SELBYVILLE, Delaware, June 22, 2020 /PRNewswire/ -- As per Global Market Insights Inc., the Choline Chloride Market is likely to surpass a valuation of nearly $675 million by 2026, registering a CAGR of 5.5% from 2020 to 2026. The report provides a detailed study of the overall market estimations & size, top winning strategies, wavering industry trends, key investment avenues, drivers & opportunities, and competitive scenario.
The demand for choline chloride is rapidly increasing across the world due to rapidly shifting inclination of market players towards high performance ingredients in order to capitalize on evolving trends in the market. Fast product penetration in pharmaceutical industry as well as rising demand for high-performance and easily absorbable medicines having no cumulative effect will further increase the choline chloride market share.
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In terms of grade, 50% choline chloride market will grow with a CAGR of over 5.5%. This growth is attributable to the growing demand for high performance as well as easily digestible additives in the animal feed industry.
Key reasons for choline chloride market growth:
- Increasing adoption in the oil & gas industry.
- Growing product demand across the Asia-Pacific.
- Increasing adoption across personal care applications.
2026 forecasts anticipate the 'human nutrition' application segment showing appreciative growth:
The human nutrition application segment will surpass $18 million over the projected time period due to a growing demand for high quality ingredients in manufacturing supplements. The product is extensively used in manufacturing top-quality solutions because of its easily digestible as well as metabolism properties. Consuming choline chloride on a daily basis promotes cumulative effect and habit, and also does not trigger ache and rashes. Market players are also investing in new product development to gain brand recognition in this competitive choline chloride market outlook.
Asia-Pacific & Europe choline chloride industry to witness appreciative growth:
Asia Pacific is likely to exceed $240 million by the end of the analysis period due to rising prevalence of pet adoption and increasing pet food expenditure. Choline chloride is used to produce food solutions which are appropriate for aquarium fishes, cats, and dogs. Quick acceptance by market players and growing marketing initiatives in competitive market will boost market share. Furthermore, choline chloride is flexible enough to be compatible with solid as well as liquid delivery forms, making it possible to design drop solutions. Increasing demand for top-quality pet food solutions will increase the choline chloride market share.
Europe will grow with a CAGR of over 5.5% through the analysis period. This growth is attributed to the rapid consumer shift towards cosmetic and personal care formulations with top-quality ingredients.
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Leading market players:
The key market players analyzed in the choline chloride industry report include SDA Products, Sigma Aldrich, BASF, Balchem, Kemin Industries, GWH International, and Nuproxa Switzerland. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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.
SOURCE Global Market Insights, Inc.