Zinc Methionine Chelates Market To Reach $19.3 Billion By 2027

Zinc Methionine Chelates Market Growth & Trends

The global zinc methionine chelates market size is projected to reach USD 19.3 billion by 2027, expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. 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 amino acids 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.

Asia Pacific witnessed the highest demand for chelated minerals in animal feed in 2019 owing to high demand from the livestock sector. Increasing meat and meat product consumption in the region is one of the major drivers of the animal feed industry, consequently boosting demand for chelated minerals. Growing awareness about the advantages of protein intake in daily diet has resulted in increased consumption of meat in the region, thereby driving the market for animal feed and organic trace minerals in the region.

Key players operating in the industry have a long-term presence and possess a substantial share in the market. A lot of emphases is given on consumer needs and requirements related to product development, which has now led mineral chelate manufacturers to fabricate custom products to accommodate consumer needs.

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Zinc Methionine Chelates Market Report Highlights

• In terms of revenue, the swine segment dominated the market in 2019 across the globe

• Asia Pacific emerged as the prominent regional segment with a market share of more than 34.0% in terms of revenue in 2019

• In the Asia Pacific, countries particularly India and China are likely to witness a remarkable market growth over the forecast period

• Growing awareness towards animal health and augmented demand for high-quality meat products is expected to drive the zinc methionine chelates consumption in animal feed applications.

Zinc Methionine Chelates Market Segmentation

Grand View Research has segmented the global zinc methionine chelates market on the basis of livestock and region:

Zinc Methionine Chelates Livestock Outlook (Revenue, USD Thousand, 2016 - 2027)

• Bovine

• Poultry

• Swine

• Equine

• Aqua

• Pets

Zinc Methionine Chelates Regional Outlook (Revenue, USD Thousand, 2016 - 2027)

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Spain

  • The U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Vietnam

  • Indonesia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players of Zinc Methionine Chelates Market

• Zinpro Corporation

• NOVUS INTERNATIONAL

• UNO VETCHEM

• Titan Biotech Ltd.

• JH Biotech Inc.

• Balchem Inc.

• Chengdu Chelation Biology Technology Co., Ltd.