Feed Acidulants Market Scenario
Feed acidulants can be described as substances that are added to the animal feed to enhance flavor, improve consistency, extend shelf life, and solubility rate. Its application controls the pH level and enhances feed solubility to make sure that the animal feed has a proper balance. The global feed acidulants market would gain an impressive CAGR with increasing consumption of animal-based products and growing demand for healthy livestock feed between 2018 to 2023, which Market Research Future (MRFR) acknowledges as the forecast period. Various governments are also trying to promote the demand for feed acidulants. But its growing price can impact market growth.
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The market would gain further growth opportunities from various companies who are investing substantially to inspire better innovations. These innovations can make sure that the market gets better expansion scope. In addition, the need for feed acidulants in beverages can increase the opportunities. Demand for acidulants in food preservation can also cover better grounds and generate high revenues.
BASF SE (Germany), Jefo Nutrition Inc. (Canada), Yara (Norway), Novus International (US), Kemira Oyj (Finland), Kemin Industries Inc. (US), Nutrex NV (Belgium), Peterlabs Holding (Malaysia), Anpario plc (UK), Biomin Holding GmbH (Austria), and Tate & Lyle (UK) are major influencers of the global feed acidulants market. MRFR registered these companies to get a better understanding of several trends that can make an impact on the market. MRFR records these latest changes to make sure that the profiling help in devising strategies that can impact the market.
In June 2019, Bartek announced that they are going to commemorate their 50th anniversary by changing their marketing strategy where they would spend more on their branding. The company has also made a significant investment in expanding its production capacity of malic acid.
The global market for feed acidulants has been segmented in the report by MRFR on the basis of their type, form, and application. These three segments have covered various dynamics of the market that can impact the growth.
By Type, the global market for feed acidulants can be segmented into formic acid, lactic acid, malic acid, propionic acid, sorbic acid, acetic acid, citric acid, and others. The propionic acid segment has a widespread application as feed preservative in animal feed owing to which it is expected to dominate the market. However, the formic acid segment has the chance to record the highest CAGR during the review period.
By Form, the global feed acidulants market has been segmented into dry and liquid. The dry segment has a larger market share as its inclusion in the transportation, packaging, and storage is going to impact the growth. In fact, most of the market players prefer acidulants in this format.
By Application, the segmentation in the report on the global feed acidulants market includes poultry, ruminants, aquaculture, swine, and others. The poultry segment has the chance to dominate the market as the growing need for meat is pushing the poultry segment ahead. The aquaculture segment has the maximum market growth possibilities.
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Asia Pacific has the opportunity to increase its market dominance in the coming years as the regional consumption of meat has grown multifold. Countries like China, Japan, India, and Thailand have impacted market growth. There are several other factors that can be beneficial for the market like the availability of raw materials and a huge population. In North America and Europe, this growth would definitely score big as the regional markets have the chance to benefit from better investment capacity and structural benefits. Also, the research and development sector can promote the market in a better way.
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