Feed Acidulants Market Overview
The escalation in animal feed demand due to increased livestock rearing is estimated to boost the feed acidulants market. The agriculture reports are made by Market Research Future, which includes market choices for advance. A promising CAGR is estimated to promote the global market in the coming period. Feed acidulants market is projected to register a CAGR of 6.80% and reach a value of USD 4.56 billion by 2030. Feed acidulants are substances that are added to animal feed to enhance flavour, consistency, shelf life, and solubility rate. They act as buffer components in feed formulations by lowering the pH level and enhancing feed solubility. The global feed acidulants market share is expected to register a significant growth rate during the forecast period owing to the high consumption of animal-based products, increasing awareness regarding the importance of healthy livestock feed, and government initiatives to promote the animal feed industry. However, the rising prices of feed acidulants are hampering the growth of the market.
Segmental Analysis
The segmental examination of the feed acidulants market has been conducted based on type, form, application, and region. Based on form, the feed acidulants market has also been bifurcated into dry and liquid. Based on application, the feed acidulants industry has been segmented into aquaculture, swine, ruminants, poultry, and others. Based on regions, the feed acidulants market has been segmented into North America, Europe, Asia Pacific, and other notable regions. Based on type, the feed acidulants market has been segmented into acetic acid, formic acid, sorbic acid, propionic acid, lactic acid, malic acid, citric acid, and others.
Detailed Regional Analysis
The regional review of the feed acidulants market has been segmented into regions such as North America, Europe, Asia Pacific, and other notable regions. The Asia Pacific feed acidulants regional industry is anticipated to govern the global market, and the regional market is anticipated to record the maximum CAGR all through the forecast period. The collective manufacture and intake of animal feed in the region is estimated to enhance the global market in the forecast period. Japan, China, India, and Thailand are estimated to be the foremost contributors to feed acidulants market development in the region. In the US and Europe, the Covid-19 analysis finds that ban on the use of antibiotics in feed is one of the major determinants that is driving the growth of the feed acidulants market report.
Competitive Analysis
The emergence of significant trends in this period is likely to define the augmentation of the global market in the upcoming period. The policies established in the different regional markets are projected to spur the market in the approaching period. The industry is appraised to return to normal realistically in the upcoming months, with market front runners controlling the charge for transformation. The conditions in the market are assessed to be austere at first but are predicted to recover in the forthcoming years. The advances being generated in the market can encapsulate a large part of the market in the span of the forecast period. The enhanced delivery channels are anticipated to generate a novel level in the market by shortening lead times. This is likely to impact the long-term progress of the global feed acidulants market trends in the future. The technological evolution in the market is estimated to further promote the options for evolution in the forecast period.
The distinguished companies in the Market outlook are Novus International (US), Kemira Oyj (Finland), Yara (Norway), Kemin Industries Inc. (US), Biomin Holding GmbH (Austria), Nutrex NV (Belgium), Jefo Nutrition Inc. (Canada), Peterlabs Holding (Malaysia), Anpario plc (UK), BASF SE (Germany), and Tate & Lyle (UK).
Industry Updates:
Apr 2020 Perstorp, a Swedish chemical and feed additives supplier, recently announced that it is considering to address the sanitizer scarcity in Sweden by repurposing some of its manufacturing to that end. The firm has transformed a portion of the manufacture at its plant in the city of Perstorp in Sweden to manufacture hand sanitizer and surface disinfectant. The products are being sold at cost price.
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