Feed Acidulants Market Business Opportunities, Current Trends, Growth by Top Companies and Global Industry By 2023
Feed acidulants are additives mixed in animal feed to impart flavor. They are also used as preservatives to inhibit the growth of mold in feed. Such additives increase the acidity of the product. These organic acids are emerging as an effective substitute for antibiotics in animal feed. In the US and Europe, a ban on the use of antibiotics in feed is one of the major determinants that is driving the growth of the feed acidulants market. Additionally, the rapid growth of the aquaculture industry due to the rising consumption of seafood is boosting the sales of acidulants for aquaculture feed.
The global feed acidulants market has been segmented by type, form, and application.
Based on type, the global feed acidulants market has been segmented into lactic acid, formic acid, propionic acid, malic acid, citric acid, sorbic acid, acetic acid, and others. The propionic acid segment is projected to be the largest during the assessment period due to the widespread use of propionic acid as a feed preservative in animal feed. It is a generally recognized as safe (GRAS) ingredient that helps in inhibiting mold growth in feed. However, the formic acid segment is expected to register the highest CAGR during the forecast period owing to its multiple functionalities. It acts as a preservative, ensiling agent, and acidifier which helps in improving feed efficacy.
By form, the global feed acidulants market has been categorized as dry and liquid. The dry segment is projected to garner the larger revenue share and register the higher growth rate during the forecast period as the dry product offers convenience of use, packaging, transportation, and storage. Additionally, the majority of market players offer feed acidulants in dry form as it provides consistency in feed.
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The global feed acidulants market has been segregated, by application, into ruminants, poultry, swine, aquaculture, and others. The poultry segment is expected to be dominant during the review period owing to the high consumption of additives in poultry feed. However, the aquaculture segment is expected to register the highest growth rate during the forecast period due to the surging demand for aquaculture feed.
Some of the key players in the global feed acidulants market are-
- Jefo Nutrition Inc. (Canada)
- BASF SE (Germany)
- Novus International (US)
- Yara (Norway)
- Kemin Industries Inc. (US)
- Kemira Oyj (Finland)
- Peterlabs Holding (Malaysia)
- Biomin Holding GmbH (Austria)
- Anpario plc (UK)
- Nutrex NV (Belgium)
- Tate & Lyle (UK)
The global feed acidulants market has been segmented on the basis of type, form, application, and region.
By type, the global feed acidulants market has been classified as lactic acid, formic acid, propionic acid, malic acid, citric acid, sorbic acid, acetic acid, and others.
By form, the global feed acidulants market has been categorized as dry and liquid.
The global feed acidulants market has also been divided, on the basis of application, into ruminants, poultry, swine, aquaculture, and others.
The global Feed Acidulants Market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, the rest of the world.
Asia-Pacific is projected to dominate the global feed acidulants market and the regional market is projected to register the highest CAGR during the forecast period owing to the increasing production and consumption of animal feed in the region. India, Japan, China, and Thailand are the major contributors to market growth in the region.