Global Choline Chloride Market is anticipated to rise at a value CAGR of 5.55% over 2019-2028. According to a study published by Insure Insights on the Global Choline Chloride Market. Choline chloride is an organic compound; it made up of quaternary ammonium salt and alcohol. It consists of a cation that is choline, which occurs naturally and is widely used in animal feed activities. The increasing consumption of poultry meat and egg and the demand for meats are highly contributing to the market growth
Top Driver: The rise in Animal husbandry, cattle, and pig farming has driven the market growth
The rise in Animal husbandry, cattle, and pig farming activities around the world is the key factor driving market growth. Countries like India are highly dependent on agriculture and farming, and an increase in the awareness to provide high-quality feed to the animals for better meat, egg, and milk etc. have enhanced the market of Choline Chloride. Choline chloride also is beneficial to the humans as they improve the liver function improves the neurological and cognitive functions, and thus have boosted the overall market
70% grade has made the highest segmental growth in the Global Choline Chloride Market
Based on the Grade 70% grade segment has dominated segmental growth. 70% grade is essential for the calves, fish, poultry, pigs; they play a significant role in preventing fatty liver, improves the growth, and muscle control. The rise in the animal husbandry, poultry, cattle farming activities has aggregated the demand for 70% grade and have enhanced the segmental growth. The high use of 70% grade Choline chloride in oil & gas sector, as it benefits in clay stabilization and have compatibility with drilling muds and thus have further improved the segmental growth
In terms of the Application, the market is segmented as animal feed, oil & gas, human nutrition, others. Oil & gas have obtained lucrative market growth, as Choline Chloride acts as an excellent clay stabilizer and thus reduces cost increases the production activity the oil & gas.
Increase in the animal actives in North America has proved to be a boon for the market
Growing animal activities like cattle farming, poultry, animal husbandry, pig farming are the key factor for the lucrative growth in North America. An increase in the awareness among the caretakers to provide high-quality animal protein, along with technological advancement in the processed meat industry, have positively influenced the demand for choline chloride in the region. Asia Pacific region is anticipated to grow at a higher rate in the forecast due to the increase in the demand for meat.
Mergers, Acquisitions and Technological advancements are the key strategies of the competitors in the market.
Mergers, acquisitions and technological advancement in the products are strategies used by competitors for the overall growth. The key competitors of the Global Choline Chloride Market Algry Quimica SI, Kemin Industries Inc., Balchem Corporation, NB Group Co. Ltd., Taminco Corporation, Be-Long Corporation, Jubilant Life Sciences Ltd., Balaji Amines Ltd., Pestell Minerals & Ingredients and Havay Chemicals.
Balchem Corporation: Balchem Corporation is one of the major competitors of Choline Chloride. In May 2019, Balchem Corporation Had announced the acquisition of Chemogas, NV; it is a privately held specialty gases company, this deal was done by Balchem Corporation to expand its geographic presence in the packaged ethylene oxide market
Kemin Industries: Kemin Industries is one of the key competitors of the market. In January 2018, Kemin Industries had announced the acquisition of Garmon Chemicals, textile auxiliary business. .Garmon Chemicals are an international provider of chemical auxiliaries and garment processing. The deal was done by Kemin Industries to hold a significant position in the textiles market.
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