the ever-increasing demand from the poultry, egg, and meat industry. China has dominated the regional market on account of extremely high demand from the poultry industry. However, China’s growth is dependent on raw material such as choline cation and chloride anion. Countries such as India, Vietnam, Korea, Thailand, Malaysia, and Indonesia are expected to witness rapid growth due to growing demand from the end-use industries over the next seven years. North America has narrowly followed Asia Pacific with regards to applications in the meat and poultry industry. The U.S. dominated the regional market on account of its high meat demand. Europe is touted to witness rapid growth over the next seven years owing to rise in demand from the healthcare and processed meat industry. Countries such as The Netherlands, Italy, France, the U.K., and Germany are estimated to lead the regional market. Middle East & Africa is predicted to observe rapid growth over the forecast period due to increasing demand from healthcare, animal feed, and chemicals industry. Central & South American market is expected to experience rapid market growth over the forecast period owing to robust demand from the end-use industries such as animal feed and oil & gas industry. Chile, Argentina, Brazil, and Panama are slated to govern the regional market growth.
Overall choline chloride market is characterized by companies taking ardent steps to enter less penetrated markets such as the oil & gas industry. Industry participants are taking strategic initiatives such as forging partnerships to gain an added advantage in the low penetrated application segments such as the oil & gas industry. Balchem Corporation has emerged as the strongest market participant owing to extremely high production capacity. Prominent industry participants include Algry Quimica SI, Kemin Industries Inc., Balchem Corporation, NB Group Co. Ltd., Taminco Corporation, Be-Long Corporation, Jubilant Life Sciences Ltd., A & C Co. Inc., Balaji Amines Ltd., Pestell Minerals & Ingredients, BASF SE, and Havay Chemicals.
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Weaker consumer demand for lifestyle and wellbeing products due to social restrictions and lockdown policies shall have a negative impact on the demand patterns of cosmetic ingredients and certain categories of food additives. However, easing restrictions and public discourse about restarting economic activities in the consumer goods marketspace indicates that, the recovery of demand is imminent. The report will account for Covid19 as a key market contributor.