“The feed acidifiers market is projected to grow at a CAGR of 5.1%.”
The feed acidifiers market is estimated to be valued at USD 2.73 billion in 2018 and is projected to reach USD 3.50 billion by 2023, at a CAGR of 5.1%. The market is driven by the increasing consumption of meat and dairy products, the high threat of diseases in livestock, and the ban on antibiotics in the European Union (EU). The rising prices of feed acidifiers restrain market growth.
“Formic acid is projected to be the fastest-growing segment, in terms of types of feed acidifiers from 2018 to 2023.”
The formic acid segment is projected to grow at the highest CAGR during the forecast period. Formic acid is a colorless fuming 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 ATTD (apparent total tract digestibility) 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 segment is projected to be relatively large & fast-growing for feed acidifiers from 2018 to 2023.”
The feed acidifiers market, by livestock, is estimated to be dominated by the poultry segment in 2018. It is also projected to grow at a higher rate through 2023. Poultry meat is universally consumed and, unlike beef and pork, does not pose many religious concerns. 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 acidifiers in feed formulations. In poultry feed, acidifiers are widely used as antibiotic growth promoters (AGP) to help improve poultry performance. These acidifiers help in the maintenance of pH levels in the stomachs of poultry, thereby allowing correct activation and functioning of proteolytic enzymes.
“Asia Pacific is set to lead the feed acidifiers market with the largest share in 2018.”
The Asia Pacific market is estimated to be the largest in 2018; with rapid economic growth in the region, the demand for meat is rising, especially in countries such as China, India, Japan, and Thailand, for both domestic consumption as well as exports. This increased demand for meat has triggered meat production in the region, due to which the uptake of feed additives such as acidifiers has increased and is expected to witness a healthy 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 acidifiers market in the Asia Pacific region.
The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:
By Company Type: Tier 1: 33%, Tier 2: 28%, and Tier 3: 39%
By Designation: C-level: 49%, D-level: 21%, and Others: 30%
By Region: North America: 25%, Europe: 30%, Asia Pacific: 40%, and RoW: 5%
Key feed acidifiers manufacturing players include the following:
• 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 Purac (Netherlands)
• ADDCON Group (Germany)
• Peterlabs Holding (Malaysia)
The key players in the feed acidifiers market adopted expansion as their key growth strategy to increase their market share and profits. Acquisitions accounted for the second-most important strategy to be adopted by market players.
The report analyzes the feed acidifiers market across different types and regions. It aims at estimating the size and future growth potential of this market across different segments such as type, form, compound, livestock, and region. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons to buy this report:
• To get a comprehensive overview of the global feed acidifiers market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions in which the feed acidifiers market is flourishing