Austin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- “According to the new market research report The Butyric Acid Market is poised to witness substantial growth, projected to reach USD 715.6 Million by 2032, growing at a compound annual growth rate of 10.6% from 2024 to 2032.”
Trends Impacting the Butyric Acid Market
One of the most relevant factors that grow every year is the need for butyric acid to be used across other sectors. Naturally, it is a short-chain fatty acid presented in various types of food, primarily dairy products, and its beneficial properties are widely known. With the increase in people’s awareness concerning gut health, the demand for butyric acid will grow at a high rate. Nothing is surprising in the popularity of butyric acid in the form of dietary supplements or functional foods. More and more consumers prefer to buy clean-label and natural products; the quality of the butyric acid derived from natural sources can also have growth prospects.
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Key Players in the Butyric Acid Market:
- Eastman Chemical Company
- OQ Chemicals GmbH
- Perstorp Holding AB
- Blue Marble Biomaterials
- Tokyo Chemical Industry Co. Ltd
- Alfa Aesar
- OXEA GmbH
- Beijing Huamaoyuan Fragrance Flavor Co. Ltd
- Snowco Industrial Co. Ltd
- Palital Feed Additives B.V.
- BASF SE
- Kraton Corporation
- Royal DSM N.V.
- Evonik Industries AG
- Solvay S.A.
- Fuso Chemical Co. Ltd
- Hawkins, Inc.
- Hunan Huitong Chemical Co. Ltd
- Penta Manufacturing Company
- SABIC
The International Dairy Federation reported that global dairy production reached approximately 874 million tons in 2022, with a projected increase due to rising consumer demand for dairy products. This growing production not only highlights the importance of butyric acid in enhancing the health benefits of dairy but also indicates a potential increase in its market demand.
Moreover, the animal feed industry is witnessing a significant shift toward incorporating butyric acid as a feed additive. It has been shown to enhance gut health and improve feed efficiency in livestock, aligning with the industry's focus on sustainable and health-oriented solutions. A report by the Food and Agriculture Organization (FAO) projects that global meat production will reach approximately 400 million tons by 2030, further fueling the demand for effective feed additives like butyric acid.
Opportunities in the Butyric Acid Market
Emerging Markets and Technological Advancements
The rapid rate of economic growth in emerging markets, coupled with the rising income of consumers, provides substantial opportunities for the butyric acid market. In the Asia-Pacific region, Ecuador, especially, China and India have witnessed a greater investment in health and wellness, which includes the consumption of dietary supplements, and functional foods that contain butyric acid. The adoption of such products is being driven by the level of urbanization in the regions as well as the growth of the middle class who can afford healthier alternatives and are health conscious.
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Moreover, advances in the production technology for butyric acid have created opportunities for novel uses. Recent advancements in the fermentation process which are reliable and produce better yields at a lower cost and sustainable methods of producing butyric acid have increased the feasibility of the production of high-quality products. Some companies are employing bio-based production methods, a move that enhances the continued uses of butyric acid. Therefore, butyric acid’s role as a more sustainable option is attributable to the shift to green chemical processes, which is observable in the chemical industry.
Which Region Held the Highest Market Share in the Butyric Acid Market?
In 2023, the Asia-Pacific region dominated the butyric acid market which accounted for approximately 42% of the total market share. This dominance can be attributed to the rapid growth of the food and beverage industry and the increasing demand for animal feed in countries like China and India. As per the National Bureau of Statistics of China, the country produced approximately 15 million tons of butyric acid in 2022, making it a critical player in the global market. The robust growth of the dairy and meat industries in this region further drives the utilization of butyric acid, as it is recognized for its benefits in promoting gut health and improving livestock performance.
In North America, the growing focus on health and nutrition has led to increased demand for butyric acid in dietary supplements and functional foods. The U.S. Food and Drug Administration (FDA) has also recognized the importance of butyric acid, prompting research into its health benefits and potential applications. Europe is witnessing a similar trend, with heightened consumer awareness of gut health and an emphasis on natural ingredients driving the demand for butyric acid products.
Key Segments:
By Type
- Synthetic
- Renewable
By End-Use
- Animal Feed
- Chemical Intermediates
- Food & Flavours
- Pharmaceuticals
- Human Dietary Supplements
- Others
Which End-Use Segment Dominated the Butyric Acid Market in 2023?
The animal feed segment dominated the market with a revenue share of around 38% in 2023. The animal feed segment follows closely, driven by the increasing focus on improving livestock health and productivity. Butyric acid has been shown to promote gut health in animals, enhancing nutrient absorption and overall performance. As livestock producers seek to improve the efficiency of their operations, the demand for effective feed additives like butyric acid is expected to grow significantly.
Which Type Segment Dominated the Butyric Acid Market in 2023?
The synthetic butyric acid segment held the highest market share, around 62.3%, in 2023. Synthetic production methods allow for greater control over purity and consistency, ensuring a higher quality product. This reliability has made synthetic butyric acid the preferred choice for various industries, including food and beverage, pharmaceuticals, and animal feed.
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Recent Developments
- In 2023, Eastman Chemical Company announced the expansion of its production capacity for butyric acid to meet the increasing demand in the food and beverage sector. This strategic move aims to enhance Eastman's market presence and fulfill the growing consumer demand for natural food ingredients.
- In 2023, Perstorp Holding AB launched a new line of bio-based butyric acid products aimed at the dietary supplement and animal feed markets. This innovative product line emphasizes sustainability and is designed to cater to the growing demand for eco-friendly health solutions.
Conclusion
The butyric acid market is poised for robust growth, driven by its increasing applications in health, nutrition, and food safety. Companies focusing on product development, sustainable practices, and expanding into emerging markets are well-positioned to capitalize on the significant opportunities within this market.
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Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Butyric Acid Market Segmentation, by Type
8. Butyric Acid Market Segmentation, by End-Use
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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