Increase in demand for infant formula and fortified food & beverages, and various health benefits associated with choline bitartrate are the major factors that propel the growth of the global choline bitartrate market.
PORTLAND, Ore., July 12, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Choline bitartrate Market by Type (DL, D, L), by Application (Pharmaceutical and Nutritional Supplement, Food and beverage, Baby Food, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global choline bitartrate industry was estimated at $410.2 million in 2021, and is anticipated to hit $736.2 million by 2031, registering a CAGR of 6.1% from 2022 to 2031.
Drivers, restraints, and opportunities-
Increase in demand for infant formula and fortified food & beverages and various health benefits associated with choline bitartrate are the major factors that propel the growth of the global choline bitartrate market. On the other hand, surge in inclination toward natural food products along with stringent regulations directed toward manufacturing infant formula impedes the growth to some extent. However, rise in inclination toward preventive health care is expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- The outbreak of the pandemic increased the demand for choline bitartrate from a wide range of end-use sectors, including pharmaceuticals, dietary supplements, baby food, and animal feed. This, in turn, has had a positive impact on the global choline bitartrate market.
- Sales of dietary supplements advertised for immune health experienced a steep incline since many individuals believed that these items might provide the much-required protection from SARS-CoV-2 infection.
The L segment to dominate by 2031-
By product, the L segment contributed to the major share in 2021, holding nearly half of the global choline bitartrate market. The same segment would also cite the fastest CAGR of 7.1% during the forecast period. This is due to developments in the pharmaceuticals and nutraceuticals industry worldwide.
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The pharmaceutical and nutritional supplement segment to maintain the lion's share-
By application, the pharmaceutical and nutritional supplement segment accounted for the major share in 2021, holding nearly one-third of the global choline bitartrate market. The others segment, on the other hand, is expected to grow at the fastest CAGR of 7.1% from 2022 to 2031. This is because the other segments include feed additives and personal care & cosmetics. Choline bitartrate is a B vitamin family member, that aids in the synthesis of cell membranes and aids in the maintenance of adequate levels of B vitamins that aid in the creation of collagen and elastin in the skin.
North America garnered the major share in 2021-
By region, the market across North America had the lion's share in 2021, generating nearly two-fifths of the global choline bitartrate market. This is attributed to increase in disposable incomes, innovations in new products, and high birth rate across the province. Asia-Pacific, however, is projected to portray the fastest CAGR of 8.0% by 2031, owing to the increasing demand for baby food and newborn formula across the region.
Key players in the industry-
- Celtic Chemicals Ltd.
- Cepham Life Sciences
- Glentham Life Sciences Ltd.
- MP Biomedicals; Balchem Inc.
- Nutragreenlife Biotechnology Co. Ltd.
- NutriScience Innovations, LLC
- Fengchen Group Co. Ltd.
- TOKYO CHEMICAL INDUSTRY CO., LTD.
- Puyer Group
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