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.
However, some factors expected to hamper growth of feed acidulants market during the forecast period are soaring prices of feed acidulants and availability of better, and more cost-effective substitutes.
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.
- 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.
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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
- Others
Based on Animal Type (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Poultry
- Ruminants
- Swine
- Aquaculture
- Pets
- Equine
Based On Compound (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Blended
- Single
Based on Form (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Dry
- Liquid
Based On Function: (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- pH control
- Feed efficiency
- Flavor
Based On Region: (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Read the Latest Press Release: https://www.reportsanddata.com/press-release/global-feed-acidulants-market
Key questions answered by the report
- Who are the key market players in the global feed acidulants market?
- What CAGR is the global market expected to register throughout the forecast period?
- Which region is expected to dominate other regional markets in the global feed acidulants market?
- Based on animal type, which segment is to register the fastest revenue growth between 2021 2028?
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