FMI estimates that the zinc methionine chelates market will be valued at USD 14.2 million in 2023, with projections indicating it will grow to USD 27.3 million by 2033, reflecting a CAGR of 6.7%. Zinc is a vital micronutrient necessary for plant growth and development, and zinc methionine chelates can provide a readily absorbable source of zinc for plants. This enhances nutrient uptake, leading to improved yields.
As farmers strive to optimize crop production and combat soil nutrient deficiencies, zinc methionine chelates offer a practical solution in agriculture. Their higher bioavailability makes chelated minerals, like zinc methionine chelate, increasingly favored across various industries. Effective nutrient absorption is essential for both human and animal nutrition, ensuring optimal nutrient delivery.
In recent years, there has been a growing consumer interest in health and wellness, leading to increased demand for products that promote longevity and vitality. Zinc methionine chelates can enhance a range of health and wellness products, including sports nutrition supplements, anti-aging formulations, and remedies for specific health issues related to zinc deficiency. Additionally, zinc methionine chelate is widely utilized in livestock and poultry farming across various regions.
The European Union has introduced several legislative measures regarding the renewal of authorization for zinc methionine sulfate chelate. This compound is approved as a feed additive for all animal species within the EU. Following an evaluation, the European Food Safety Agency (EFSA) will classify it as a nutritional additive.
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
Key players in the zinc methionine chelate market are actively engaged in research and development to enhance product quality and reduce final costs. An emerging trend is the increasing preference among feed manufacturers for natural and organic products, which is expected to drive growth in the zinc methionine chelates market.
Leading manufacturers are also focusing on innovative product launches, developing animal feed solutions with enhanced nutritional and health benefits. Prominent zinc methionine chelate brands are stimulating demand through unique applications in food and dietary supplement products.
Recent Developments in the Zinc Methionine Chelates Market:
- In June 2023, Novus International Inc. announced an initiative to offer farmers worldwide smarter solutions for their agriculture. As part of the new strategic direction, the company will focus its efforts on solving problems for animal producers, including chelating organic minerals, enzymes, and amino acids. Embracing advanced technologies and global scientific research, the firm has demonstrated its commitment to delivering solutions.
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
Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com
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