(MENAFN- GlobeNewsWire - Nasdaq) Newark, NJ, Aug. 12, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global zinc methionine chelates market is expected to grow from USD 13.40 million in 2020 to USD 20.33 million by 2028, at a CAGR of 5.35 % during the forecast period 2021-2028
Certain factors are boosting the growth of the global zinc methionine chelates market. Some of them include the increasing prevalence of animal-related diseases, such as foot-and-mouth disease (FMD) & bird flu, raising awareness among the masses regarding the nutritional deficiencies in animals. Further, zinc methionine chelate-enriched animal feed aids in producing disease-free and premium-quality meat products suitable for human consumption. Moreover, increasing preference for organic & natural feed products among feed manufacturers is an evolving trend and is further anticipated to drive zinc methionine chelates. Zinc methionine chelates help in protein synthesis & play an essential role in enhancing the properties of defense enzymes. So, the zinc deficiency in animals may lead to loss of appetite, poor growth and low reproduction rate. Further, the rising adoption of chelated minerals as a dietary supplement for domesticated animals, typically in urban areas, contributing to the market's growth.
The most common metal complexes are zinc methionine which is produced by combining zinc sulfate with amino acid methionine. Zinc methionine chelates are zinc-based nutritional feed supplements commonly added to animal feed in small quantities. Processing trace minerals make zinc methionine chelates with organic molecules such as amino acids and polysaccharides for easy absorption. They aid in improving fertility, immunity, eggshell quality, hoof and skin integrity, muscle and milk production development in animals. Thus, they are used in minute quantities, their significance on animals' overall health & productivity cannot be undermined. Also, they are used to optimizing the metabolic functions and immune systems in animals.
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The global zinc methionine chelates market is expected to witness significant growth due to the rising consumer awareness regarding the nutritional requirements & deficiencies in animals is anticipated to increase the consumption of feed additives. This, in turn, is predicted to drive the demand for zinc methionine chelates. Further, various product innovations like the launch of natural and organic feed products favor the market's growth. Also, the significant growth in the agriculture industry with extensive R & D activities is anticipated to drive the market further. The factors restraining the market growth are the high price of raw materials, side effects and lack of awareness of zinc methionine chelates. The acceptance of chelated minerals as a dietary supplement will create lucrative opportunities for market growth.
Key players operating in the zinc methionine chelates market include UNO Vetchem, Titan Biotech Ltd, JH Biotech Inc., Alltech, NOVUS International, Chaitanya Biologicals Private Limited, Chengdu Chelation Biology Technology Co., Ltd, Priya Chemicals, Zinpro Corporation, and Balchem Inc. To gain a significant market share in the global zinc methionine chelates market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The swine segment dominated the market and held the largest market share of 21.16% in 2020
Based on application, the global zinc methionine chelates market is segmented into pets, swine, aqua, bovine, equine, and poultry. The swine segment dominated the market and held the largest market share of 21.16% in 2020. This growth is attributed to the growing consumption of pork meat, which has compelled manufacturers to produce high-quality, disease-free meat products for human consumption.
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Regional Segment Analysis of the Zinc Methionine Chelates Market
- North America (U.S, Canada, Mexico)
- Europe (Germany, France, U.K, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- Latin America (Brazil, Argentina)
- The Middle East and Africa (South Africa, UAE, Saudi Arabia and the Rest of MEA)
Based on geography, the zinc methionine chelates market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America held the largest market share of 31.05% in the year 2020. This growth is attributed to rising healthcare awareness coupled with cloud-based technologies acceptance and constant research & development initiatives. On the other hand, the Asia Pacific region is witnessing significant growth due to the high demand from the livestock sector. Further, increasing meat & meat product consumption in the region is one of the primary drivers of the animal feed industry; consequently, the demand for chelated minerals is boosting. Moreover, increasing awareness about the advantages of protein intake in daily diet has increased meat consumption in the region by driving the market for animal feed & organic trace minerals in the region.
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About the report:
The global zinc methionine chelates market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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