CHICAGO, January 14, 2019 /PRNewswire/ --
According to the new market research report "Feed Acidulants Market by Type (Propionic Acid, Formic Acid, Citric Acid, Lactic Acid, Sorbic Acid, Malic Acid, and Acetic Acid), Animal Type (Poultry, Ruminants, Swine, Aquaculture, Pets, and Equine), Compound, Form, and Region-Global Forecast to 2023", published by MarketsandMarkets, the Feed Acidulants Market is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by the rising consumption of meat and dairy products, the high threat of diseases in livestock, and the ban of antibiotics in the European Union (EU).
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The propionic acid segment is projected to grow at the highest CAGR in the global feed acidulants market during the forecast period.
The feed acidulants market has been segmented, on the basis of type, into eight major categories: propionic acid, formic acid, citric acid, lactic acid, sorbic acid, malic acid, acetic acid, and others. 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 growing demand for feed preservation without affecting the natural properties of the feed is driving this market.
Browse in-depth TOC on "Feed Acidulants Market"
214 - Tables
43 - Figures
213 - Pages
The dry segment, by form, is estimated to dominate the market in 2018.
The dry segment is projected to dominate the market during the forecast period. Most companies in the feed acidulants 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 acidulants during the forecast period.
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South America is projected to grow at the highest CAGR during the forecast period.
The market in South America is estimated to grow at the highest CAGR in the market during the forecast period. 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 acidulants; 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 meat from this region.
Major vendors in the feed acidulants market include 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 NV (Netherlands), ADDCON Group (Germany), and Peterlabs Holding (Malaysia) are other players that hold a significant share in the feed acidulants market.
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