Chelated Minerals Market

Global Chelated Minerals Market Size (2024 To 2029)

The global Chelated Minerals market share value is expected to grow at a CAGR of 7.6% during the forecast period 2024 to 2029 to USD 4.19 billion in 2024 and USD 6.04 billion by 2029.

Minerals play a vital role as essential nutrients required for proper bodily function. They impact various aspects of bodily processes, including growth, bone health, muscle contractions, fluid balance, and more. However, the absorption of many minerals poses a challenge for the body. For instance, the intestines might absorb only a small percentage, ranging from 0.4% to 2.5%, of chromium from food. This has prompted a recent surge of interest in chelated minerals, which are supplements acclaimed for their enhanced absorption properties. Chelated minerals are minerals that have formed bonds with two or more amino acids, rendering them more bioavailable for the body's utilization. In this "chelated state," the mineral can more easily traverse the intestinal wall and enter the bloodstream, thereby facilitating increased metabolic activity involving that mineral. For instance, chromium picolinate exemplifies a type of chelated mineral where chromium is linked to three picolinic acid molecules. It follows a distinct absorption pathway compared to dietary chromium and is noted for its heightened stability within the body. Consequently, chelated minerals are frequently advocated for their improved absorption when compared to their non-chelated counterparts. Thus, the chelated minerals market is likely to experience rapid expansion in the upcoming year. 

The increasing concerns for quality management and related investments present untapped opportunities in the Chelated Minerals market. Prominent manufacturers are placing substantial emphasis on quality management and allocating investments in research and development to guarantee that their chelated minerals meet the benchmarks established by international standards. To enhance the widespread acceptance of their chelated minerals, companies are also securing quality certifications and aligning their practices with the standard operating procedures outlined by international food and safety organizations.

Global Chelated Minerals Market Drivers:

The rising demand for high-nutrient food containing minerals is majorly attributed to fueling the demand of the chelated minerals market. Chelated minerals serve as essential organic sources of critical trace elements, encompassing magnesium, chromium, iron, calcium, and zinc. This process involves utilizing chelating agents like combinations of amino acids, polysaccharides, and proteinates. It has been observed that consumer behavior has rapidly shifted towards a preference for protein-rich foods, driven by changes in lifestyle and increased spending capacity. Furthermore, a surge in demand for wholesome and nourishing animal feed has emerged due to heightened concerns about animal infections arising from contaminated feed. This trend contributes significantly to driving the demand for chelated minerals marke0074.

Moreover, rising demand for vegan-based products is also likely to drive the market. The growing global trend and popularity of adopting a vegan diet or practicing veganism have led to an increasing demand for dietary supplements that can address the body's mineral requirements. Minerals and nutrients play pivotal roles in various bodily functions. Opting for a vegan or plant-based diet can result in deficiencies in crucial minerals such as vitamin B12, vitamin D, and iron. The omission of eggs, meat, and dairy products from one's diet can potentially give rise to significant health issues, necessitating the consideration of dietary supplements to maintain health. Therefore, the surge in health consciousness and a propensity to allocate more resources towards health-related supplements due to their established health advantages also contribute to the growth of the chelated minerals market.

Global Chelated Minerals Market Restraints:

The factors likely to hamper the market growth of the chelated minerals market could be the high price competition between the key player of the market. Within the global market, an array of both smaller domestic and larger multinational companies operate. Consequently, this dynamic fosters competitive pricing among market participants, a factor that has constrained the expansion of the market. The costs of raw materials for mineral sources, including zinc and copper, demonstrate a tendency to fluctuate in response to shifts in the London Metal Exchange (LME) or due to elevated import duties levied in certain nations. Additionally, the restricted availability of scrap material in specific instances exerts upward pressure on raw material prices. This subsequently results in an escalation in the costs of chelated minerals. Such elevated prices typically discourage the widespread adoption of chelated minerals among consumers.

Impact of COVID-19 on the Chelated Minerals Market:

Industries across the globe encountered significant disruptions during the global COVID-19 pandemic as governments introduced lockdown measures to curb the virus's spread. This resulted in the temporary closure of manufacturing facilities and halted production processes. Moreover, the worldwide availability of chelated minerals was adversely affected by scarcities in raw materials and supply chain interruptions arising from import and export restrictions imposed by various nations.

However, amidst the pandemic, heightened awareness regarding health, nutrition, and essential dietary supplements crucial for optimal bodily functioning has provided momentum to the chelated minerals market. This shift in awareness led to a substantial surge in demand within the food and beverage sector during and after the pandemic. This surge was driven by increased consumer preference for natural and organic food supplements, indicating a significant evolution in dietary habits.

REPORT COVERAGE: 

This research report on the Global Chelated Minerals Market has been segmented and sub-segmented based on type, chelating agents, application, and region.   

Global Chelated Minerals Market - By Type:

• Zinc

• Iron

• Cobalt

• Copper

• Chromium

• Others

Based on type, the zinc segment dominated the Chelated Minerals market in 2022, and it is anticipated to grow at the highest CAGR during the projected period. Zinc, a crucial element for the synthesis of insulin, DNA, RNA, and various enzymatic processes, ranks among the eleven trace elements that facilitate a multitude of biological functions. This trace mineral is instrumental in supporting immunological responses, protein synthesis, hair upkeep, as well as cellular repair and rejuvenation. A specific form known as chelated zinc has been developed to enhance the body's absorption of zinc throughout the digestive tract, aiding in its overall effectiveness.

The zinc segment is followed by iron and cobalt, which are found in most of the vitamins. These segments are likely to record the quickest CAGR during the forecast period.

Global Chelated Minerals Market - By Chelating Agents:

• Amino Acid

• Polysaccharide Complex

• Proteinate

• Others

Based on the chelating agents, the amino acid segment dominated the Chelated Minerals market in 2022 and is expected to record the highest CAGR during the forecast period. This is attributed due to the involvement of amino acids in fundamental protein building blocks for all forms of life. The utilization of amino acids as chelating agents presents several advantages, such as reduced costs due to heightened efficiency at lower acid concentrations, enhanced crop yields, extended shelf life, and diminished pesticide residues.

On the other hand, the polysaccharide complex is expected to record the quickest CAGR during the forecast period.

Global Chelated Minerals Market - By Application:

• Animal Feed

• Dietary Supplement

• Pharmaceutical

• Fertilizer

• Others

Based on the application, the highest revenue was generated by the animal feed sector in the chelated minerals market. Chelated minerals find extensive application in the diets and feeds of diverse animal species, ranging from cattle and dogs to birds, pigs, horses, and aquatic organisms. The adoption of trace mineral chelates in animal feed is driven by the limitations of inorganic trace mineral forms, which exhibit restricted bioavailability, interact with other feed components, form large, soluble compounds, and display instability within an animal's digestive process.

On the other hand, the dietary supplement is expected to record the quickest CAGR during the forecast period.

Global Chelated Minerals Market – By Region:

• North America

• Europe

• Asia-pacific

• Middle-East and Africa

• Latin America

Based on region, the North American region is set to lead the chelated minerals market. In the United States, including chelated trace minerals as a supplement in various stages of pig diets is a customary practice. Selenium emerges as the most prevalent chelated trace mineral integrated into pig diets. A significant concern in animal agriculture involves the emission of heavy metals, which have detrimental effects on the environment. The increasing demand for precision trace minerals as essential components in animal feed presents prospective opportunities for industry players engaged in the production of chelated trace minerals for animal feed within the United States throughout the projected period. Chelated trace minerals serve as a valuable solution, facilitating the optimal delivery and absorption of essential trace minerals. Additionally, the growing awareness regarding the benefits of synthetic trace minerals has driven the consumption of the chelated mineral, consequently aiding North America in securing a competitive market share.

Furthermore, the Asia-Pacific region is projected to achieve the fastest CAGR in both consumption and production within the Chelated Minerals Market. The surge in consumer demand for protein-rich diets due to swift shifts in consumer behavior and increased spending power is propelling market growth. 

Europe holds a prominent market share attributed to the rising need for premium-quality nutritional animal feed, subsequently spurring the demand for chelated minerals.

KEY MARKET PLAYERS

Key Market Players of Chelated Minerals Market are Archer Daniels Midland (ADM), Altech Corporation, Koninklijke, DSM N.V, Nutreco N.V, Kemin Industries Inc, Invivo Group, BASF SE, China National Bluestar (Group) Co., Ltd, Cargill.

RECENT HAPPENINGS IN THE MARKET:

• In Nov 2022, Alltech Corporation has recently inaugurated a new manufacturing facility in Vietnam. This state-of-the-art establishment will be dedicated to producing organic mineral products. With an annual production capacity of approximately 7,000 metric tonnes, the factory is poised to contribute significantly to the production of these products.

• In Aug 2022, Balchem Corporation acquired Bergstrom Nutrition, a prominent Vancouver, Washington-based company recognized for its scientific production of methylsulfonylmethane (MSM). This strategic acquisition not only enhances Balchem's customer base but also expands its geographical presence.