Feed acid is a compound used in animal feed to improve the quality and nutrients diet of the animals. The use of feed acid provides essential nutrients to the animal and also improves the functioning of the digestive system. Moreover, it also enables the weight gain in animals and offers better immunity. Therefore, the use of feed acid offers a nutritionally balanced diet to the feed.
The global feed acid market is estimated to be valued at US$ 1,909.4 million in 2022 and is expected to exhibit a CAGR of 6.7% over the forecast period (2023-2030).
Global Feed Acid Market: Drivers
Growing prevalence of zoonotic diseases
The growing prevalence of the disease among animals is driving demand for feed acids. The outbreak of diseases such as avian flu and foot-and-mouth has raised concern over animal health around the globe. Owing to this quality of food has become a critical factor in overall health. The growing awareness regarding the important ingredients that helps in improving the overall health of the animal coupled with the growing preference of consumers for quality meat products is further expected to foster the market growth of the feed acids.
Increasing adoption of animal husbandry practices to enhance production
An increase in the implementation of innovative animal husbandry practices to enhance meat quality is propelling the market growth of feed acids. Moreover, the increasing population coupled with the growing concern over food security is further driving demand for meat products. Furthermore, growth in the commercialization of livestock-rearing practices across the developing region is again expected to propel the market growth of feed acids over the forecast period.
Global Feed Acid Market: Restraints
Volatility and strong odor limit the use of feed acids
Factors such as volatility and strong odor limit the use of feed acids. Also, some feed acids are corrosive to the intestines of animals which are again limiting the use of feed acid. Such factors are hindering the market growth of the feed acids.
Availability of alternative protein sources that decline the consumption of the meat
The availability of alternative protein sources is declining the consumption of meat. Also, strict rules and regulations associated with the use of feed acid in the animal diet are expected to hinder the market growth of feed acid.
Figure 1. Global Feed Acid Market Value (US$ Mn), By Region, 2022
Europe region held a dominant position in the global feed acid market in 2022, accounting for 38% share in terms of revenue, followed by North America and Asia Pacific, respectively. Europe is a lucrative market for feed acids. The region’s favorable regulatory scenario is enabling growth in the market. It exhibits a significantly high demand for propionic acid, accounting for a larger percentage of sales witnessed in the market
Global Feed Acid Market: Opportunities
Increasing blending of feed acids with different organic acids
Increasing blending of feed acids with different organic acids for the improved result is expected to provide lucrative opportunities. Feed acid blends improve the positive effects when compared to those that can be achieved by using single acid substances. Blends of feed acids also enhance gut health and control more pathogenic bacteria in the digestive tract. Hence, the growing use of feed acids blends will favor the market growth of feed acids over the forecast timeframe.
Feed Acid Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 1,909.4 Mn|
|Historical Data for:||2018 to 2022||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||6.7%||2030 Value Projection:||US$ 3,206.9 Mn|
ADDCON GmbH, BASF SE, Biomin GmbH, Perstorp AB, Kemin Industries Inc., Impextraco, Jefo Nutrition Inc., Novus International, Corbion Purac, and Trouw Nutrition International B.V
|Restraints & Challenges:||
Growing demand for nutritional supplements for monogastric animals
The growing demand for nutritional supplements for monogastric animals like pigs, horses, rabbits, dogs is expected to bring new market opportunities. Also, an increase in support from governments for encouraging the use of feed acid among livestock producers is expected to foster market growth. Also, growing awareness regarding the multiple benefits of amino acid supplementation in feed coupled with the standardization of meat products due to growing health concerns is again expected to foster the market growth of the feed acids.
Continuous product launch by key players in the market for meeting the demand is one of the current trends and this is expected to foster the market growth of feed acid. For instance, in October 2022: The partnership between Evonik and BASF allowed Evonik certain non-exclusive licensing rights to OpteinicsTM, a digital solution to improve comprehension and reduce the environmental impact of the animal protein and feed industries.
Increasing disposable income coupled with the changing eating habits of consumers is contributing to the market growth of feed acids. This is also attributed to the growing health and wellness trend and increasing adoption of a healthy lifestyle among consumers. Moreover, increasing spending on food meat products due to growing health awareness along with the rising demand for high protein-rich food products is again expected to foster the market growth of the feed acids in the near future.
Figure 2. Global Feed Acid Market Share, By Animal Type, 2020
Key Takeaways of the Graph:
By animal type, the poultry animal type held a dominant position in the market and accounted for a 70% share of the global feed acid market in 2022. Poultry livestock has been significantly contributing to the demand witnessed in the feed acid market over the last few years. It is expected to remain a popular animal type through the course of the forecast period.
Global Feed Acid Market: Competitive Landscape
Major players operating in the global feed acid market include ADDCON GmbH, BASF SE, Biomin GmbH, Perstorp AB, Kemin Industries Inc., Impextraco, Jefo Nutrition Inc., Novus International, Corbion Purac, and Trouw Nutrition International B.V.
*Definition: Feed acid is a substance used in animal feed to enhance the nutrient value content in the diet. It improves the immunity of the animals on the farms and also promotes a better digestive system. Some of the feed acid products available in the market are Methionine, Lysine, Tryptophan, and Threonine. Moreover, the use of these feed acids reduces the overall production of animals.
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