Chelated Minerals Market to Reach US$ 7.38 Bn by 2031; Awareness of Health and Nutritional Benefits Propel Popularity: Notes TMR Study

ALBANY, N.Y., Jan. 10, 2022 /PRNewswire/ -- Manufacturers in the chelated minerals market are continuously expanding their customer base on the back of the growing awareness about their nutritional and dietary benefits. They have been extensively utilized in manufacturing various dietary supplements for both human consumption and animal feed. Several companies are conducting extensive R&D to develop new feed formulations for ruminants, swine, poultry, and aquaculture.

The global chelated minerals market is projected to advance at CAGR of 7.5% during the forecast period of 2021- 2031. The growing preference of chelated minerals over inorganic minerals can be ascribed to the former's better bioavailability.

Strides in the nutraceuticals industry have spurred awareness of these in promoting health and preventing disease. Other lucrative applications are agriculture, cosmeceutical, and animal feed. The widespread use of chelated minerals in the agriculture sector has led the application segment to hold a sizable market share in 2020, finds a TMR study on the chelated minerals market.

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Key Findings of Chelated Minerals Market Study

• Rising Utilization of Chelates in Animal Nutrition to Drive Sales Revenue: The focus of the livestock industry on biological availability of key minerals in animal nutrition is driving the popularity of chelate minerals in animal feed. Chelated minerals are being publicized for improving the absorption and retention of trace minerals in ruminants. The growing use of chelates in aquaculture feed is also propelling sales in the chelated minerals market.
• Intake of Immunity-promoting Supplements Amid COVID-19 Pandemic Propelling Sales: After the outbreak COVID-19 pandemic, there has been a remarkable renewal of demand for immunity-promoting vitamins and minerals. This has imparted a steady impetus to the expansion of the chelated minerals market. Manufacturers are keenly spending on R&D for unveiling new formulations to meet the requirements of dietary supplements. 
• Growing Awareness about Products Among Population on Vegan Diet: A growing number of people on vegan diets are becoming increasingly aware of the role of chelated minerals for meeting the needs of minerals, especially for vitamin B12, iron, zinc, and calcium. This has extended the sales avenue, concur analysts in a TMR study on the chelated minerals market.
• Manufacturers Lean on Bolstering Distribution Channels to Reap Revenue Gains: Companies in the feed and dietary supplements industry are leaning on strengthening the distribution channels to target new geographies and meet the rising demand for mineral supplements. Furthermore, players in the market have benefitted from the growing shelf space of these products in drugs and pharmaceutical stores.

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Chelated Minerals Market: Key Drivers

• Growing trend of health and wellness has generated considerable interest in chelated minerals. Of note, the growing inclination toward veganism of the global population has invigorated the need for mineral supplementation, which has favored the revenue prospects of the chelated minerals market.
• Extensive studies in the nutraceuticals industry have focused on evaluating the effect of chelating minerals on animal nutrition, notably on how they boost the bioavailability of mineral elements. This has expanded the avenue for products in the chelated minerals market. Moreover, the growing proclivity of nutritional supplements with clean labelling has extended the horizon for chelated mineral manufacturers.

Chelated Minerals Market: Regional Growth Dynamics

• The Asia Pacific chelated minerals market is anticipated to expand at higher growth rate than other regional markets during the forecast period. Extensive R&D on novel chelated mineral formulations for use in animal feed application is propelling lucrative opportunities.
• South Asia and East Asia have emerged as lucrative markets. The revenue opportunities are fueled by the rise in demand for dietary supplements and nutraceuticals, notably in the agriculture industry.

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Key Players

Some of the key players in the chelated minerals market are:

• Phoenix Nutrition
• Archer Daniel Midland Company
• Koninklijke DSM N.V.
• Novus International, Inc.
• Nutreco
• BASF SE
• Kemin Industries, Inc.
• Alltech
• Cargill, Inc.
• Glanbia PLC
• Balchem Inc.
• Zinpro Corp.

Chelated Minerals Market Segmentation

Chelated Minerals Market by Type

• Zinc
• Iron
• Cobalt
• Chromium
• Copper
• Others (Selenium and Iodine)

Chelated Minerals Market by Chelate Type

• Amino acids Complexes
• Proteinates
• Polysacharide Complexes
• Chelates (Organic Molecules that Generally Consist of 2 Organic Parts with an Essential Trace Mineral)

Chelated Minerals Market by Application

• Animal Feed
• Ruminants
• Swine
• Poultry
• Aquaculture
• Others (Equine and Pets)
• Nutraceuticals & Dietary Supplements
• Agriculture
• Cosmeceutical
• Others

Chelated Minerals Market by Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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