Feed Acidifiers Market Size, Share, Opportunities, And Trends By Livestock (Swine, Poultry, Aquatic, Cattle, Others), By Type (Propionic Acid, Lactic Acid, Fumaric Acid, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Feb 2023
- Report Code : KSI061610909
- Pages : 114
Feed Acidifiers Market is projected to witness a CAGR of 6.10% during the forecast period to reach a total market size of US$1.949 billion by 2023, increasing from US$1.366 billion in 2017. Feed acidifiers help in maintaining the low PH in livestock while preventing diseases, promoting homogenous blending, and activating the digestive enzymes of the feed. Increasing demand for livestock products due to the rapidly growing population, the rising spending power of consumers, and urbanizing societies are some of the major factors driving the need for feed acidifiers. Moreover, the ongoing advancements in the animal feed industry owing to continuous investments in R&D and greater government funding are further propelling the feed acidifier market growth. The ban on antibiotics in Europe and certain parts of the United States have provided opportunities for feed acidifier vendors. In addition, the rising concern about the quality of animal products due to increasing health concerns among consumers significantly contributes to the feed acidifier market growth. However, the presence of substitute technologies may restrain its market growth.
By livestock, the poultry sector is expected to grow at a high CAGR over the projected period. This growth is mainly driven by the rising consumption of poultry meat. According to USDA data, per capita consumption of poultry increased from 100.2 to 109.5 pounds between 2010 to 2017. This growth will be bolstered majorly due to increasing meat consumption in key developing countries of the Asia Pacific region. Moreover, the penetration of fast food restaurants offering poultry meat in food products will further drive this segment's growth.
Geographically, Asia Pacific is expected to grow at a high CAGR over the projected period primarily because of the demand generated by rapidly developing countries like India and China. Rising demand for livestock products owing to a rapidly growing population coupled with rising expenditure are major factors for the growth of the feed acidifier market. Other drivers include high demand for nutritive foods and nutritional animal products due to rising concerns among consumers regarding health and fitness.
The feed acidifiers market is well diversified as it has witnessed the emergence of numerous regional, local, and international players over the years. The competition is expected to intensify further due to several factors like product extension, technological innovations, and mergers and acquisitions. Large international players are increasingly focusing on acquiring small local or regional firms to strengthen their market reach and offering. The major players discussed in this report include BASF SE, Novus International, Yara International, Perstorp Holding, Kemin Industries, Biomin Holding, Impextraco, and Kamira OYJ.
The feed acidifiers market has been segmented by livestock, type, and geography.
- By Livestock
- By Type
- Propionic Acid
- Lactic Acid
- Fumaric Acid
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- South Africa
- Asia Pacific
- South Korea
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