PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485727
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485727
Zinc Acetate Market size was valued at USD 189.83 Million in 2023, expanding at a CAGR of 5.3% from 2024 to 2032.
Zinc acetate is a salt that consists of zinc and acetic acid. It is frequently employed in a range of industrial and laboratory settings, such as a dietary supplement because of its zinc concentration, a food additive, and in the manufacturing of specific chemicals. In addition, zinc acetate is utilized in the pharmaceutical sector for its astringent characteristics and in certain over-the-counter cold treatments for its alleged capacity to lessen the length and intensity of cold symptoms.
Zinc Acetate Market- Market Dynamics
The market is anticipated to experience growth due to the increasing utilization in the pharmaceutical sector.
Zinc acetate possesses therapeutic properties, making it a valuable ingredient in numerous pharmaceutical products. As the demand for these remedies continues to rise, the pharmaceutical industry is expected to rely more heavily on zinc acetate, thereby driving market growth. According to pharmaceutical industry statistics, it is predicted that the overall pharma spending will surpass USD 1 trillion by 2030. On average, it takes approximately 19 months to enroll patients in clinical trials. Additionally, governments and organizations worldwide are implementing food fortification programs, particularly in developing regions, which presents significant growth opportunities for zinc acetate suppliers. However, it is important to note that environmental concerns may pose restrictions on the market's expansion.
Zinc Acetate Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.3% over the forecast period (2024-2032)
Based on Form segmentation, Dihydrate was predicted to show maximum market share in the year 2023
Based on application segmentation, Dietary & Medicine was the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Zinc Acetate Market is segmented based on Form, Application, and Region.
The market is categorized into two groups according to Form: Dihydrate and Anhydrous. Dihydrate holds the majority share in the market. Zinc acetate Dihydrate is manufactured and utilized worldwide, with production facilities strategically located in regions that have notable chemical and pharmaceutical industries.
The market is categorized into four segments according to their application: Dietary & Medicine, Analytical Reagents, Wood Preservative, Chemical, and Others. Among these, the Dietary & Medicine segment holds the largest share. Zinc acetate, a valuable compound in the dietary and medicine sectors, plays a crucial role in providing essential zinc supplementation and potential therapeutic benefits for various health conditions.
Zinc Acetate Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. The Asia Pacific region leads the market, driven by the growing demand in the chemical industry. The chemical sector in the Asia-Pacific region is experiencing significant growth, fueled by urbanization, infrastructure development, and increasing consumer needs. The rising demand for these products plays a key role in the dominance of the region in the zinc acetate market. As per the Information Technology and Innovation Foundation, China has emerged as the largest chemicals market globally, providing Chinese manufacturers with a strategic advantage in their domestic market. In 2022, China represented 44 percent of global chemical production and 46 percent of capital investment. Europe follows as the second-largest region for market expansion, attributed to the increasing use as a food additive.
Major contributors to the zinc acetate market include companies focusing on nutraceuticals and dietary supplements. They offer a variety of zinc-based products to tackle nutritional deficiencies and promote overall health and well-being. Competition among these companies is influenced by factors like product innovation, quality, adherence to regulations, distribution channels, and marketing strategies. The key players in the market consistently strive to enhance their market position and cater to the changing demands of consumers and healthcare professionals seeking zinc-based solutions for health and well-being.
FUJIFILM Holdings Corporation has recently achieved the prestigious "Diamond" certification in the Fujifilm Group's "Green Value Products" program. This certification recognizes the company's production method for chemical products, which effectively minimizes environmental impact through the implementation of innovative technologies.
GLOBAL ZINC ACETATE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Merck KGaA
Thermo Fisher Scientific, Inc.
Jost Chemical Co.
FENGCHEN GROUP CO., LTD.
Fujifilm Holdings Corporation
Celtic Chemicals Ltd.
TIB Chemicals AG
Spectrum Chemical Mfg. Corp
Kerry Group PLC
GFS Chemicals, Inc.
Others