Agriculture Industry Analysis

The global zinc methionine chelates market is projected to record a CAGR of 6.82% during the forecast period due to expanding livestock industry

Jiayuan Chen, , , , ,

The global zinc methionine chelates market is projected to exhibit a CAGR of 6.82% during the forecast period of 2021 to 2028

the following companies as the key players in the global zinc methionine chelates market Zinpro Corporation (US), Novus International (Thailand), UNO Vetchem (India), Titan Biotech Ltd. (India), JH Biotech Inc. (US), Brihans Laboratories Pvt. Ltd. (India), Chengdu Chelation Biology Technology Co., Ltd. (China), American Elements (US), Sellwell (Group) (China) and Balchem Inc. (US)

Market Highlights

The global zinc methionine chelates market is projected to be valued at USD 22.41 million by 2028, recording a CAGR of 6.82% during the forecast period. Increasing consumption of meat & meat products & expanding livestock industry have cumulatively resulted in the market’s growth in the past few years. Growing consumer awareness regarding nutritional requirements and deficiencies in animals is expected to propel the growth of the global zinc methionine chelates market during the forecast period. Zinc is one of the major minerals used in animal feed. However, the availability of substitutes for zinc methionine chelates is likely to hamper the growth of the global zinc methionine chelates market during the forecast period. The growing aquaculture industry and increasing demand for natural products are expected to create profitable opportunities during the review period.

The outbreak of COVID-19 has resulted in a lockdown across regions, border restrictions, and breakdown of transportation networks. The essential goods, such as sanitizers, masks, and household essentials like toilet paper and bread, were stocked up by customers. Most of the customer’s budget was shifted to essential goods, and a major downfall in non-essential businesses was observed.The procurement of ingredients has also become a cause of concern for the manufacturers. As the government of various countries issued stay-at-home orders, many farmers resorted to panic buying feed supplements and additives in anticipation of future shortages. Manufacturers of zinc methionine chelates are facing production issues as they have either shut down the production to ease employee concerns or running production understaffed.

Segmental Analysis

The global zinc methionine chelates market has been segmented based on livestock.

By livestock, the market has been divided into bovine, poultry, swine, aqua, and others. The swine segment accounted for the largest market share in 2019. The increased swine farming has increased the demand, thus, the production of swine feed supplements across the globe.Zinc methionine chelates are used in dietary supplement formulations. They are used as additives in swine feed, which reduces the mortality rate and improvesreproductive health in animals. Manufacturers are forced to produce disease-free meat consumption for human consumption.

Regional Analysis

Geographically, the global zinc methionine chelates market has been categorized as North America, Europe, Asia-Pacific, Rest of the World. As per CRI analysis, Asia-Pacific constituted a dominant share of the zinc methionine chelates market in 2019. Increased production and export of feed additives in key countries in Asia-Pacific such as India and China, are anticipated to contribute to market growth during the forecast period. The launch of innovative formulas and effective marketing strategies are positively impacting the growth of the global zinc methionine chelates market during the forecast period. Also, the market in Europe offers lucrative opportunities for the manufacturers of zinc methionine chelates. The growing production of commercial feeds in Europe has increasedthe demand for zinc methionine chelates in Europe.North America is projected to grow at a significant rate during the forecast period.The growing compound feed industry in North America has increased the demand for feed additives and supplements in North America. Zinc methionine chelates are the zinc supplement that is easily absorbed by the body.

Key Findings of the Study:

    • The global zinc methionine chelates market is projected to register a growth rate of 6.82% from 2021 to 2028.
    • The swine segment is estimated to retain its prominent share till2028 whereas, the poultry segment is projected to recordthe highest CAGR of 5.84% during the forecast period.

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