August 21, 2020
According to the research report titled ‘Choline Chloride Market Size By Grade , By Form, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global choline chloride market is estimated to generate substantial revenues during 2020-2026.
Increasing awareness pertaining to personal health and nutrition is a major factor driving the growth of global choline chloride market. Rapid expansion of animal husbandry sector owing to the rising cognizance regarding the effect of animal health on nutrition levels and yield is further aiding the market expansion.
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For those uninitiated, choline chloride is a rich source of B-vitamin choline, which is basically a naturally occurring compound found in animal and plant sources, especially in soybeans, wheat germ, fish, meats, eggs, and liver.
Choline chloride efficiently supports the communication between the nerve cells, which further aids in better metabolism and liver functions. Focus towards providing choline to livestock has compelled manufacturers to add the substance to their feed. Growing population and escalating disposable income have impelled the consumption rates of poultry products, which in turn is favoring the market outlook.
As per grade type, the report states that 60% segment is predicted to expand significantly during the forecast period, primarily driven by rising adoption of high quality ingredients. Meanwhile, 75% segment is also anticipated to witness appreciable growth in the subsequent years. Inclination towards adopting sustainable solutions along with growing demand from oil & gas sector are fueling the segmental share.
In terms of application spectrum, the others segment is reckoned to experience a CAGR of 5.5% through 2027, owing to growing demand for choline chloride from chemical industry.
Moving on to the regional analysis, choline chloride market in Latin America is expected to exceed USD 75 million by 2026. Increasing preference towards consuming red and white meat products are facilitating the business scenario in the region.
On the other hand, Middle East & Africa choline chloride industry is expected to grow with a CAGR of 5% between 2020 and 2026, primarily driven by increasing oil exploration activities.
Nuproxa Switzerland Ltd., GWH International, Pestell Minerals & Ingredients Inc., Balaji Amines Ltd., Algry Quimicia S.L., Eastman Chemicals Co., Balchem Corp., Jublient Life Sciences Ltd., BASF SE, SDA Products, Kemin Industries, and Sigma Aldrich are the major companies operating in choline chloride market.