The market for feed acidulants is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. This is attributed to the growing government aids or funds in the feed industry and high threat of diseases among livestock.
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By compound, the blended segment is projected to be the largest contributor to feed acidulants market during the forecast period.
The use of blended acidulants compound is a new market development, with single compound acidulants still being used widely. However, their usage has increased significantly over the years, making it the more prominent one among both. Blended acidulant compounds help reduce the presence of harmful microorganisms in feed, in addition to promoting beneficial microbial growth in the gut. Conversely, the addition of antibiotics inhibits the growth of any microorganisms, even if they are beneficial to the livestock.
The dry acidulant form segment is projected to account for a larger market share during the forecast period.
Feed acidulants is widely used in dry form. Dry feed is available in the form of pellets, powder, and crumbles. It is a largely produced and consumed, globally. Most feed additive manufacturers in the market offer their feed acidulant in the dry form due to its ease of usage, storage, and transportation. Moreover, dry feed acidulants is widely used in animal diets, as it is affordable in comparison with liquid feed and requires less maintenance. Due to these factors, the segment is estimated to acquire a larger market share during the forecast period.
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South America is projected to grow at the highest CAGR during the forecast period.
The market in South America is estimated to grow at the highest CAGR in the market during the forecast period. This growth is attributable to the development of the animal husbandry sector in the region that has promoted an increase in the consumption of feed additives such as acidulants; rising income levels in emerging economies such as Brazil and Argentina, which is supporting consumer inclination to better quality meat and other livestock products; rising demand for meat from this region.
Major vendors in the feed acidulants market include 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 NV (Netherlands), ADDCON Group (Germany), and Peterlabs Holding (Malaysia) are other players that hold a significant share in the feed acidulants market.
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