Selenium-rich Agricultural Products Market - Forecast(2024 - 2030)

Report Code: FBR 34014 Report Format: PDF + Excel

Selenium-rich Agricultural Products Market Overview

Global Selenium-rich Agricultural Products Market size is estimated to reach $345.6 million by 2027, growing at a CAGR of 3.8% during the forecast period 2022-2027. Selenium is a nutritionally essential trace element that naturally occurs in various agricultural products such as sunflower seeds, Brazil nuts, lentils, brown rice, and others. Nowadays, it is widely accessible as a multivitamin dietary supplement. Owing to the rich selenoprotein nature, selenium-rich agricultural products help in several critical body processes such as DNA synthesis, metabolism of thyroid hormone, prevent oxidative stress, and reproduction. Inorganic and organic are two primary forms of selenium. The inorganic form is generally found in soil which is further converted into organic form by plants. The percentage of selenium in food products may vary geographically because the selenium content of the soil is directly proportional to the selenium content of food products. The pH and presence of organic matter in soil are different across the globe. Any deficiency related to this trace element in the body can lead to biochemical alteration that further worsen the body's functioning. Moreover, selenium deficiency made the body vulnerable to viral infections attacks and leads to infertility over time. Also, selenium dearth could aggravate iodine shortage in children and can set cretinism in motion. Growing health consciousness among people, rising disposable income, ameliorating retail network, and noteworthy marketing strategies adopted by market players are factors set to drive the growth of the Global Selenium-rich Agricultural Products Market for the period 2022-2027.

Report Coverage

The report: “Selenium-rich Agricultural Products Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Selenium-rich Agricultural Products Market.

By Type: Grains, Cereals, Fruits, and Vegetables.
By Applications: Human-Centric and Animal Centric.
By Distribution Channel: Offline and Online.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

  • Geographically, the North America Global Selenium-rich Agricultural Products Market accounted for the highest revenue share in 2021. The growth is owing to the high demand for selenium-rich foods because of high health awareness and disposable income to make such purchases. Even the areas with low selenium concentration in the soil are well above recommended dietary allowances.
  • The changing perception of people from eating abundant to eating healthy, growing chronic and viral illnesses, refining retail channels, expanding e-commerce presence in underdeveloped countries are said to be preeminent drivers driving the growth of the Global Selenium-rich Agricultural Products Market. Demand and supply gaps pertaining to pandemic constraints are said to reduce market growth.
  • Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Selenium-rich Agricultural Products Market report.
Selenium-rich Agricultural Products Market Share, By Geography (%), 2021

Global Selenium-rich Agricultural Products Market

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Selenium-rich Agricultural Products Market Segment Analysis-By Applications

The Global Selenium-rich Agricultural Products Market based on the applications can be further segmented into human-centric and animal-centric. The human-centric segment held the largest share in 2021. The growth is owing to growing proactiveness among people regarding their health. Selenium deficiency may lead to cretinism, infertility, viral infection attacks, and biochemical changes that deteriorate proper body functioning. Therefore, the overall demand for selenium-rich agricultural products has grown by a notch in recent years. Furthermore, the human-centric along with animal segment is estimated to be the fastest-growing with a CAGR of 5.2% over the forecast period 2022-2027. This growth is owing to rising demand for better quality meat and dairy products across the globe. As a result, in order to ensure animals’ health and increase the yield of meat and dairy, the global selenium-rich agricultural products demand has heightened as animal feed also.

Selenium-rich Agricultural Products Market Segment Analysis-By Distribution Channel

The Global Selenium-rich Agricultural Products Market based on distribution channels can be further segmented into offline and online. The offline segment held the largest share in 2021. The growth is owing to the wide-ranging presence of retail shops in metropolitan and pastoral areas. Unlike e-commerce, these stores don’t have many prerequisites, they just need a physical facility to drive their sales. On the contrary, e-commerce services require well-establish infrastructure, strong internet connectivity, a tech-friendly population, smartphones, and better relations with sellers. Offline distribution channels extend conveniences of easy and swift purchase, hassle-free return, one-stop solution, sales assistance, opportunity to inspect the quality, and other important aspects such as expiry date which align perfectly with eventful lifestyles of people. Moreover, the online segment is estimated to be the fastest-growing with a CAGR of 5.4% over the forecast period 2022-2027. This growth is owing to a growing inclination toward e-commerce purchases because of pandemic restrictions, increasing trends of work from home, digitalization, 24/7 availability, time-saving nature, the convenience of same-day delivery, and the rising number of smartphone users.

Selenium-rich Agricultural Products Market Segment Analysis-By Geography

The Global Selenium-rich Agricultural Products Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 38% of the overall market in 2021. According to a report, selenium deficiency in this region is extremely low because of adequate diet consumption and heavy intake of food products that are selenium-rich in nature. In addition to that, a well-established retail network (offline and e-commerce) and high gross domestic per capita income because of affluent economies are prominent factors abetting the market. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. China is home to several areas that are known for their lowest selenium consumption. Seafood and meat are deemed to be a primary source of selenium; therefore, as a majority of the population in India and China is vegetarian, selenium deficiency is becoming native to the region. As a result, people are making more demand for selenium-rich agricultural products. In addition to that, rising living standards and GDP per capita are supplementing the aforementioned market in the said region.

Selenium-rich Agricultural Products Market Drivers

Health benefits associated with selenium are anticipated to boost market demand. 

Selenium is one of those trace elements that play a vital role in extending protection against cancer, heart ailments, asthma, and infertility. Therefore, the growing prevalence of such health problems is the biggest driver driving the global selenium-rich agricultural products market. According to a report, nearly 10-15 percent of American couples were infertile or had distress conceiving in 2021; similarly, nearly 25 million had asthma complications. Moreover, the growing prevalence of viral infections has aided the aforementioned market.

Rising GDP per capita income is expected to boost market demand.

As compared to the developed world, developing nations like China and India have staggeringly low per capita because of their humongous population; however, as net exports of these countries are increasing at a relentless pace, their GDP per capita incomes are improving drastically. With growing GDP per capita, the overall living standards of people are augmenting and they are enlarging the demand for nutritious products. For instance, China’s GDP per capita reached over $12000 in 2021 as its net exports soared by 30 percent and reached $3.3 trillion; whereas India has exported nearly $373 billion in the calendar year 2021. In addition to that, the GDP per capita of Brazil is anticipated to whirl around $8464.3 in 2022, nearly $2000 high as compared to the year 2020. Moreover, with 5.6 percent growth, the GDP per capita income of Indonesia is anticipated to reach $4700 in 2022.

Selenium-rich Agricultural Products Market Challenges

The demand and supply gap and growing inflation are anticipated to hamper market growth.

The world economy has taken a huge hit because of the coronavirus. Several businesses have collapsed because of hampered production and transportation activities. Moreover, the gap between demand and supply has worsened the problems for businesses. In addition to that, growing inflation rates and unemployment trends are likely to impact the global selenium-rich agricultural products market. According to a report, in the US the annual inflation rate hit three decades high in October 2021 and reached 6.2 percent. In addition to that, in February 2022, the consumer price index inflation touched 6.07 percent in India, the figure is the highest in the last 8 months.

Selenium-rich Agricultural Products Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Global Selenium-rich Agricultural Products market top 10 companies include-

  1. Nanjing Yuanwang
  2. Eankn International
  3. Luoyang Fuhai Agricultural
  4. Bioarmor
  5. Vitalac Industries
  6. Redmond Agriculture
  7. Coopers Specialty Feeds
  8. Farmann
  9. Zinpro Corporation
  10. Phileo

Recent Developments

  • In February 2022, a study conducted by Dr. Tara Walker (a researcher at Queensland Brain Institute (QBI)) claimed that the presence of trace elements like Selenium in foods can help in curing the cognitive impact of stroke on the brain. The study also claims that selenium-rich foods could enhance overall learning and memory in older people with aging brains by reversing the cognitive decline.
  • In April 2021, A study published in eLife (a Journal) claimed that mice administered with selenium supplements have shown several lifespan benefits such as safety against obesity induced by diet. The study has shown that administration of selenium restricts methionine which eventually leads to a reduction in IGF-1 (hormone) signaling. Consequently, researchers are hoping to translate such benefits into humans.

Relevant Links:

Report Code: FBR 95370

Report Code: FBR 0071

Report Code: FBR 99495 

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1. Selenium-rich Agricultural Products Market Overview
    1.1 Definitions and Scope
2. Selenium-rich Agricultural Products Market - Executive Summary
3. Selenium-rich Agricultural Products Market– Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis-Global
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Selenium-rich Agricultural Products Market– Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Selenium-rich Agricultural Products Market– Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index-Global
    5.3 Case Studies of Successful Ventures
6. Selenium-rich Agricultural Products Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Selenium-rich Agricultural Products Market– By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Selenium-rich Agricultural Products Market - By Type (Market Size –$Million/$Billion) 
    8.1 Grains
    8.2 Cereals
    8.3 Fruits
    8.4 Vegetables.
9. Selenium-rich Agricultural Products Market - By Applications (Market Size –$Million/$Billion) 
    9.1 Human-Centric
    9.2 Animal Centric
10. Selenium-rich Agricultural Products Market – By Distribution Channel (Market Size –$Million/$Billion) 
    10.1 Offline
    10.2 Online
11. Selenium-rich Agricultural Products Market- By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico 
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific 
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of World
        11.5.1 Middle East
        11.5.2 Africa
12. Selenium-rich Agricultural Products Market- Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Selenium-rich Agricultural Products Market– Industry Competition Landscape (Premium)
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Selenium-rich Agricultural Products Market– Key Company List by Country Premium (Premium)
15. Selenium-rich Agricultural Products Market- Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies"     

LIST OF TABLES

1.Global Key Manufacturers Market 2023-2030 ($M)
1.1 Eankn International Market 2023-2030 ($M) - Global Industry Research
1.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Global Industry Research
1.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Global Industry Research
2.Global Market by Type Market 2023-2030 ($M)
2.1 Selenium-Rich Rice Market 2023-2030 ($M) - Global Industry Research
2.2 Selenium-Rich Tea Market 2023-2030 ($M) - Global Industry Research
2.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Global Industry Research
2.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Global Industry Research
3.Global Key Manufacturers Market 2023-2030 (Volume/Units)
3.1 Eankn International Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Luoyang Fuhai Agricultural Products Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Market by Type Market 2023-2030 (Volume/Units)
4.1 Selenium-Rich Rice Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Selenium-Rich Tea Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Selenium-Rich Fruit Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Selenium-Rich Vegetables Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Key Manufacturers Market 2023-2030 ($M)
5.1 Eankn International Market 2023-2030 ($M) - Regional Industry Research
5.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
5.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
6.North America Market by Type Market 2023-2030 ($M)
6.1 Selenium-Rich Rice Market 2023-2030 ($M) - Regional Industry Research
6.2 Selenium-Rich Tea Market 2023-2030 ($M) - Regional Industry Research
6.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Regional Industry Research
6.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Regional Industry Research
7.South America Key Manufacturers Market 2023-2030 ($M)
7.1 Eankn International Market 2023-2030 ($M) - Regional Industry Research
7.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
7.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
8.South America Market by Type Market 2023-2030 ($M)
8.1 Selenium-Rich Rice Market 2023-2030 ($M) - Regional Industry Research
8.2 Selenium-Rich Tea Market 2023-2030 ($M) - Regional Industry Research
8.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Regional Industry Research
8.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Regional Industry Research
9.Europe Key Manufacturers Market 2023-2030 ($M)
9.1 Eankn International Market 2023-2030 ($M) - Regional Industry Research
9.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
9.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
10.Europe Market by Type Market 2023-2030 ($M)
10.1 Selenium-Rich Rice Market 2023-2030 ($M) - Regional Industry Research
10.2 Selenium-Rich Tea Market 2023-2030 ($M) - Regional Industry Research
10.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Regional Industry Research
10.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Regional Industry Research
11.APAC Key Manufacturers Market 2023-2030 ($M)
11.1 Eankn International Market 2023-2030 ($M) - Regional Industry Research
11.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
11.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
12.APAC Market by Type Market 2023-2030 ($M)
12.1 Selenium-Rich Rice Market 2023-2030 ($M) - Regional Industry Research
12.2 Selenium-Rich Tea Market 2023-2030 ($M) - Regional Industry Research
12.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Regional Industry Research
12.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Regional Industry Research
13.MENA Key Manufacturers Market 2023-2030 ($M)
13.1 Eankn International Market 2023-2030 ($M) - Regional Industry Research
13.2 Nanjing Yuanwang Selenium-rich Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
13.3 Luoyang Fuhai Agricultural Products Market 2023-2030 ($M) - Regional Industry Research
14.MENA Market by Type Market 2023-2030 ($M)
14.1 Selenium-Rich Rice Market 2023-2030 ($M) - Regional Industry Research
14.2 Selenium-Rich Tea Market 2023-2030 ($M) - Regional Industry Research
14.3 Selenium-Rich Fruit Market 2023-2030 ($M) - Regional Industry Research
14.4 Selenium-Rich Vegetables Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
2.Canada Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
3.Mexico Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
4.Brazil Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
5.Argentina Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
6.Peru Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
7.Colombia Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
8.Chile Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
10.UK Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
11.Germany Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
12.France Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
13.Italy Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
14.Spain Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
16.China Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
17.India Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
18.Japan Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
19.South Korea Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
20.South Africa Global Selenium-rich Agricultural Products Market Revenue, 2023-2030 ($M)
21.North America Global Selenium-rich Agricultural Products By Application
22.South America Global Selenium-rich Agricultural Products By Application
23.Europe Global Selenium-rich Agricultural Products By Application
24.APAC Global Selenium-rich Agricultural Products By Application
25.MENA Global Selenium-rich Agricultural Products By Application