Feed Acid Market is expected to grow at a CAGR of 6.3% in terms of revenue from 2013 to 2019 and the market was valued at USD 1,162.3 million in 2012, is expected to reach USD 1,779.3 million by 2019.
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The global market for feed acid witnessed growth in recent years due to growing demand for meat and meat products across the globe. In addition, disease outbreaks increased the need for feed acids which is another factor in driving market growth. Availability of different alternatives in the market for feed acid is the major growth barrier to the market. However, increasing ban on antibiotics in different countries provides a huge opportunity for the market players.
In 2012, Europe and North America dominated feed acid market that accounted for more than 60% of the marketshare. Europewas the biggest market for feed acids followed by North America. This dominance was driven by the ban on antibiotics used as a growth promoter in animal feed and the increasing demand for improving feed utilization. But in future, both these economies are expected to lose their market share. Looking ahead, Asia Pacific and RoW regions are expected to increase their market share and Asia Pacific is also expected to be the fastest growing market. The Asia Pacific market is expected to grow at a CAGR of 6.6% from 2013 to 2019. This is due to an increase in the population and rising middle class income which accounts for a higher demand for meat.
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The global market for feed acid consists of large numbers of small and medium scale manufacturers. But only some of the players accounted for the significant market share in 2012. Most of the companies depend upon a third party distribution to reach their customers, whereas some of themarket playersdirectly reach their target consumers through the industry participants by their own distribution network, or through integrated producers. Some of the key players of the market are BASF SE, ADM Alliance Nutrition, Inc, Provimi SA, Yara International ASA, and Trouw Nutrition International B.V. among many others.
Feed Acid Market: Regional Analysis
- North America
- Asia Pacific
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