The global zinc citrate market is predicted to experience brisk growth over the next seven years owing to an increase in demand from the various end-use industries. Citric acid is a major raw material used in zinc citrate production and is obtained from bio-based and easily available resources such as limes and lemons, thereby reducing the overall costs. This is predicted to boost the global market over the next seven years. Zinc citrate is used in various pharmaceutical drugs that are used for the treatment of diseases such as canker sores, common cold, skin injuries, sore throat, zits, tinnitus, rheumatoid, fibromyalgia, respiratory disorders, arthritis, and lupus. The growing pharmaceutical industry and healing properties of zinc citrate are anticipated to help the overall market growth over the next seven years.
Zinc citrate is added in toothpaste and mouthwashes to reduce dental bacterial infections. Rise in disposable income in emerging regions and changing consumer preference for healthier lifestyle & products are estimated to boost the global zinc citrate market. The food & beverage industry is slated to have a high growth rate over the next seven years. Zinc citrate is used in food products to reduce the bacterial content and act as a preservative. This is projected to enhance the global market. Zinc citrate is added into various products such as deodorants, soap & bath products, hair care products, skincare products, and oral care products. It acts as an anti-bacterial agent in these products. Growing consumer awareness for a healthier lifestyle and personal care sector is anticipated to witness substantial growth over the forecast period. This is further slated to augment the global market over the next seven years.
Zinc citrate is added into various liquids for the preservation process and prevention from bacterial infection. Regulatory agencies such as the Environmental Protection Agency (EPA) have implemented numerous regulations supporting zinc citrate, thereby aiding the global market growth. Substitution risk from other cheaper zinc products such as zinc gluconate is predicted to hamper the global market growth over the forecast period. Hazardous factors such as the upset stomach, nausea, appetite loss, and vomiting from zinc citrate usage may emerge as a major hindrance to the overall market growth. R&D initiatives to develop novel applications promise ample opportunities for market participants. High technological knowledge owing to the advanced nature of the industry is expected to boost the global market growth. Chief industry participants have invested heavily in development initiatives for superior and cheaper products to gain sustainability.
Asia Pacific was the most dominant regional market over the last few years. Increasing population and rise in disposable income among consumers is anticipated to have a direct positive impact on the overall regional market. Countries such as China, India, Indonesia, Malaysia, Vietnam, Malaysia, South Korea, and Japan have dominated the regional zinc citrate market. North America and Europe have witnessed considerable growth over the past few years due to growth in the pharmaceutical industry in the region. Countries such as the U.S., UK, Germany, France, and Italy have dominated their respective regional markets. Middle East and Africa are expected to witness extensive growth in the near future. Central & South America is also anticipated to observe rapid growth over the next seven years.
Prominent industry participants include KIC Chemicals Inc., Noah Technologies Corporation, Continental Chemicals USA, Advanced Compounds International, Kronox Lab Sciences Pvt. Ltd., and Jost Chemical Co. Owing to numerous regional industry participants the global market is said to be highly fragmented. The global industry is described by a high amount of competition and participants who compete by cost and quality differentiation. Few major industry participants have entered into strategic alliances and joint ventures to increase profitability.
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The ongoing pandemic and consequent protocols that have been purposed to address public health and safety concerns have led to a rise in demand for disinfectant chemicals. Companies across the globe are ramping up their production to facilitate the sudden spike in demand from healthcare organizations, food retail, municipal departments and households alike. The report will account for Covid19 as a key market contributor.