Choline Chloride Market Size – USD 662.3 Million in 2018, Choline Chloride Market Growth – CAGR of 4.8%
NEW YORK CITY, NEW YORK, UNITED STATES, March 23, 2020 /EINPresswire.com/ — The Global Choline Chloride market is forecast to reach USD 1.02 Billion by 2027, according to a new report by Reports and Data. Choline chloride is a quaternary ammonium salt with chloride anion and choline cation. It has a chemical formulation of C5H14ClNO. In regards to its appearance it is white crystal. This organic compound comprises of a choline. Choline is included in vitamin-like substances, is considered to be essential in the formulation of essential bodily substances like adrenaline and creatine. In other metabolic reactions and fat conversion also, choline is essential. In the growth of animals, C5H14ClNO plays an integral growth.
The importance of choline in various functioning of the body and growth of animals have resulted in its extensive application in nutrition and pharmaceutical industry, which is fostering the growth of the market. Apart from the above mentioned factors, the growth in geriatric population is also supporting the growth of the industry. With rising geriatric population, there is an increasing demand for healthcare services for conditions like Alzheimer's disease, memory loss, Huntington's chorea and dementia among others.
In the treatment of the mentioned health conditions, Choline is used as its plays essential role in a number of chemical reactions in the body and nervous system, which in turn elevates the demand for the organic compound in the healthcare sector.
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In regards to region, North America can be seen to hold a considerable share of the sector. The market share held by the region is attributed to a well-established healthcare sector and growing poultry farming, which is supporting the growth of the sector in this region.
Further key findings from the report suggest
• The Choline Chloride market held a market share of USD 662.3 Million in the year 2018 that is forecasted to grow at a rate of 4.8% during the forecast period.
• In context to Grade, the Pharmaceutical Grade segment is projected to witness a significant growth rate of 5.4% during the forecast period, which is expected to hold 18.0% of the market by 2027. The growth rate witnessed by the Pharmaceutical Grade segment is attributed to continuous rise in geriatric population and increasing demand for medications for conditions like Alzheimer's disease, memory loss, Huntington's chorea and dementia among others, which in choline chloride finds application. It is also used in treating conditions like cirrhosis of the liver and fatty degeneration, which contributes to the growth rate witnessed by this segment.
• In context to Form, the Liquid segment held a larger market share of more than 60.0% in 2018, with a CAGR of 4.4% during the forecast period. The market share held by the Liquid segment is attributed to wide application of the organic compound in this form in feed applications due to its advantages like it can be directly applied to concentrate feed mixtures and it is an economical options, which results in its elevated preference among end-users, contributing to the market share held by this segment.
• In regards to End-user, the Animal Feed segment held the largest market share of more than 30.0% in 2018, with a CAGR of 4.9% during the forecast period. The market share held by the Animal Feed segment is attributed to the fact that this organic compound is considered as an essential feed additive in livestock, particularly in poultry wherein it helps in normal maturation, prevents perosis and maintain cell membrane integrity that result in the high demand for feed grade choline chloride in animal feed, which contributes to the market share held by this segment.
• In regards to the region, Europe held 31.0% of the market in 2018, with a CAGR of 5.1% during the forecast period. The market share held by the region is attributed to the expanding healthcare & pharmaceutical industry, increasing geriatric population, and continuously increasing demand for dietary & health supplement products.
• Key participants include Taminco Corporation, Balchem Corporation, Algry Quimica Sl, Balaji Amines Ltd., Jubilant Life Sciences Ltd., Havay Chemicals, BASF SE, A&C Co. Inc., Pestell Mineral & Ingredients and Be-Long Corporation.
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For the purpose of this report, Reports and Data have segmented the global Choline Chloride market according to Grade, Form, End-user, and Region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• Feed Grade
• Food Grade
• Technical Grade
• Pharmaceutical Grade
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• Animal Feed
• Oil & Gas
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire