The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 7.9%
Chelated minerals have gained tremendous popularity due to increasing health risks during the coronavirus outbreak. The increasing demand for dietary supplements of cheated minerals to boost immunity and improve digestion by improving the absorption process in the body is helping market players establish and grow their businesses. The increasing awareness about health, nutrition, and dietary supplements required for our body to work efficiently further augment the global chelated minerals market. With the increasing trend and popularity of vegan diet or veganism across the globe, there is a rising demand for dietary supplements to fulfill the minerals demand of the body, thereby propelling the global market. Another reason for the growth of the chelated minerals market is health consciousness and increasing spending on health supplements due to their proven health benefits.
Industry Definition and Major Segments
Chelated minerals are created by mixing minerals with amino acids to improve absorption and bioavailability. Chelated minerals may be utilised to support normal growth, stabilise bipolar illness, build strong muscles and bones, and improve immune system function and overall health, according to research. Chelated minerals are sometimes marketed as superior to other mineral supplements as dietary supplements.
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By type, the market is segmented into:
• Zinc Chelated Minerals
• Iron Chelated Minerals
• Calcium Chelated Minerals
• Chromium Chelated Minerals
• Copper Chelated Minerals
Based on chelating agent, the market is divided into:
• Amino Acids
• Polysaccharide Complex
The significant applications of the market are:
• Animal Feed
• Nutraceuticals and Dietary Supplements
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Increasing consumption of packaged food, smoking habits, disturbed sleep cycle, and rising cases of nutritional deficiencies among consumers across the globe are driving the global chelated minerals market. Consumers’ shifting lifestyles are fuelling the growth of organic and nutritional products. This is propelling the market growth of chelated minerals. Chelated minerals can also be widely used in animal nutrition like poultry, ruminant, and aquaculture, among others.
Increased demand for safe and hygienic animal food and restrictions on antibiotics is further driving the growth of the market for animal nutrition, which is expected to accelerate the demand for chelated minerals. Additionally, the increase in the number of offline distribution channels, such as drugs and pharmaceutical stores, advancements in e-commerce, and rapidly expanding online distribution channels are augmenting the sales of chelated minerals, leading to the growth of the market.
Key Market Players
The major players in the market are UNO Vetchem, Chaitanya Biologicals Pvt. Ltd, BASF SE, Titan Biotech, and Balchem Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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