08 Oct

The feed acidulants market is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by the rising consumption of meat and dairy products, the high threat of diseases in livestock, and the ban of antibiotics in the European Union (EU). 

The feed acidulants market has been segmented, on the basis of type, into eight major categories: propionic acid, formic acid, citric acid, lactic acid, sorbic acid, malic acid, acetic acid, and others. Propionic acid is also used in the ensiling process for poultry feed, as it improves silage production and provides aerobic stability in silage. It also helps curb bacterial growth in molds, and hence, can also be used as a preservative in animal feed. The preservative effect of propionic acid thereby aids the prevention of feed nutrient losses and mycotoxin formation. The growing demand for feed preservation without affecting the natural properties of the feed is driving this market. 

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The dry segment is projected to dominate the market during the forecast period. Most companies in the feed acidulants market offer their products in the dry form, due to its ease of usage, storage, and transportability. These products are widely used in feed formulations due to their free-flowing structure and their ability to provide consistency. Such factors are expected to drive the market for the dry form of feed acidulants during the forecast period.

Asia Pacific is the major revenue generating region in the feed acidulants market, the region is experiencing higher developments in the feed production and feed additives. With the rapid economic growth in the region, the demand for meat and dairy products is projected to increase, particularly in countries such as China, India, Japan, and Thailand for both domestic consumption as well as exports. The increasing demand for protein-rich livestock feed in New Zealand and Australia has led to growth in demand for feed acidulants for better and enhanced quality of meat and dairy products. Additionally, milk production in the Asia Pacific region was more than 40% (or more than one-third of the total milk production in the world) in 2016. Being the largest region in terms of both volume and value, consumers belong to varied economic strata, with varying food habits and demands.

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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