Zinc Citrate Market to Perceive Substantial Growth During 2020
Zinc
citrate is a stable, odorless, light colored crystalline powder with
low solubility. Zinc citrate is primarily used as a source of zinc
for various medical and dental applications. Zinc citrate is produced
by neutralization reaction of citric acid with pure zinc followed by
precipitation and dehydration. Citric acid is a colorless crystalline
compound extracted from various bio sources including limes, lemons,
etc. Zinc citrate is produced as dehydrate or trihydrate as per the
end user application.
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Zinc
is among the most essential mineral required for proper functioning
of nervous system and immune system and is present in nearly all
cells in human body. Zinc citrate is primarily used as a source of
zinc in various healthcare applications. Zinc citrate is used in
several dental applications such as toothpaste, chewing gums and
mouth washes among others. In pharmaceutical industry, zinc citrate
is used for varied applications including improving immune system,
curing common cold and respiratory disorders among several other
applications. Pharmaceutical is the largest application segment for
zinc citrate and the trend is anticipated to continue during the
forecast period
Deficiency
of zinc leads to several issues including skin infections,
respiratory disorders, delay in wound healing and various dental
issues among several others. Therefore, high growth in pharmaceutical
industry is a major factor fuelling growth for zinc citrate market.
Moreover,
increasing demand for mouthwash, chewing gums and other dental
application is also anticipated to be among major growth driver for
zinc citrate market during the forecast period. Food is among a major
end user industry for zinc citrate. Therefore, increasing population
and growth in disposable income of a region are among major growth
drivers for zinc citrate demand. Increasing threat from substitution
from other zinc sources such as zinc gluconate is a major factor
restraining growth for zinc citrate market. Increasing research and
development activities to increase the application scope of zinc
citrate is expected to offer huge growth opportunity in the market.
Asia
Pacific dominates the global demand for zinc citrate and the trend is
anticipated to continue for a foreseeable future. China followed by
India, are the largest nations across the globe in terms of
population, moreover increasing disposable income of people in the
region has led to growth in several end user industries including
pharmaceutical and food among others. Asia Pacific is expected to be
the fastest growing region for zinc citrate demand during the
forecast period.
North
America is the second largest market for zinc citrate followed by
Europe. Demand for zinc citrate in North America and Europe is
anticipated to grow at a better pace in the near future. Moreover,
owing to double digit growth in Asia Pacific, the market share of
North America and Europe is expected to foresee slight decline over
the next six years. Surge in demand for zinc citrate from various
emerging geographic segments in South America and Middle East is
anticipated to offer huge growth opportunity for zinc citrate market.
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Zinc
citrate market is highly fragmented and dominated by regional players
that constitute major portion of the global market share. The
industry is characterized by high degree of competition and players
compete by price differentiation. Major players in the zinc citrate
market include Noah Technologies Corporation, Advanced Compounds
International, Jost Chemical Co., Kronox Lab Sciences Pvt. Ltd,
Continental Chemical USA and KIC
Chemicals,
Inc. among several others.
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