FMI estimates that zinc methionine chelates market is expected to be worth USD 14.2 million in 2023. Between 2023 and 2033, the market is expected to reach USD 27.3 million, representing a 6.7% CAGR. Zinc is one of the essential micronutrients that plants need to grow and develop. A zinc methionine chelate may serve as a source of zinc for plants. As a result, they are able to absorb nutrients more effectively and increase yields through enhanced nutrient uptake.
With farmers seeking to optimize crop production and address nutrient deficiencies in soil, zinc methionine chelates may be able to serve as a viable solution in the agricultural sector. Due to their higher bioavailability, chelated minerals, such as zinc methionine chelate, are preferred in many industries. Absorption of nutrients is therefore crucial to both human and animal nutrition, ensuring the effective delivery of nutrients.
Gain Strategic Insights into Industry Trends of Zinc Methionine Chelates Market Request Your Sample Report
Over the past few years, consumers have become increasingly interested in health and wellness, driving the demand for products that promote longevity and vitality. A variety of health and wellness products could benefit from zinc methionine chelates. These products include sports nutrition supplements, anti-aging supplements, and products that address specific health conditions associated with zinc deficiency. In livestock and poultry farming, zinc methionine chelate is widely used in several regions around the world.
The European Union regarding the renewal of the authorization to use zinc chelate of methionine sulfate has published several legislative measures. Zinc chelate of methionine sulfate is approved as a feed additive for all animal species in the European Union. The European Food Safety Agency (EFSA) will classify it as a nutritional additive after an evaluation.
Key Takeaways from the Market Study
- Zinc methionine chelates are expected to reach US$ 26.4 million by 2032.
- Zinc methionine chelates accounted for 29.9% market share in 2022.
- A CAGR of 2.5% was observed between 2018 and 2022 for zinc methionine chelates demand.
- Zinc methionine chelates registered an 8% CAGR in 2022 in the United Kingdom.
- Powder form markets saw a growth rate of 68.9% value share in 2022.
- Globally, Japan accounted for 6.2% of the market by the end of 2022.
- Zinc methionine chelates made up 5.6% of the global market in 2022.
- The food and beverage application segment held a value share of 31.8% by 2022.
Competitive Landscape
A growing number of companies are collaborating with other companies and forming strategic partnerships in order to grow their zinc methionine chelates businesses.
The majority of the zinc methionine chelates market players are investing heavily in research and development, developing new products, expanding their geographical reach, and forming strategic partnerships.
- In January 2023, Alltech Crop Science acquired Agri-food research and development pioneer Ideagro. In addition to better biological services, Alltech Crop Science is accelerating soil and crop research by combining two industry-leading platforms.
Key Companies Profiles
Zinpro Corporation; Balchem Inc.; Novus International; Titan Biotech Ltd.; American Elements; JH Biotech Inc.; Global Animal Products, Inc.; Uno Vetchem; Chengdu Chelation Biology Technology Co.; Alltech; Brihans Laboratories Pvt.Ltd; Others
Gain Exclusive Access to Growth Strategies in Zinc Methionine Chelates Market Grab Your Essential Report
Zinc Methionine Chelates Market by Category
By Form:
- Powder
- Liquid
- Granules
- Others
By Application:
- Food and Beverages
- Pharmaceuticals and Dietary Supplements
- Animal Feed Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube