Feed Acidifiers Market Size, Growth Prospects, Development Status, Emerging Technologies, Forecast to 2024
Market Overview
Increasing demand for animal feed products with high protein content is driving the growth of the feed acidifiers market. Furthermore, advance processing methods & technologies, and high opportunities in the developing countries are positively supporting the market growth. The market players are responding to these new opportunities by expanding their product offerings, which has boosted the share of feed acidifiers in the global market.
The Global Feed Acidifiers Market Size is projected to expand by increasing awareness regarding available health benefits to the animals from the feed acidifiers. Increased awareness about the feed acidifiers has raised the feed quality, which, in turn, has increased the share of global feed acidifiers market.
Rising health concerns is one of the major factors contributing to the growth of the global feed acidifiers market. With the growing consumer awareness and their increasing interest in healthy lifestyle, the demand for feed acidifiers has increased to great extent. However, fluctuating prices of raw material and availability of economical alternatives of feed acidifiers may hamper the market growth over the review period.
Downstream analysis
The feed acidifiers market is segmented into type, livestock, and form.
Based on the type, it is segmented into formic acid, acetic acid, propionic acid, lactic acid, fumaric acid, citric acid, and others. Among all, the propionic acid segment is dominating the market.
Based on the livestock, it is segmented into swine, poultry, ruminants, aquatic animals, and others. Among all, the poultry segment is dominating the market.
Based on the form, it is segmented into dry, liquid, and others. The dry form segment is dominating the market due to its ease of handling and easy feed intake by animals.
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Competitive analysis:
The major players in the feed acidifiers market
- BIOMIN Holding GmbH (Austria)
- Kemin Europa NV (Belgium)
- BASF SE (U.S.)
- Novus International, Inc. (U.S.)
- Corbion N.V. (the Netherlands)
- Impextraco NV (Belgium)
- Jefo Nutrition Inc. (Canada)
- Kemira OYJ (Finland)
- Perstorp Holding AB (Sweden)
- Yara International ASA (Norway)
Regional Analysis
The global feed acidifiers market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The European region is dominating the feed acidifiers market followed by the Asia Pacific owing to rising population followed by increasing consumption of poultry and meat products in developing regions. Moreover, China is the major exporter of poultry and meat, which, in turn, drives the market of feed acidifiers in the Asia Pacific region.
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Key players in the feed acidifiers market are largely located in Europe. Additionally, key players are following the strategies of mergers and acquisitions with small players to expand their business in other regions due to increasing demand for nutritive feed, which, in turn, has uplifted the growth of feed acidifiers market.
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