Feed Acidifiers Global Market Report 2024: Helping the Livestock Industry Thrive
Feed Acidifiers Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has the Market Trend Been for Feed Acidifiers?
The feed acidifiers market size has seen significant growth in recent years, expanding from $2.69 billion in 2023 to $2.91 billion in 2024. This represents a compound annual growth rate CAGR of 8.5%. Various factors have contributed to the growth in the historic period, including expansion in the livestock industry, disease control measures, reduction in antibiotic use, improved feed conversion rates, and regulatory compliance.
What Does the Market Forecast for Feed Acidifiers Look Like?
The feed acidifiers market is anticipated to continue its strong growth trend in the coming years, reaching $4.05 billion by 2028 at a CAGR of 8.6%. The growth in this forecast period can be attributed to factors such as sustainable livestock farming initiatives, global food security efforts, an ongoing need for antibiotic alternatives, the bourgeoning demand for health and wellness, and continued research and development in the field. Key trends expected to be witnessed in this period include the use of organic and natural acidifiers, microencapsulation technology advancements, blend and combinations of acidifiers, and a synergy between probiotics and acidifiers.
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What is Driving the Feed Acidifiers Market?
One critical factor propelling the feed acidifier market's growth going forward is the rising demand for meat and dairy products. These products form an integral part of a healthy, balanced diet, offering essential proteins from meat, fish, and eggs. Acidifiers play a key role in promoting the absorption of minerals obtained from animal meat and dairy products, enhancing nutrient digestion. For instance, in 2022, the Food and Agriculture Organization of the United Nations predicted a 1.2% increase in global meat production from 2021, amounting to 360 million tons in carcass weight equivalent. Additionally, the output of beef globally is expected to reach 73.9 million tons in 2022, marking a 1.4% increase from the previous year. Furthermore, the food and agriculture organizations in the United States forecast a 177 million-ton expansion in global milk output by 2025, translating to an average annual growth rate of 1.8%. The growing demand for meat and dairy products thus drives the growth of the feed acidifier market.
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Who are the Major Players in the Feed Acidifiers Market?
Several prominent companies are operating in the feed acidifiers market. These include BASF SE, Yara International ASA, Kemin Industries, Biomin Holding GmbH, Kemira Oyj, Perstorp Holding AB, Novus International Inc., and Corbion NV. Other key players are Impextraco NV, Addcon Group GmbH, Anpario plc, PeterLabs Holdings Berhad, JEFO Nutrition Inc., Pancosma SA, Nutrex NV, Koninklijke DSM N.V., Diamond V, Bluestar Adisseo Nutrition Group Ltd., Alltech Inc., Borregaard AS, Cargill Inc., Provimi Holding BV, Selko Feed Additives, Trouw Nutrition International, and Vetagro S.p.A., including others.
What are the Emerging Trends in the Feed Acidifiers Market?
A key emerging trend in the feed acidifier market is strategic partnerships, with major companies focused on collaborations to consolidate their market positions. An example is a partnership in January 2021 between Azelis, a Belgium-based food industry service provider, and Perstorp AB, a chemical company based in Sweden. Through this collaboration, both companies expanded their representation in Great Britain for their range of animal nutrition solutions, including gut health solutions, feed hygiene solutions, acidifiers, silage additives, and mixed ration and grain preservatives.
How is the Global Market for Feed Acidifiers Segmented?
The feed acidifiers market can be segmented as follows:
1 By Type: Propionic acid, Fumaric acid, Lactic acid, Formic Acid, Other Types
2 By Form: Dry, Liquid
3 By Livestock: Poultry, Swine, Ruminants, Aquaculture, Pets, Other Livestocks
4 By Compound: Blended, Single
Which Regions are Majorly Contributing to the Feed Acidifiers Market?
In 2023, Asia-Pacific emerged as the largest region in the feed acidifiers market, while North America is expected to be the fastest-growing region in the forecast period. Regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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