The feed acidifiers market is estimated to be valued at USD 2.73 billion in 2018 and is projected to reach USD 3.50 billion by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by the growing government aids or funds in the feed industry and high threat of diseases among livestock.
Target Audience:
The stakeholders for the report are as follows:
- Regulatory bodies
- Intermediary suppliers such as traders, distributors, and suppliers of feed acidifiers and end products
- Feed manufacturers & suppliers
- Associations and industry bodies
- Feed acidifier manufacturers and suppliers
- Feed acidifier traders and distributors
- Commercial research & development (R&D) institutions
- Feed acidifier retailers
- Government and research organizations
- Technology providers to feed acidifier companies
Asia Pacific dominated the feed acidifiers market in 2018, as the region has also witnessed an increase in the number of feed mills and feed production, particularly in countries such as India, Japan, New Zealand, and Australia. The increasing demand for protein-rich livestock feed in New Zealand and Australia has led to growth in demand for feed acidifiers for better and enhanced quality of meat and dairy products. Additionally, milk production in the Asia Pacific region was more than 40% (or more than one-third of the total milk production in the world) in 2016. Being the largest region in terms of both volume and value, consumers belong to varied economic strata, with varying food habits and demands. The South American market is projected to grow at the highest CAGR from 2018 to 2023. Growth in South America can be attributed to factors such as growing meat and milk consumption, which probably assumes greater political and economic importance in South America than in any other region of the world. Poultry consumption has risen rapidly across the region. This increase is largely the result of improved technology (balanced feed, hybrid birds, sanitary control, and large-scale operations), which produced a better product at a lower cost. These factors have propelled the demand for better quality feed and feed additives for livestock, thereby improving meat productivity, and the productivity of their byproducts.
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Rising prices of feed acidifiers restrain the market growth. The trend of price increase has been observed for feed acidifiers, owing to which the market for these products has been hindered. Manufacturers of feed acidifiers are faced with rising product prices and diminishing supply, inducing market pressures that have led to the increase in price structures. For example, formic acid and propionic acid, which boast of a wide range of applications, including animal nutrition, have been experiencing a rise in consumption, thereby leading to a rise in their prices. Apart from being used as a feed preservative and acidifier, formic acid is also used in leather processing for the efficient fixing of dyes and acts as a re-tanning agent. Potassium formate, which is a salt of formic acid, is used as an environmentally acceptable de-icing agent, which is used on roads and airport runways. Additionally, both formic acid and potassium formate are used in the oilfield industry as a part of the drilling process and in shale gas exploration. Formic acid is also used as a descaling agent.
The global market for feed acidifiers is dominated by large-scale players such as 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 Purac (Netherlands), ADDCON Group (Germany), and Peterlabs holding (Malaysia) are other players that hold a significant share of the feed acidifiers market.
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