Zinc Citrate Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3546
Zinc Citrate Market size is likely to witness moderate growth during the forecast period owing to increasing demand from the healthcare, food & beverage, and personal care industries. Zinc citrate is manufactured by the neutralization of citric acid using a high purity zinc source. It is available in a white powder form and is odorless, insoluble in ethanol and is slightly soluble in water.
Developments in the healthcare industry will be a major growth enabler for the zinc citrate market. North America and Europe are major pharmaceutical manufacturing regions followed by Asia Pacific and Latin America. Government initiatives to provide low-cost healthcare services to its population, increasing instances of chronic & acute diseases, and propelling demand for pharmaceutical products from a rising world population are the major factors that will drive pharmaceutical manufacturing activities across the globe. This will in turn augment the zinc citrate demand in the forecast period and will drive the industry growth.
Food & beverage industry development will also play a major role in augmenting the zinc citrate market growth. The product is used in the food & beverage manufacturing industry as a preservative and as an antibacterial formulation. Rising population, increasing income levels, and lifestyle changes has led to a significant growth in the global food & beverage industry. Emerging economies in Asia Pacific, Latin America and Middle East are witnessing high growth rates in their food & beverage manufacturing industries. These trends are likely to have a positive effect on the zinc citrate market during the forecast period.
Threat of substitution from other similar products such as zinc gluconate is likely to hinder the industry growth during the forecast period. Health issues related to product usage such as vomiting, appetite loss, nausea, etc. may also hamper the product market growth in coming years.
The market is segmented on the basis of product and application. Two of the most commonly used product types include dihydrate and trihydrate. Zinc citrate dihydrate has two associated water molecules and is used for a range of applications such as a dietary supplements, nutrients, and in oral care products. Zinc citrate trihydrate has three associated water molecules and is used in pharmaceuticals, food supplements, and as a fertilizer & micronutrient for plants.
According to application, the zinc citrate market is segmented into pharmaceutical, food & beverage, personal care, and other end-users such as agriculture, household products, etc. Pharmaceutical is a key end-user industry in the market owing to the extensive product usage in manufacturing food supplements and medicines. In the personal care industry, the product is used as an anti-inflammatory and antimicrobial agent in toothpastes, mouthwashes, deodorants, hair & skincare products. Personal care application segment will hold a substantial share of the product market by the end of the forecast period.
Asia Pacific will be a key zinc citrate market that is likely to grow at a fast rate. Rising disposable income, developments in the healthcare industry in emerging economies, as well as high growth in the food & beverage industry will augment the Asia Pacific market during the forecast period. Latin America and Middle East & Africa regions will also witness a fast growth rate during the forecast period. North America and Europe will have significant shares of the global market in the forecast period owing to the mature pharmaceutical, food & beverage and personal care industries.
The zinc citrate market is characterized by the presence of several large multinational manufacturers and other medium scale regional producers. Some of the key industry participants include Jungbunzlauer Suisse AG, Noah Technologies Corporation, Advanced Compounds International, Kronox Lab Sciences, Sucroal, Jost Chemical Company, Gadot Biochemical Industries, Dr. Paul Lohmann, Global Calcium, TIB Chemicals, and many more.
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