north america choline chloride Market

The North America Choline Chloride market is accounted to US$ 126.5 Mn in 2018 and is expected to grow at a CAGR of 5.5% during the forecast period 2019 - 2027, to account to US$ 203.9 Mn by 2027.

Choline chloride is largely used as a feed additive for accelerating animal growth in which the animal feed has experienced a significant increase in the past few years. Choline chloride has also found a profound place in the oil and gas industry to be used as a clay stabilizer and has been estimated to create a significant opportunity for the choline chloride market all over the globe. Choline chloride is soluble in water as well as in alcohol which consists of deliquescent white crystals of neutral pH that makes it compatible to be consumed in the powdered or liquid form.

The North America choline chloride market is segmented based on product as feed industry, human nutrition, oil and gas industry and others. The feed industry segment holds the largest share in the North America choline chloride market. Choline chloride is used in the manufacturing of animal feed and aqua feed products due to its high nutritional profile and the necessity of choline in maintaining and building of 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 necessary for the formation of vital body substances such as adrenaline and creatine and also in the metabolic reactions and fat conversions. Additionally, rapid growth in the feed industry in North America region is fuelling the growth of the choline chloride market in the feed industry.

North America choline chloride market is segmented based on country as US, Canada, and Mexico. The US holds the largest share in the North America choline chloride market, which is followed by Canada.The United States is one of the major country dominating the choline chloride market in North America, followed by Canada. In US, the demand for animal food additive products has substantially increased, which has impacted the demand for choline chloride. Further, the demand for choline chloride is rising in the region due to growing consciousness among consumers related to the health benefits of choline chloride coupled with the increasing purchasing power to spend on products for better living.

Some of the players present in North America choline chloride market are BASF SE, Balaji Amines Ltd., Balchem Corporation, Eastman Chemical Company, Jubilant Life Sciences Limited, NB Group Co., Ltd. and Pestell Minerals & Ingredients Inc. amongst the others.

The overall North America choline chloride market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America Choline chloride market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically 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 leaders specializing in the North America choline chloride market.