Feed acidifiers are increasingly being incorporated into the feed since they help in controlling microbial growth and enhancing the digestibility of nutrients, thereby improving the overall health of animals. Increasing awareness about feed safety and animal health, especially in North America and Europe has also boosted the demand for feed acidifiers. Owing to these advantages, the worldwide market for feed acidifiers is witnessing a steady growth, with the market expected to flourish in the APAC region in the coming years.
Market overview
The global feed acidifiers market that was valued at USD 1.43 Billion in 2015 is expected to grow at a CAGR of 6.3% over the forecast period from 2016 to 2021, reaching a value of USD 2.05 Billion by 2021.
Based on type, the propionic acid segment holds the largest market share, and is also expected to grow at the highest CAGR over the forecast period as well. This growth is mainly because of the increased usage of propionic acid as feed additive in animal nutrition and also as a substitute for antibiotic growth promoters that have been banned as feed additives in European Union since 2006.
On the basis of livestock, the poultry segment held the largest market share in 2015, and is also the fastest-growing segment in the livestock industry. This growth can be attributed to the growing demand for poultry worldwide, especially in developing regions like Asia. Moreover, the production of poultry has become more intensive and vertically integrated, owing to the advancements in technology and emerging economies.
Based on form, the blend acidifiers segment is projected to witness the highest growth over the forecast period, since blend acidifiers are highly influential in increasing the feed intake in animals.
Which region is expected to be the leading market, and why?
The market for feed acidifiers in the Asia-Pacific region is expected to witness the highest growth, owing to the rising demand for natural meat and emerging economies, along with growing health concerns and increased negative effect of synthetic feed for livestock. Moreover, growing demand for nutritive feed and sustainable animal nutrition products, increased number of livestock, and management of feed operating cost are boosting the growth of the global feed acidifiers market in this region.
What are the factors influencing the growth of this market?
The global market for feed acidifiers is experiencing steady growth, mainly due to the following factors:
- Advancing animal feed industry
- Growing demand for livestock products
- Increasing awareness regarding animal health and feed quality
- Ban of antibiotics by European Union (EU)
In addition, immense growth potential in emerging economies and encapsulations and coatings are the others expected to further offer ample growth opportunities to the market.
On the flip side, increasing cost of feed ingredients and use of artificial growth-inducing hormones and drugs are the major factors that are likely to hinder the market growth.
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Key players and strategies adopted
BASF SE (Germany), Yara International ASA (Norway), BIOMIN Holding GmbH (Austria), Perstorp Holding AB (Sweden), and Kemin Industries, Inc. (Des Moines, Iowa, U.S.) are the major companies involved in the global market for feed acidifiers. These companies are implementing strategies such as expansions and new product developments in order to ensure their continuous growth in the market as well as expand their global presence.
