The global butyric acid derivatives market is estimated to garner a revenue of USD 1 Billion by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated revenue of USD 591 Million in the year 2021. The growth of the market can be attributed primarily to the rising consumption of meat and poultry around the world. It was observed that over the past 30 years, the production of meat has doubled. Global meat consumption is expected to reach about 450 million to 580 million tons by 2050.
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Butyric acid is an alkyl carboxylic acid with a straight chain. There is extensive use of butyric acid derivatives in animal feed as additives and are used to reduce animal-derived products' strong meat odors. These ingredients help meet the health requirements of animals. It helps in improving health, provides a proper diet, and supports gut health and animal productivity. In addition, the increasing demand for meat-based products and understanding of the benefits of protein found in animal meat is expected to enlarge the global butyric acid derivatives market size during the forecast period. For instance, it has been 50 years since world meat consumption tripled, and meat production has grown more than threefold. Every year, more than 300 million tonnes of meat are produced around the world.
Increasing Awareness of the Importance of Living a Healthy Lifestyle- According to a survey held in India, it was observed that more than 65% of people were more inclined than before to improve their health through dietary lifestyle changes in 2021. Approximately 62% of respondents also report that they are relying more heavily on medical and nutritional experts to assist them in reaching a healthy lifestyle. Healthy lifestyles and healthy food products are becoming more popular around the world. There has been a significant increase in egg consumption, meat consumption, and dairy consumption as a result of the huge population base. In turn, this increases the demand for animal feed, which is expected to propel the demand for the global butyric acid derivatives market worldwide.
Increasing Prevalence of Different Diseases in Animals- It was observed that there were more than 960 medical cases of cattle diagnosed by veterinarians between June 2017 to July 2018. Animals were mostly affected by endo-parasites 15%, FMD 27%, nonspecific diarrhea 7%, and post-partum anoestrus 7%.
Mergers and Acquisitions by Key Manufacturers and Increased Product Development- The Metabolic Explorer company started a partnership with Alinova in March 2020 for the sale of 100% bio-based butyric acid for the animal nutrition market. Alnova produced the first bio-based butyric acid for animal nutrition in France
A Rise in Spending on Research & Development Worldwide- Globally, in 2020, the R&D sector contributed 2.63% of GDP to the global economy, according to data released by the World Bank. As compared to 2018, this represents an increase from 2.2% of the total GDP.
Rapid Growth in the Chemical Industry Worldwide - According to estimates, approximately USD 5 trillion in revenue was generated by the global chemical industry in 2021 as a result of growth in the chemistry sector, with a growth rate of 1.6% expected by 2025.
The global butyric acid derivatives market is segmented and analyzed for demand and supply by animal feed into poultry, swine, aquaculture, and others (goats and sheep). Among these segments, the swine segment is anticipated to capture the largest market size in the global butyric acid derivatives market. In recent years, pork and poultry consumption has greatly impacted the demand for pig feed and pig breeding. Worldwide shipments of butyric acid derivatives for swine animal feed are expected to augment the segment growth during the forecast period. For instance, the consumption of pork in China is expected to rise at a rate of around 6.5 kg per capita by 2024 and to increase at a rate more than three times higher than that of poultry, 2.6 kg per capita.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global butyric acid derivatives market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031 backed by the increasing production of livestock in developing countries such as China, India, Japan, and Korea. It was observed that a significant increase in monogastric livestock, 63 to 75% of total livestock units (LUs), caused the number of livestock units (LUs) in China to triple within 30 years. Moreover, the rising per capita income, growing population, high consumption of poultry products, growing animal husbandry activities and rising awareness towards adoption of healthy lifestyle are factors expected to drive global butyric acid derivatives market in the region during the forecast period.
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The global butyric acid derivatives market is further classified on the basis of region as follows:
Our in-depth analysis of the global butyric acid derivatives market includes the following segments:
By Animal Feed
FREQUENTLY ASKED QUESTIONS
Increasing awareness towards the adoption of healthy lifestyle along with rising consumption of meat around the world are the major factors driving the growth of the butyric acid derivatives market.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
Growing acceptance of vegan foods and increasing market for plant based products are the challenges affecting the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are The Eastman Chemical Company, Koninklijke DSM N.V., Kemin Industries Inc., Metabolic Explorer S.A., Bioscreen Technologies S.r.l., Innovad Ad NV/SA, Palital BV, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by animal feed, by product, and by region.
The swine segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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