According to a new market report published by Credence Research Global Zinc Citrate Market– Growth, Future Prospects & Competitive Analysis, 2016 – 2024, the Global Zinc Citrate Market is expected to reach US$ 227.6 Mn by 2024, expanding at a CAGR of 5.7% during the forecast period 2016 to 2024.
Browse the full Global Zinc Citrate Market by Application and Geography – Growth, Future Prospects & Competitive Analysis, 2016 – 2024 report at http://www.credenceresearch.com/report/zinc-citrate-market
Zinc citrate market is expected to witness significant growth with increasing application for the zinc citrate in various end use industries such as food, beverages, personal care, industrial application, healthcare, and food & pet food. Zinc citrate is mainly used in healthcare and personal care industry. It is widely used in dental care products such as toothpastes, mouth washes and chewing gums due to its antimicrobial and anti-inflammatory effects and its ability to reduce or inhibit the formation of dental plaque and tartar. In pharmaceutical industry, zinc citrate is used in medicines for treating common colds, improving immune system and several other applications. Zinc citrate is increasingly used in food supplements, functional foods and beverages. It is also used in the agricultural industry as soil fertilizer and micronutrient supplier to plants.
However, increasing threat from substitution from other zinc sources and side effects of zinc citrate is expected to hamper the growth of zinc citrate market during the forecast period (2016-2024).
Global zinc citrate market is segmented on the basis of application and geography. By applications, in 2015 healthcare segment was the most dominant segment accounting for over 29.41% revenue share in global zinc citrate market. Growing use of zinc citrate in toothpaste, mouthwashes, chewing gums and medicines is anticipated to drive the growth of the segment during the forecast period. Personal care application is anticipated to be the fastest growing application among all applications in global zinc citrate market. Growing demand for personal care products owing to growing consumer concerns over beauty and care is projected to drive the demand for zinc citrate over the forecast period. On the basis of geography, Asia Pacific was estimated to be the largest market for zinc citrate in 2015. Growth in population along with growing health concerns among consumers fueling the demand for medical and healthcare products. Further, high demand for food and personal products in the regions is anticipated to drive the demand for the zinc citrate in the region. The region is also anticipated to be the fastest growing region during the forecast period. Followed by it, North America is anticipated to be the second largest region in global zinc citrate market. The region is anticipated to witness significant growth over the forecast period.
Major players in global zinc citrate market are investing in expansion of production capacity along with high focus on research and development to lower the production cost. To increase the market penetration companies are focusing in merger and acquisition.
Overall, global zinc citrate market is anticipated to register significant growth over the forecast period (2016-2024).
- Merger & Acquisition
- Production capacity expansion
- Joint ventures and agreements
- Investment in research and development