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Chromium Picolinate Market

Chromium Picolinate Market by Grade, End Use & Region - Forecast 2022 - 2032

Market Insights on Chromium Picolinate covering sales outlook, demand forecast & up-to-date key trends

Chromium Picolinate Market Snapshot

The global chromium picolinate market size totaled US$ 10.5 Bn in 2021. The sales of chromium picolinate are expected to surpass a valuation of 11.5 Bn by 2022, rising at a remarkable CAGR of nearly 8% to 9% during the forecast period 2022-2032. The demand for chromium picolinate is estimated to exceed US$ 20 Bn by the end of 2032.

Report Attribute

Details

Chromium Picolinate Market Registered Base Value (2021)

US$ 10.5 Billion

Chromium Picolinate Market Expected Value (2022)

US$ 11.5 Billion

Chromium Picolinate Market Anticipated Value (2032)

US$ 20 Billion

Chromium Picolinate Market Projected Growth Rate (2022-2032)

8% to 9% CAGR

Chromium picolinate, commonly referred to as chromium tripicolinate, is a mineral that is generally found in most health and dietary supplements. It is a pink to reddish color powder which is naturally present in minimal amounts in food items such as grain bread, meat, fish, and others. Chromium is a vital mineral for the human body. Hence, growing prevalence of chromium deficiency due to rise in poor eating habits and changing lifestyles are demand for chromium picolinate in the global market.

Which are Prominent Restraints Hampering the Growth in the Global Chromium Picolinate Market

There are several side effects associated with the consumption of chromium picolinate such as mood swings, headache, insomnia, upset stomach, loss of appetite, jaundice, dark urine, and serious liver & kidney damage among others. Rising awareness regarding such adverse health effects is hindering the demand in the market.

In addition to this, growing customer preference for adopting plant-based dietary supplements is further restraining the sales of chromium picolinate in the global market.

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Why is the Sales of Chromium Picolinate Accelerating in the South Asia Market

South Asia is expected to account for a significant share in the global chromium picolinate market between 2022 and 2032, states Future Market Insights.

With rising concerns regarding health and growing obese population across countries such as India, Thailand, Bangladesh, and others, there is a significant rise in consumption of dietary supplements.

Hence, a number of industry players are focusing on launching novel dietary supplements with chromium picolinate to control cholesterol and glucose levels in the body. For instance, in 2022, Vestige, an Indian manufacturer of dietary supplements announced launching new chromium picolinate-based health supplement, Vestige Pre-Gluco Health Capsules for people prone to pre-diabetes. A slew of such new product launches is estimated to augment the growth in the South Asia market.

How is North America Contributing to Overall Revenue Share in the Chromium Picolinate Market

As per FMI, North America is projected to emerge as a highly remunerative market for chromium picolinate during the forecast period 2022-2032.

Due to the growing consumption of chocolates, sweet beverages, confectioneries, and others in the countries such as the U.S. and Canada, a substantial rise in prevalence of diabetes is being witnessed across North America.

According to the American Diabetes Association, in 2019, nearly 11.3% of the total population or around 37.4 Mn people in the U.S. had diabetes. As chromium picolinate assists in enhancing the levels of insulin and maintaining a healthy blood glucose level, it is increasingly used in production of medications, tablets, and supplements for diabetic patients. Hence, rising burden of diabetes is favoring the growth in the North America market.

Nandini Roy Choudhury
Principal Consultant
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Market Competition

Some of the leading players in the chromium picolinate market are Amsal Chem Private Limited, Merck KGaA, Mubychem Group, Celtic Chemicals Ltd., Resonance Specialities Ltd., Yihan Industrial Co., Ltd., Sellwell (Group) Chemical Factory, Cambridge Commodities Limited, Chemlock Metals Corporation, Oceanic Laboratories Pvt. Ltd., Anmol Chemicals Group, Salvi Chemical Industries Ltd., and others.

Leading participants in the market are focusing at adopting capacity expansion, collaboration, mergers & acquisitions strategies to gain edge in the highly competitive market

Report Scope

Report Attribute

Details

Growth Rate

CAGR of 8% to 9% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Grade
  • End Use
  • Region

Countries Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Key Companies Profiled

  • Amsal Chem Private Limited
  • Merck KGaA
  • Mubychem Group
  • Celtic Chemicals Ltd.
  • Resonance Specialities Ltd.
  • Yihan Industrial Co., Ltd.
  • Sellwell (Group) Chemical Factory
  • Cambridge Commodities Limited
  • Chemlock Metals Corporation
  • Oceanic Laboratories Pvt. Ltd.
  • Anmol Chemicals Group
  • Salvi Chemical Industries Ltd.
  • Others

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Key Segments Profiled in the Chromium Picolinate Market Survey

By Grade:

  • Food Grade
  • Pharmaceutical Grade
  • Others

By End Use:

  • Food & Beverage Industry
  • Dietary Supplement Industry
  • Nutraceutical Industry
  • Pharmaceutical Industry
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Frequently Asked Questions

FMI projects the demand for chromium picolinate market to expand at 8% to 9% value CAGR over the forecast period 2022-2032

The chromium picolinate market is dominated by South Asia, and this trend is projected to continue for the assessment period.

Amsal Chem Private Limited, Merck KGaA, Mubychem Group, Celtic Chemicals Ltd., Resonance Specialities Ltd., Yihan Industrial Co., Ltd., Sellwell (Group) Chemical Factory, Cambridge Commodities Limited, Chemlock Metals Corporation, Oceanic Laboratories Pvt. Ltd., Anmol Chemicals Group, Salvi Chemical Industries Ltd., and others are some key chromium picolinate manufacturer.

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Chromium Picolinate Market