As per Global Market Insights, Inc., forecast, global choline chloride market size is slated to cross over US$675 million by 2026. Given below are some notable factors augmenting the compound demand across various industries.
Growing demand for safe, natural, and healthy nutritious supplements primarily in the pharmaceutical and animal feed sectors is expected to drive choline chloride industry trends. Choline chloride is an organic compound that is naturally present in some foods and widely available as nutritional supplements.
It is used in healthcare products to treat cough, cold, and flu. The Federation of American Societies for Experimental Biology has recognized choline chloride as safe to be used as nutrients in dietary supplements. Increasing expenditure on dietary supplements in developing as well as developed countries owing to the rising health concerns amid the surge in COVID-19 infections could positively influence industry trends.
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Increasing applications in nutritional supplements
The choline chloride industry share from human nutrition application is expected to cross over US$18 million by 2026. The constant demand for nutritious ingredients in the manufacture of supplements should increase the application of the product. Easily digestible and metabolism-boosting characteristics of choline chloride increase its application in the manufacture of nutritious supplements.
The regular consumption of the choline chloride supplement provides a cumulative effect on health and does not trigger any side effects such as rashes and ache. Owing to the rising popularity of choline chloride supplement, the industry players are increasingly investing in novel product development to gain upper hand in the competitive market landscape.
High adoption in cosmetics and rinse-off products
The market share from personal care application segment is predicted to witness a CAGR of 7.5% up to 2026. This growth trend is majorly attributed to the constantly rising demand for cosmetics and healthy soaps & shower gels. In cosmetics, the compound is used as a humectant. Whereas, in rinse-off products, it is widely used as an ingredient.
Growing awareness about aesthetic appearance especially among women and increasing expenditure on personal care products is expected to have a positive impact on choline chloride industry share from personal care applications.
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Strong potential in animal feed industry
The 50% choline chloride industry is anticipated to grow at 5.5% CAGR in the forthcoming years. Escalating demand for highly nutritious and easily digestible additives in the manufacture of animal food products should accelerate the consumption in the animal feed industry.
The compound is an important additive used in animal food products to accelerate the growth of dogs, cats, and aquarium fishes. Growing trend of pet ownership and animal husbandry should positively impact the segment growth.
Global choline chloride industry is significantly fragmented and the key players include Kemin Industries, Sigma Aldrich, Balchem, Eastman Chemicals, GWH International and BASF SE. Companies are primarily engaged in long-term contracts with suppliers and the development of innovative proprietary technologies to offer high-quality products and achieve competitive advantage.
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