Market Analysis
Global Feed Acidifiers Market is expected to garner a revenue of USD 3.6 billion by 2024, with a CAGR of 5% during the Forecast Period from 2019 to 2024. Feed acidifiers are used to lower the pH of feed, which helps in inhibiting the growth of pathogenic intestinal micro-organisms. Feed acidifiers also improve the feed performance when added, as they offer additional nutrients to the animal feed. The most common acidifier used in feed are formic acid, acetic acid, propionic acid, lactic acid, fumaric acid, citric acid, and many others.
Rising health concerns is one of the major factors supporting to the growth of the market at global level. With the rising consumer awareness and their growing concern in healthy lifestyle, the demand for feed acidifiers has increased to great level. Though, fluctuating prices of raw material and accessibility of economical substitutes of feed acidifiers may hinder the market growth over the review period. Increased consciousness about the feed acidifiers has raised the feed quality, which has increased the sales of global feed acidifiers market. In addition to the change in consumption pattern, increasing meat consumption, and the deterrence of diseases in livestock are expected to boost the global feed acidifiers market.
Growing demand for animal feed which contains high protein and other vital ingredients is driving the growth of the feed acidifiers market. Moreover, improvement in processing methods & technologies, and growing opportunities in the developing economies are influencing growth of the market. Major players are expanding their geographical presence, which has supporting the growth of feed acidifiers market. Moreover, feed acidifiers market is witnessing significant growth due to increasing application in feed industry. Rising demand of nutritious animal feed owing to application in various animal feed products is driving the market for food adiculants market.
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Major Key Players
Key players are focusing on new product development in order to improve the customer base. Apart from that, the key manufacturers are doing partnership with various research institutes to develop more products to fulfill increasing market demand.
The key players profiled in feed acidifier market report are BIOMIN Holding GmbH (Austria), Kemin Europa NV (Belgium), BASF SE (U.S.), Novus International, Inc. (U.S.), Corbion N.V. (the Netherlands), Impextraco NV (Belgium), Jefo Nutrition Inc. (Canada), Kemira OYJ (Finland), Perstorp Holding AB (Sweden), and Yara International ASA (Norway) among many others.
Market Segments
Global Feed Acidifier Market has been divided into type, livestock, form, and region.
On The Basis of Type: formic acid, acetic acid, propionic acid, lactic acid, fumaric acid, and citric acid
On The Basis of Livestock: swine, poultry, ruminants, aquatic animals, and others
On The Basis of Form: dry, and liquid
On The Basis of Region: North America, Europe, Asia Pacific, and ROW.
Regional Analysis
Global Feed Acidifiers Market is segmented into the Europe, North America, Asia Pacific, and rest of the world (RoW). The European region is dominating the feed acidifiers market followed by the Asia Pacific owing to rising population followed by increasing consumption of poultry and meat products in developing regions. Moreover, China is the major exporter of poultry and meat, which, in turn, drives the market of feed acidifiers in the Asia Pacific region. Key players in the feed acidifiers market are largely located in Europe. Additionally, key players are following the strategies of mergers and acquisitions with small players to expand their business in other regions due to increasing demand for nutritive feed, which, in turn, has uplifted the growth of feed acidifiers market.
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