Zinc Acetate Market is projected to reach $229.0 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.-Allied Market Research

According to a new report published by Allied Market Research, titled, "Zinc Acetate Market by Form and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global zinc acetate market was valued at $138.3 million in 2020, and is projected to reach $229.0 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.

The global zinc acetate market was valued at $138.3 million in 2020, and is projected to reach $229.0 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.

Dihydrate zinc acetate is used in the producing zinc supplements that are available in the form of capsules, tablets, and lozenges. It is used in the treatment of Wilson’s disease. Zinc acetate is used in the production of antibiotics, insulin, creams, and lotions and in mouth rinses.  Anti-acne creams and ointments contain zinc acetate, and are increasingly being used in cosmetic products. Furthermore, zinc acetate therapy is effective in the treatment of Hyperemesis gravidarum (HG) patients as well as in the treatment of retarded physical and sexual development in adolescents with nephropathies. It is added to nutritional beverages and drinks. Apart from nutrition and dietary products, it is used as a wood preservative for preventing the decay of wood products. Untreated wood products inside homes and offices such as those used in floorings and furniture tend to lose their quality if attacked by fungus and molds.  In recent years, the demand for wood products has escalated due to exponential increase in population and high purchasing power. In the synthesis of Zn-Co, catalyst for acetylene acetoxylation, zinc acetate is considered to be the best catalyst active ingredient when taking into account product quality and environmental and economic factors. These applications presently drive the global zinc acetate market demand. However, zinc-based chemicals such as zinc gluconate, zinc sulfate, and zinc citrate cater to similar applications. This could hamper the demand for zinc acetate during the forecast period. Zinc gluconate is used as an over-the-counter form of zinc for treating common cold. Zinc oxide provides sufficient iron to an animal’s body and is a common trace element that continues the function of more than 300 hormones and enzymes.

The global zinc acetate market is segmented into form, application, and region. On the basis of form, the global zinc acetate market is divided into dihydrate and anhydrous. The dihydrate segment accounted for the largest zinc acetate market revenue share in 2020. This is attributed to the fact that the major demand for dihydrate is from the dietary and animal feed markets. Applications of zinc acetate include dietary & medicine, analytical reagent, wood preservative, chemical, and others. The dietary & medicine segment accounted for the largest zinc acetate market revenue share in 2020. The segment includes the use of zinc acetate in the production of dietary supplements, astringents, and animal feed. Thus, high ongoing demand for zinc-based supplements, medicines, and feed products drive the demand for zinc acetate.

Region wise, the global zinc acetate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific accounted for the largest market share in 2020, and is expected to grow at the CAGR of 6.0%. In Asia-Pacific, high demand has been witnessed for zinc-based supplements and drugs.

Key findings of the study

• Asia-Pacific accounted for the largest market share in the global zinc acetate market, and is projected to grow at a CAGR of 6.0%. Countries such as India and China have a big consumer presence in supplements and animal feed market.
• Depending on form, the dihydrate segment accounted for the largest market share in 2020, owing to its wide range of applications such as dietary products, medicines, and chemical. 
• On the basis of application, the dietary & medicine segment accounted for the largest revenue share in 2020, and is expected to grow at the highest CAGR of 5.4%. The segment includes the use of zinc acetate as a feed and food additive for making supplements, animal feed, capsules, tablets, astringents, and lozenges.

Impact Of Covid-19 On The Global Zinc Acetate Market

• The COVID-19 had a net positive impact on the global zinc acetate market. The global spread of the pandemic led to a major spike in sales of supplements and nutrition products.
• It was found that patients with COVID-19 had significantly low zinc levels in comparison to healthy controls. Zinc-deficient patients developed more complications (70.4% vs 30.0%, p = 0.009).
• Zinc is an essential micronutrient factoring in anti-inflammatory and antioxidant functions. In vitro, zinc deficiency is related to enhanced IL-6 and IL-1β production, thereby translating to a pronounced inflammatory response. Hence, there are various ongoing studies to evaluate the role of zinc in antiviral immunity. T
• The recommended dietary allowance for zinc is 11 mg/day in men and 8 mg/day in women. There are concerns for impaired intestinal absorption of copper and suppression of the immune system with long-term intake of high-dose zinc.