USD 2.36 billion
Report ID: SQSG30C2028 | Region: Global | Published Date: April, 2023 | Pages: 250 | Tables: 124 | Figures: 77
Feed Acidulants Market size was valued at USD 2.36 billion in 2021 and is poised to grow from USD 2.52 billion in 2022 to USD 4.56 billion by 2030, growing at a CAGR of 6.85% in the forecast period (2023-2030).
Farm animals are given supplements in the form of feed additives. These chemicals make sure that the animals are properly nourished. Fatty acids, vitamins, amino acids, and minerals are examples of feed additives. The majority of these nutrients must come from an outside source because they are not found in the typical diet that these animals eat. Feed acidulants are a different class of additive that is applied to the feed. These acidulants are employed in a variety of sectors, including the food, beverage, pharmaceutical, medical, cosmetic, and animal feed industries. The main purpose of feed acidulants is to improve flavor and taste. Feed acidulants are added to the additives because they aid to improve the taste, serve as an antioxidant, and work well as a preservative. There are both organic and inorganic feed acidulants available. Due to the expansion of animal husbandry and the rising demand for feed additives, acidulants are creating a significant demand in animal feed.
US Feed Acidulants Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.36 billion
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The Global Feed Acidulants Market is segmented based on type, animal type, form, function, and region. Based on the type, the feed acidulants market is segmented into propionic acid, formic acid, citric acid, lactic acid, sorbic acid, malic acid, acetic acid, and other. Based on animal type, the feed acidulants market is segmented into poultry, ruminants, swine, aquaculture, and others. Based on the form, the market is segmented into dry and liquid. Based on the function, the market is segmented into pH control, feed efficiency, flavor, and others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Acidulants Market Analysis by Form
Based on the form, the feed acidulants market is segmented into dry and liquid. The dry feed acidulant segment of the market is projected to hold the most substantial share in the market during the forecast period. Dry feed acidulants are commonly utilized. Pellets, powder, and crumbled forms of dry feed are all readily accessible. Globally, it is manufactured and eaten in vast quantities. Due to its simplicity of use, storage, and transportation, the majority of feed additive manufacturers on the market only sell their feed acidulant in the dry form. Additionally, dry feed acidulants are frequently employed in animal diets since they are less expensive than liquid feed and require less upkeep. These reasons are expected to cause the category to increase its market share during the forecast period.
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The Asia Pacific accounted for the largest feed acidulants market share and is expected to remain the leading consumer of Feed Acidulants in the coming years. The heavy reliance on animal-based food products in dietary patterns in developing countries is a major driving force. The livestock have been under increasing pressure to produce more with less inputs. The market for feed acidulants is dominated by the Asia Pacific area, which is also seeing increased growth in the production of feed and feed additives. The demand for meat and dairy products is expected to rise as a result of the region's rapid economic development in nations like China, India, Japan, and Thailand for both local consumption and exports. For better and higher-quality meat and dairy products, New Zealand and Australia's growing livestock feed consumption has increased the need for feed acidulants. Additionally, the Asia-Pacific region produced more milk than 40% of the world's total. Despite being the largest region in terms of volume and value, consumers come from different economic tiers and have different eating patterns.
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Feed Acidulants Market Driver
Feed Acidulants Market Restraint
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The feed acidulants market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Feed Acidulants Market Top Players' Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, based on the type, the propionic acid segment is projected to hold the most substantial share in the feed acidulants market. Based on the animal type, the poultry segment is projected to hold the most substantial share in the market. Based on the form, the dry segment is projected to hold the most substantial share in the market. Based on the function, the pH control segment is projected to hold the most substantial share in the market. Whereas, based on the region, the Asia-Pacific region is projected to hold the most substantial share in the market.
|Market size value in 2021||USD 2.36 billion|
|Market size value in 2030||USD 2.52 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Feed Acidulants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Feed Acidulants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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