NEW YORK, Jan. 21, 2019 /PRNewswire/ -- Ban on antibiotics in feed are expected to drive the overall growth of the feed acidulants market.
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The global feed acidulants market is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a CAGR of 5.1% during the forecast period. The feed acidulants market is driven by various factors such as growth in animal husbandry, increase in demand for feed and feed additives, rise in awareness among livestock rearers for animal nutrition value, and ban on antibiotics in feed as natural growth promoters. However, inefficiency in maintaining the potency of acidulants through the logistical chain due to volatility can hinder the growth of this market.
Formic acid is projected to grow at a highest CAGR during the forecast period, in terms of value.
The feed acidulants market has been categorized as propionic acid, formic acid, citric acid, lactic acid, sorbic acid, malic acid, acetic acid, and others.The formic acid segment is projected to grow at the highest CAGR during the forecast period.
Formic acid is a colorless liquid and remains soluble in water in almost all proportions.This characteristic of the acidifier enables its proper mixing in animal feed, thereby allowing consistent feed formulation.
While formic acid remains highly efficient in improving apparent total tract digestibility (ATTD) of protein, it also aids in improving feed efficiency. However, excessive usage of formic acid in animal feed could result in an increase in dietary acid levels, thereby reducing palatability and affecting feed intake negatively.
The poultry type segment is projected to hold a largest market share during the forecast period.
The feed acidulants market, by animal type, is estimated to be dominated by the poultry segment in 2018.It is also projected to grow at the highest rate through 2023.
Poultry meat is universally consumed and, unlike beef and pork, does not pose many religious concerns.The only part of the mineral requirement of poultry can be met by the natural feedstuffs in their diets resulting in the inclusion of feed supplements such as acidulants in feed formulations.
In poultry feed, acidulants are widely used as antibiotic growth promoters (AGP) to help improve poultry performance. These acidulants help in the maintenance of pH levels in the stomachs of poultry, thereby allowing correct activation and functioning of proteolytic enzymes.
Asia Pacific is projected to dominate the feed acidulants market during the forecast period.
Asia Pacific is projected to dominate the feed acidulants market during the forecast period.Emerging economies such as China, Japan, and India have favorable market potential for feed acidulants; this has led to feed and feed acidulant manufacturers, adopting strategies such as expansions and new product launches to cater to the growing demand for product differentiations to provide highly efficient additives such as feed acidulants, which are organic in nature and improve gut health in livestock.
Further, the increasing demand for meat has triggered meat production in the region, due to which the uptake of feed additives such as acidulants has increased and is expected to witness a strong growth rate.
There has been a rise in the demand for meat and meat products, in accordance with the demand for a protein-rich meat diet.Pork and poultry are largely consumed in the Asia Pacific region.
The demand for poultry is estimated to increase in India and China due to factors such as focus on meat quality and public health campaigns, which encourage the consumption of low-fat protein options.Fish consumption is also increasing in the region due to similar health trends.
On the other hand, there has been an increase in the production as well as consumption of dairy products in the region. These factors are expected to drive the feed acidulants market in the Asia Pacific region.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, livestock grow light manufacturers, and executives from various key organizations operating in the livestock grow lights Industries.
•By Company Type: Tier 1: 30%, Tier 2: 30%, and Tier 3: 40%
•By Designation: C-level Executives: 20%, Directors: 30%, and Managers: 50%
•By Region: North America: 15%, Europe: 15%, Asia Pacific: 30%, South America: 20% and RoW: 20%
The feed acidulants market comprises major solution providers such as BASF SE (Germany), Yara International ASA (Norway), Kemin Industries Inc. (US), Kemira OYJ (Finland), 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 NV (Netherlands), ADDCON Group (Germany), and Peterlabs Holding (Malaysia). The study includes an in-depth competitive analysis of these key players in the feed acidulants market, with their company profiles, recent developments, and the key market strategies.
The study covers the feed acidulants market across segments.It aims at estimating the market size and its growth potential across different segments such as type, animal type, compound, form, function, and region.
The study also includes an in-depth competitive analysis of the key players in the market; along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall feed acidulants market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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