The choline chloride market in APAC was valued at US$ 277.8 million in 2018 and is projected to reach US$ 410.9 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027.
Choline chloride is largely used as an additive in animal feed, to enhance the growth of animal. Choline chloride has also found a profound place in the oil and gas industry, where it is used as a clay stabilizer. Choline chloride is soluble in water as well as in alcohol consists of deliquescent white crystals of neutral pH that makes it compatible to be consumed in the powdered or liquid form. The multiple application of choline chloride is expected to create a significant opportunity for choline chloride market across the world.
Based on product, the choline chloride market in APAC is segmented into feed industry, human nutrition, oil and gas industry, and others. The feed industry segment holds the largest share of the choline chloride market in APAC. Choline chloride is used in animal and aqua feed products, owing to its high nutritional profile and benefits associated with building structural cells in the animals. Choline is induced in the vitamin B group that principally occurs as a methyl group donator. These labile methyl groups are essential for the formation of vital body substances such as adrenaline and creatine, metabolic reactions, and fat conversions. Moreover, rapid growth in the feed industry in APAC region is fuelling the growth of the choline chloride market.
Based on country, the choline chloride market in APAC is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. The China holds the largest share of the choline chloride market in APAC, which is followed by India. The increase in demand for animal food additive products in China has positively impacted the growth of choline chloride market in the region. Further, growing awareness among consumers related to health benefits of choline chloride coupled with rising purchasing capacity of population to spend on products for good health are boosting the demand for choline chloride in the region.
BASF SE, Balaji Amines Ltd., Balchem Corporation, Be-Long Corporation, Eastman Chemical Company, GHW EUROCHEMICALS s.r.o., Jubilant Life Sciences Limited, and NB Group Co., Ltd are among the key players present in the choline chloride market in APAC.
The overall size of choline chloride market in APAC is analyzed using primary and secondary sources. The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Choline chloride market in APAC. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion of leaders specialized in choline chloride.