Selbyville, Delaware, Feb. 01, 2022 (GLOBE NEWSWIRE) -- As per a recently published report by Global Market Insights Inc., the global Choline Chloride Market was estimated at USD 480 million in 2020 and is anticipated to exceed $725 million over 2027, registering with a CAGR of 6.5% from 2021 to 2027. This analysis offers a comprehensive and holistic study of the market size and estimations, opportunities and drivers, current market trends, top wining strategies, and competitive landscape.
The surge in demand for choline chloride can be attributed to a strategic growth of animal farming business worldwide as a result of the growing population and rising concerns associated with the meat quality. In addition, the increasing prevalence of livestock diseases would further strengthen the overall choline chloride market share in the coming years.
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Based on applications, choline chloride market share from the human nutrition applications segment would expand considerably through 2027. The application segment would reach $20 million by the end of 2027 ascribing to the product’s extensive use in making high-quality solutions due to its metabolism-boosting and easily digestible properties. Other than human nutrition, choline chloride boasts of expansive applications in oil and gas, pharmaceutical, animal feed, and other industries.
Key drivers for choline chloride market growth:
- Increasing use of choline chloride powder for production of pharmaceutical products.
- Surging demand for 60% grade choline chloride in manufacturing of animal feed products.
- Expanding pharmaceutical, oil and gas, and human nutrition industry across North America.
2027 estimates foresee 70% grade segment to dominate the market landscape:
On the basis of product, 70% grade segment would reach a valuation of $230 million by 2027 end. Growth in the segment can be credited to the elevating use of the product in the food and beverage industry given the benefits of the compound in enhanced diets.
Liquid choline chloride segment to hold a remunerative position:
In terms of the form type, liquid choline chloride segment would account for $440 million, in revenue, over the forecast period, driven by the product’s increasing usage in personal care applications such as in shampoos, soaps, body wash, and cleansers.
Europe to retain top position in terms of growth:
Geographically, Europe choline chloride market would grow at a rate of 6.5% through 2027 subject to the expanding personal care industry in the continent.
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Leading market players:
Choline chloride industry is consolidated and marks the presence of players including BASF SE, Sigma Aldrich, Kemin Industries, Balchem, SDA Products, Jublient Life Sciences, Eastman Chemicals, Algry Quimicia Sl.
COVID-19 pandemic analysis on choline chloride market forecast
The coronavirus pandemic has driven attention towards preventive individual health and wellbeing, propelling the market growth curve in process. Increasing consumer spending on pharmaceutical products during the infection spread offered positive growth prospects for the overall industry. However, unavailability of raw materials and disruptions in supply chain posed challenged. Nevertheless, ease in lockdown norms and recovering industrial segments has expected to support the choline chloride market expansion.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
