For improving and increasing the digestibility of the animal feed, supplements are added which are known as fees acidifiers. The global feed acidifiers market is expected to grow at the CAGR of 6.7 % during 2016-2022 and is expected to reach $2110 million till 2022.
There are various factors like the growing demand for protein rich foods like dairy, meat products and other related products due to rising occurrence of nutritional deficiencies among livestock which drive the global market. Huge growth in the concerns for refining animal feed quality along with the upsurge in the demand for high nutritional additives is estimated to be accelerating the market growth during the forecast time period. Many companies are increasingly using feed acidifiers to supplement nutritional additives in the livestock. Worldwide, animal feed additives market has been witnessing ban on several multivitamins and antibiotics by various regulatory agencies like REACH, FDA and USDA. Hence, the discontinuation of these feed additives has further elevated penetration of acidifiers in the feed market over the forecast year. Ban of antibiotics by the European Union (EU) is also a major reason that fuels the global feed acidifiers market.
The global feed acidifiers market is majorly segmented into livestock, type, brands, form and regional outlook. On the basis of livestock, the global market is divided into cattle, poultry, swine, aquatics and others. Among these the poultry segment is growing at a fast pace and is hence leading the livestock segment in the consumption of feed additives. On the basis of type, the market is divided into propionic acid, fumaric acid, lactic acid, formic acid and others. In 2015, propionic acid was the largest product segment in the global feed acidifiers market. On the basis of brands, the market is divided into nutracid, panacid, acidomix, bolifor feed acidifiers and others. Acidomix is further divided into Acidomix AG, Acidomix AFL, and Acidomix AFG. In form segment, market is categorized into single component acidifiers and acidifier blends.
Limitation of this industry is the emergence of substitute products such as metabolic peptites, microflora enhancers, and various other herbal products. Also, the increase in the cost of feed ingredients hampers the growth of this market. Huge growth opportunities for the global feed acidifiers market are created due to increasing use of feed acidifiers for treatment of animal diseases. The market players are continuously working upon developing innovative production techniques for increasing their production capacity and providing products at a lower cost.
The global feed acidifiers market is divided into North America, Europe, Asia Pacific and Rest of the World, geographically. The dominant market of the global feed acidifiers market is Europe owing to growth of the poultry and milk packaging industries in the region. North America and Asia Pacific regions are observed to have a lucrative growth rate during the study period. As considerable increase in the feed production has been witnessed and growth in the awareness among the consumers regarding the quality of meat, dairy and other related products is increasing in India and China, Asia Pacific region is likely to be providing profitable growth opportunities until 2022. Rest of the world is also showing positive growth rate owing to rising poultry industry.
Major challenges present in the global feed acidifiers market are the lack of adequate identification & adaptation to local customer requirements and need for sustainable sourcing of ingredients which prove to be hampering market growth.
Acquisitions, collaborations, new product development, mergers and expansions, joint ventures, are the key strategies adopted by the market players to sustain in the market. Novus International, Inc., Kemin Industries, Inc., Elanco Animal Health, Biomin Holding GmbH, Novozymes Adisseo France S.A.S, Charoen Pokphand Foods Public Company Limited, Inc., Impextraco NV, Nutrex NV, Kemira OYJ, Pancosma SA, Perstorp Holding AB, Yara International ASA etc., are some of the key market players present in the global market.