The global feed acidifiers market size was USD 1.8 billion in 2018 and is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for protein-rich foods including meat and dairy products owing to increasing occurrence of nutritional deficiencies among livestock and ban of antibiotics.
Feed acidifiers refer to the type of additives which are used to enhance the nutrients, increase the chances of prevention of diseases and help in the digestion of feed. These additives lower the pH of the feed in the livestock activating digestive enzymes, preventing diseases, and aiding the homogenous blending of the feed. Furthermore, they also substitute the effects of certain antibiotics. These benefits along with preference in quality, rising awareness, and concerns about the health of livestock have driven the growth of the acidifiers market.
The Covid-19 pandemic had an adverse impact on the feed acidifiers market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing effectiveness in improving nutrient digestibility and energy value of broilers are estimated to drive the market during the forecast period.
- Growing awareness for improving animal feed quality along with increasing demand for high nutritional additives is expected to spur the market growth in coming years.
- Rising requirements for healthy livestock due to increasing animal disease outbreaks such as avian flu, swine flu, and bird flu is anticipated to fuel feed acidifiers to demand in near future.
- The feed additives market bans several multivitamins and antibiotics by regulatory agencies USDA, FDA, and REACH. Ceasing these feed additives has elevated the penetration of acidifiers in the feed market and is projected to boost the market.
- R&D investment and technological advancement in feed acidifiers market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the global feed acidifiers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Feed Acidifiers Market –Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Type (Lactic acid, Propionic acid, Fumaric acid, and others) and Animal (Ruminant, Poultry, Swine, Aquaculture, and Others)
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Geography
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North America, Europe, Asia-Pacific, South America, and Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE, NOVUS INTERNATIONAL, Kemin Industries Inc, Biomin, and Corbion
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Market Segment insights
The propionic acid segment is projected to constitute a large market share
Based on type, the global feed acidifiers market is segregated into lactic acid, propionic acid, fumaric acid, and others. The propionic acid segment is expected to account for a key share of the market during the forecast period owing to factors such as abundant availability of propionic acid coupled with adequate supply in the market; however, fumaric acid segment is anticipated to expand at a rapid pace during the forecast period owing to growing awareness among manufacturers over various advantages of fumaric acid over its competitors.
The poultry segment is expected to register a substantial CAGR
Based on animals, the market is divided into ruminant, poultry, swine, aquaculture, and others. The poultry segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to increasing demand of poultry meat supplemented by the consumption of processed poultry.
Increasing demand for meat products in emerging markets with rising awareness regarding livestock health is expected to drive the market.
Asia Pacific is expected to dominate the market
In terms of geography, the market is broadly classified into North America, Europe, Asia-Pacific, South America, and Africa. The market in Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. Rising meat consumption and a growing population in this region are expected to drive the market growth in near future. Additionally, feed is the most crucial component to ensure the sustainable production of affordable and safe animal proteins for the generation of healthy meat in the region which is likely to drive the market growth.
Segments
The global feed acidifiers market has been segmented on the basis of:-
Type
- Lactic acid
- Propionic acid
- Fumaric acid
- Others
Animal
- Ruminant
- Poultry
- Swine
- Aquaculture
- Others
Geography
- North America
- Europe
- Asia-Pacific
- South America
- Africa
Key Companies
- BASF SE
- NOVUS INTERNATIONAL
- Kemin Industries. Inc
- Biomin
- Corbion
Competitive Landscape
Key players competing in the global feed acidifiers market includes BASF SE, NOVUS INTERNATIONAL, Kemin Industries Inc, Biomin, and Corbion.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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