Increasing demand for quality meat, growing consumption of diary and meat products along with government initiatives and funding for animal feed industry are key factors boosting growth of the feed acidulants market
Market size: USD 3.01 in 2020, Market Growth: CAGR of 5.5%, Market Trends: Ban on antibiotics by EU has resulted in increased demand for feed acidulants
The global feed acidulants market size is expected to reach USD 4.5 billion by 2028 and register a CAGR of 5.5% over the forecast period, according to the latest report by Reports and Data. Increasing awareness about the importance of healthy livestock, benefits of feed acidulants, and government initiatives to promote growth of the feed sector are some key factors driving market revenue growth to a significant extent currently.
Feed acidulants are organic or inorganic substances usually added to animal feed to enhance the quality by minimizing presence of harmful bacteria and to help in improving overall health and performance of animals. These products also help in increasing shelf life, flavor, and to balance the pH levels of animal feed. Increasing focus on animal health and gradual inclination towards natural growth promoters are other key factors fueling market growth. In addition, factors such as increasing consumption of animal-based products and rising demand for high-quality meat are contributing to market growth.
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BASF SE (Germany), Yara International ASA (Norway), Kemin Industries Inc. (US), Kemira OYJ (Finland), and Biomin Holding GmbH (Austria). Impextraco NV (Belgium), Pancosma (Switzerland), Nutrex NV (Belgium), Perstorp Holding Ab (Sweden), Novus International (US), Jefo Nutrition Inc. (Canada), Anpario plc (UK), Corbion Purac (Netherlands), ADDCON Group (Germany), and Peterlabs holding (Malaysia) are some major players in the global feed acidulants market.
Some key highlights from the report:
- On the basis of type, the formic acid segment revenue is expected to account for largest share as compared to other type segments during the forecast period. High demand for formic acid is attributed to easy mixing and ability to enhance the feed efficacy.
- Based on the form, the dry form segment is projected to account for robust revenue growth throughout the forecast period owing to favorable properties such as easy storage, longer shelf life, and cost-effectiveness.
- In context to function, the pH control segment is expected to register a significant CAGR between 2021 and 2028 attributing to growing awareness for maintaining animal diet.
- On the basis of animal type, the poultry segment accounted for largest revenue share in 2020 and is projected to maintain its leading position over the forecast period owing to high consumption rate of poultry and poultry products across the world and growing demand for high-quality poultry meat.
- Asia Pacific market revenue is expected to expand at a CAGR of 4.5% during the forecast period. High revenue growth is attributed to factors such as advancements in feed industry and rising consumption of meat and dairy products in India, China, Japan, and Thailand.
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Based On Type (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
- Propionic Acid
- Formic Acid
- Citric Acid
- Lactic Acid
- Sorbic Acid
- Malic Acid
- Acetic Acid
- Fumaric Acid
- Tartaric Acid
- Butyric Acid
- Benzoic Acid
Based on Animal Type (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
Based On Compound (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
Based on Form (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
Based On Function: (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
- pH control
- Feed efficiency
Based On Region: (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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The research provides answers to the following key questions:
- What will be the market size and growth rate of the Feed Acidulants market for the forecast period 2018-2028 across different regions?
- What are the key driving forces expected to shape the future of the industry worldwide?
- What strategies are the prominent vendors adapting to stay ahead of their competitors?
- Which major trends are impacting the development of the Feed Acidulants Market Worldwide?
- Which factors can hinder, challenge or even restrict the expansion of the Feed Acidulants market worldwide?
- What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2018 – 2028?
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