Zinc Methionine Chelates Market Research Report: Information by Livestock (Bovine, Poultry, Swine, Aqua, and Others)and Region (North America, Asia-Pacific, Europe, and the Rest of the World)—Forecast till 2030

Zinc Methionine Chelates  Market Overview:

Zinc methionine chelates market size is projected to reach approximately USD 38.89 Billion by 2030, at a CAGR of 6.95%. Zinc methionine is a nutritional feed ingredient for animals that contains organic zinc in chelated form. Zinc is an essential and common trace mineral in the animal body and is found in every cell. Zinc in animal diet plays an important role in immunity, reproduction, skin and hoof integrity, muscle development, milk production, and eggshell quality. Zinc methionine chelates are produced by combining zinc with a mixture of amino acids and peptides to improve absorption in animal diets. Zinc deficiency in the animal diet leads to numerous complications such as reduced conception rates; increased retained placentas; hoof problems such as strawberry heel, laminitis, and heel cracks; low-quality milk due to high somatic cell count; and slow wound healing.

The high importance of animal nutrition and rising livestock farming owing to the growing demand for animal-based products has directly boosted the demand for zinc methionine chelates across the globe. Moreover, chelated minerals offer better absorption and overall utilization than inorganic minerals and have further surged the sales of zinc methionine chelates worldwide in 2020. Zinc methionine chelates are constantly creating traction among livestock farmers as it increases the overall performance of the animal as well as a natural alternative over the use of synthetic feed supplements. Zinc deficiency among animals has become highly common due to the lack of adequate nutrition in animal feed, which has boosted the demand for zinc methionine chelates worldwide.

COVID-19 Impact Analysis

The outbreak of COVID-19 has resulted in lockdown across regions, border restrictions, and breakdown of transportation networks. Due to the COVID-19 outbreak, the economic uncertainty is much higher than the past outbreaks, such as the serve acute respiratory syndrome (SARS), avian flu, swine flu, bird flu, and Ebola, owing to the escalating number of infected people and the uncertainty about the end of the crisis. The COVID-19 pandemic has impacted the zinc methionine chelates supply chain, as many countries are under lockdown and have sealed their borders to curb the spread of the virus. Strict containment measures imposed by governments of various countries and preventive measures to control the impact of the outbreak have led to a significant restriction in transportation, driving a knock-on effect globally. This has profoundly affected the movement of raw materials, hampering the production of zinc methionine chelates. The lockdown in various countries across the globe also affects the production capacity of the feed supplement manufacturing companies. The manufacturers are facing production issues as they have either shut down production to ease employee concerns or are running production under-staffed. The procurement of ingredients has also become a cause of concern for the manufacturers. As the government of various countries issued stay-at-home orders, many farmers resorted to panic buying of feed supplements and additives in anticipation of future shortages. This move spiked the demand of the market as well. In addition, concerns such as truck shortages, reduced deliveries, and employees contracting COVID-19 compelled the farmers to stock necessary supplies for feeding the livestock. This panic purchase has impacted the prices of the product.

Market Dynamics

The global zinc methionine chelates market has witnessed high growth in recent years. Zinc methionine chelates are used as additives in swine feed or included in dietary supplement formulation to ensure proper growth and improve reproductive health in animals.

Drivers:

• Expanding Livestock Industry

Changes in consumer lifestyle and rapid increase in population size across the globe have boosted the consumption of meat, resulting in a rise in the growth of the livestock population. According to the food & agriculture organization of the united nation, livestock contributes nearly 40 percent of the total agricultural output in developed countries and 20 percent in developing countries. High inclination towards animal-based protein and changing consumer preferences support the rise in milk, eggs, and meat consumption.The rise in demand for meat and dairy products has witnessed a rise in the growth of the livestock industry. Rising health consciousness and an increase in per capita disposable income are the supporting factors driving the growth of the industry.The feed supplement industry has witnessed significant growth in the past few years. Developing countries such as Brazil, Argentina, India, South Africa, and Nigeria have witnessed a rise in the commercialization of livestock farming, increasing the demand for commercialized feed. To balance the demand and supply cycle of meat products, there has been an increase in the industrial production of livestock and a strong emphasis on livestock health. With the growing livestock industry, the demand for animal feed and feed ingredients and additives, such as zinc methionine chelates, is expected to rise.

• Increasing Consumption of Meat & Meat Products

Increasing awareness regarding nutritional deficiencies and nutritional requirements supports the growth of feed additives, fueling the demand for zinc methionine chelates.The rise in consumption of meat products and meat has propelled the manufacturers to source disease-free and superior quality raw materials,resulting in arise in the consumption of zinc methionine chelates among the consumers. According to the Australian Government, Department of Agriculture Water and Environment, global meat consumption has witnessed a rise in growth of 58% over the 20 years to 2018 to reach 360 million tonnes. In the past 20 years to 2018, developing countries accounted for around 85% rise in global meat consumption.

Restraint:

• High Cost Associated with Product Manufacturing:

As compared to the inorganic minerals, mineral chelates are comparatively overpriced. The high cost associated with the chelation technology, raw materials, and distribution is likely to hamper the growth of the global zinc methionine chelates market during the forecast period.  The raw material used for the manufacturing of zinc chelates includes methionine and zinc.  The price of the raw materials is gradually increasing due to augmented demand from other end-use industries, including pharmaceuticals, nutraceuticals, and cosmetics, which will affect the pricing of zinc chelates. 

Opportunities:

• Increase Demand for Natural Products:

In recent years, there has been an increase in the demand for natural and organic food products by consumers across the globe. As per the Organic Trade Association, organic food accounted for more than 5% of the total food sales in the US in 2017, which was 6.4% higher than the sales in 2016. With the increasing demand for organic food products, the demand for organic meat, eggs, and dairy has also grown. However, as per the current scenario, there is a gap between supply and demand, with limited organic livestock farming. This has led to the demand for organic livestock feed, thereby creating opportunities for zinc methionine chelate manufacturers to offer natural feed supplements.

• Growing Aquaculture Industry:

The demand for aquatic protein has increased over the last few years owing to population growth, urbanization, and increasing purchasing power. Based on the growing demand for seafood and fishes over the last 30 years, and with stable catches from capture fisheries, it is likely that the aquaculture segment will drive the growth of the fisheries industry. Many key players in the global zinc methionine chelate market have begun catering to the aquaculture industry. China is a significant market for aquaculture, currently accounting for 89% of the global aqua species production.

Segment Overview

By Livestock

Based onlivestock, the global zinc methionine chelates market has been divided into bovine, poultry, swine, aqua, and others.The swine segment accounted for the largest market share in 2019.The increased swine farming has increased the demand, thus producing swine feed supplements across the globe.The swine segment dominated the global market in 2020 as the demand for pork is growing in Europe and Asia-Pacific, resulting in increased pig farming across the globe. China is one of the largest consumers of pork; thus, pig farming in the country is widespread. It is also one of the major swine-feed supplements producing countries in the world. The demand for swine farming has also increased in the US due to an increase in international trade. The increased swine farming has increased the demand, thus producing swine feed supplements across the globe.

Global Zinc Methionine Chelates Market Share, by Region, 2020 (%)

Sources: MRFR Analysis

Regional Analysis

By region, the global zinc methionine chelates market has been divided into North America, Europe, Asia-Pacific, and the rest of the world.  Asia-Pacific accounted for the largest market share of the global zinc methionine chelates market. Europe accounted for the second-largest market share of the global zinc methionine chelates market. The market in Europe is expected to register the highest CAGR during the forecast period.

• Asia-Pacific Market:

Asia-Pacific dominated the zinc methionine chelates market. The high population in China and India and the growing demand for animal-based products have created an opportunistic market for the existing players. Increasing concerns among consumers about animal health and the benefits of zinc in animal dietsaredriving the growth of the market in the region.

• Europe Market:

Europe is the second-largest market for the global zinc methionine chelates in 2020 as there is a high preference for natural feed supplements in the region. Increasing livestock farming in the region and its suburbs owing to increasing demand for meat and dairy products hasled to the importance of proper animal health. These factors are anticipated to directly boost the zinc methionine chelates market in Europe during the forecast period. Germany, the UK, France, Spain, Italy, Rest of Europe rank among the top countries, which is expected to boost the global zinc methionine chelates market during the forecast period.

Competitive Landscape

The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as Zinpro Corporation, Novus International, Titan Biotech Ltd., and JH Biotech Inc.dominate the global market due to brand reputation, product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.

Prominent players in the global zinc methionine chelates market include Zinpro Corporation (US), Novus International (Thailand), UNO Vetchem (India), Titan Biotech Ltd. (India), JH Biotech Inc. (US), Brihans Laboratories Pvt. Ltd. (India), Chengdu Chelation Biology Technology Co., Ltd. (China), American Elements (US), Sellwell(Group) (China) and Balchem Inc. (US).

Scope of the Report

Global Zinc Methionine Chelates market, by Livestock

• Bovine


• Poultry


• Swine


• Aqua


• Others

Global Zinc Methionine Chelates Market, by Region

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • UK
  
  
  • France
  
  
  • Spain
  
  
  • Italy
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Intended Audience

• Zinc Methionine Chelates Manufacturers


• Raw Material Suppliers


• Retailers, Wholesalers, and Distributors


• Governments, Associations, and Industrial Bodies


• Investors and Trade Experts