Feed Acidulants Market Size, Share, Market Dynamics, and Forecast - 2028
The global feed acidulants market is estimated to be valued at USD 3.4 billion in 2023. It is projected to reach USD 4.7 billion by 2028, recording a CAGR of 6.2% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global feed acidulants market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumption of animal-based food, demand for a high protein diet, changing lifestyles, and consumption patterns drive the demand in the feed acidulants market.
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Market Dynamics
Drivers: High threat of disease in livestock
The high threat of disease in livestock has been a major driving force behind the growth of the feed acidulants market. Livestock are susceptible to a range of diseases, including bacterial infections, viral infections, and parasitic infestations, which can result in significant economic losses for farmers and the wider agricultural industry. Feed acidulants are effective in reducing the risk of disease in livestock by creating a more acidic environment in the gut, which can inhibit the growth of harmful microorganisms. This has led to increased demand for feed acidulants as a preventative measure to protect livestock health and improve productivity. The feed acidulants market is expected to continue to grow as farmers seek new ways to improve animal health and welfare and ensure the safety and quality of animal products for consumers.
Restraints: Increasing prices of feed acidulants
The feed acidulants market has been experiencing steady growth over the past few years, driven by the increasing demand for animal protein and the need to improve feed efficiency and animal health. However, one major factor that is limiting the growth of this market is the rising prices of feed acidulants. Feed acidulants are widely used in animal feed to promote digestion and prevent the growth of harmful bacteria in the gut. They are typically made from organic acids such as formic acid, propionic acid, and lactic acid. However, the prices of these acids have been steadily increasing due to several factors, including raw material costs, transportation costs, and regulatory pressures. As a result, the cost of feed acidulants has risen significantly, which has made it more difficult for farmers to afford them. This has led to a slowdown in the growth of the feed acidulants market, as many farmers are now looking for alternative solutions that are more cost-effective.
Opportunities: Innovation in encapsulation used in feed acidulants
The encapsulation process presents significant opportunities for the feed acidulants market, as it offers several benefits such as improved stability, controlled release, and targeted delivery. Encapsulation is the process of enclosing a substance within a protective shell or coating, which can protect the substance from degradation or damage and control its release. In the feed acidulants market, encapsulation can be used to protect organic acids from degradation in the feed or gut and to deliver them more effectively to the target site. This can improve the efficacy of the acidulants, reduce dosage requirements, and lower overall costs.
Challenges: Efficacy maintenance in feed acidulants
The major challenge in maintaining the efficacy of feed acidulants is their susceptibility to degradation in the feed or gut. Organic acids such as formic acid, propionic acid, and lactic acid can be rapidly degraded by microbial activity in the gut, which can reduce their effectiveness in controlling bacterial growth and promoting digestion. This can result in reduced animal performance and increased susceptibility to disease. To maintain the efficacy of feed acidulants, it is important to optimize their dosage and delivery methods and to ensure that they are protected from degradation in the feed or gut. Overall, addressing the challenge of maintaining the efficacy of feed acidulants is crucial for ensuring their continued use in animal feed and improving animal health and performance.
Feed Acidulants Market Segmentation
By Type
By Compound
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By Form
By Function
By Animal Type
By Region
The pH control by function is the fastest-growing segment in the feed acidulants market
Feed acidulants are used to lower the pH of animal feed, which can improve nutrient availability, reduce microbial growth, and prevent spoilage. The pH control property of feed acidulants is critical in maintaining the overall health and well-being of animals, as well as the quality of their feed. Factors such as increasing animal health concerns, the rising demand for animal protein, and the implementation of regulations regarding the use of antibiotics in animal feed are driving the growth of the market.
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Asia Pacific is estimated to dominate the feed acidulants market
Asia Pacific holds the largest market share in the feed acidulants market. The growing focus on improving animal health and welfare is the key factor driving the market growth in this region. Additionally, the adoption of advanced feed technologies and the availability of cost-effective feed acidulant solutions are also contributing to the growth of the market in the Asia Pacific. Furthermore, the presence of major feed acidulant manufacturers in the region and the increasing investments in the animal feed industry is expected to further drive the market growth.
Recently, several companies in Asia Pacific have announced strategic partnerships to expand their presence in the feed acidulants market. In 2021, Renata has been appointed as the sole distributor for Nutrex feed additives in Bangladesh. Nutrex and Renata aim to provide farmers with high-value feed additives that will help them maximize animal performance through optimal digestion and gut health.
The key players in this market include BASF SE (Germany), Yara (Norway), Kemin Industries Inc. (US), Eastman Chemical Company (US), and DSM (Netherlands).