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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Global Feed Acid Market Report
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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.
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
·
Europe
·
Asia Pacific
·
RoW
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