Choline Chloride Market Analysis By Product, By Distribution Channel, By End User, and Segment Forecasts 2019 to 2024
Increasing demand for caviar products from sturgeon eggs owing to rise in disposable income and change in consumer perceptions towards gourmet and luxury food habits may have positive impact on choline chloride market size. According to European Commission Statistics, caviar production in Italy was over 35 tonnes in 2016. The decline in sturgeon species across the globe due to overfishing is the major concern for its consumers and environmentalists. The choline chloride is widely used in sturgeon feed to accelerate growth and enhance fish yield. Choline chloride based aquaculture feeds are widely used to increase protein density resulting in better quality and yield of eggs owing to rich concentration of lipids, fats, carbohydrates, and vitamins which may accelerate market share.
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Choline chloride is widely utilized in manufacturing supplements as it aids in improving mental performance, improves memory, and ameliorates the synchronization of metabolic activities between the brain and nervous system which may stimulate choline chloride market revenue. Increasing cases of brain and neurological problems such as dementia, epilepsy, migraines and psychiatric conditions owing to rise in geriatric population and increase in food adulteration instances may foster market share. According to data from World Population Prospects, individuals aged 60 and above were over 960 million globally in 2017.
Choline chloride Market that is soluble in alcohol as well as in water, consists of deliquescent white crystals of neutral pH nature which makes it compatible for consumption in powder or liquid form. It is a vital component of lecithin which assists in lipid transportation in cell plasma and constitutes major concentration in animal cell membranes. It is required for normal growth and maturation of cartilage matrix in animal bodies. Choline chloride is also important for the formation of adrenaline and creatine, aids in fat conversion, as well as other metabolic activities such as maintaining cell structure in many chicken breeds such as leghorn, plymouth, rosecomb, and rhode island white which may foster choline chloride market share.
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North America choline chloride market demand led by U.S. and Canada should witness a significant growth during forecasted period. Changing consumer inclination towards different cuisines and stringent marketing campaigns to promote meat products may foster the demand for meat products thereby driving the market growth. According to U.S. Census data and Simmons National Consumer Survey (NHCS), over 120 million people in U.S. consumed beef jerky and meat snacks in 2018. Increase in demand for exotic meats such as ostrich, rabbit, veal, and other game animals may stimulate market growth.
Global choline chloride market share is fragmented as market consist of many players. Companies such as Kemin Industries, Sigma Aldrich, BASF SE, Jubilant Life Sciences, NB Group, Balchem, A & C, Havay Chemicals, Be-Long, Taminco, Algry Quimica SI, Balaji Amines, and Pestell Minerals & Ingredients are key players operating in market.
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