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Feed Acidifiers Market Expected to Reach $3.50 Billion by 2023
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 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% during the forecast period. The market is driven by the growing government aids or funds in the feed industry and high threat of diseases among livestock.
The periodization considered for the study is as follows:
- Base year: 2017
- Forecast period: 2018 to 2023
The propionic acid segment is projected to be the largest during the forecast period
The feed acidifiers market, by type, is estimated to be dominated by the propionic acid segment. Propionic acid is widely used as a dietary supplement and as a source of nutrition. Propionic acid is also used in the ensiling process for poultry feed, as it improves silage production and provides aerobic stability in silage. It also helps curb bacterial growth in molds, and hence, can also be used as a preservative in animal feed. The preservative effect of propionic acid thereby aids the prevention of feed nutrient losses and mycotoxin formation.
The dry segment is estimated to dominate the market in 2018
The dry segment, by from, is projected to dominate the market during the forecast period. Most companies in the feed acidifiers market offer their products in the dry form, due to its ease of usage, storage, and transportability. These products are widely used in feed formulations due to their free-flowing structure and their ability to provide consistency. Such factors are expected to drive the market for the dry form of feed acidifiers during the forecast period.
The blended segment set to dominate the market by 2023
The blended market, by compound, is projected to be dominated by the blended segment and is also projected to grow at a higher rate during the forecast period. Blended acidifier compounds help reduce the presence of harmful microorganisms in feed in addition to promoting beneficial microbial growth in the gut. Conversely, the addition of antibiotics inhibits the growth of any microorganisms, even if they are beneficial to livestock.
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South America is projected to be the fastest-growing market during the forecast period
The South American market is projected to grow at the highest CAGR from 2018 to 2023. This growth is attributable to the development of the animal husbandry sector in the region that has promoted an increase in the consumption of feed additives such as acidifiers, rising income levels in emerging economies such as Brazil and Argentina which is supporting consumer inclination to better quality meat and other livestock products, rising demand for South American meat.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as 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 other players that hold a significant share in the feed acidifiers market.
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