New York, March 25, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Renewable Butyric Acid and Synthetic Butyric Acid) and Application (Printing Inks, Animal Feed, Food Flavors and Food Fragrances, Chemical Intermediates, Pharmaceutical, and Others)”, the global butyric acid market growth is driven by the increasing demand from the animal feed sector and growing applications in the pharmaceuticals industry. Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 15.3% from 2021 to 2028.
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| Report Coverage | Details |
| Market Size Value in | US$ 183.48 million in 2021 |
| Market Size Value by | US$ 484.55 million by 2028 |
| Growth rate | CAGR of 14.9% from 2021 to 2028 |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 159 |
| No. Tables | 56 |
| No. of Charts & Figures | 69 |
| Historical data available | Yes |
| Segments covered | Source and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Butyric Acid Market: Competition Landscape
Eastman Chemical Company; OQ Chemicals GmbH; Tokyo Chemical Industry Co., Ltd.; Perstorp Holding AB; Alfa Aesar; MERCK KGaA; Vigon International, LLC.; Hefei TNJ Chemical Industry Co., Ltd.; KUNSHAN ODOWELL CO., LTD; and Yufeng International Co., Ltd. are among the players operating in the global butyric acid market. Players operating in the market focus on providing high quality products to fulfil the customer demand.
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In 2020, Asia Pacific held the largest share of the global butyric acid market. In the region, China and India are among the major consumers of butyric acid. Factors contributing to the market growth in the region are the growing number of livestock farms in Asia Pacific and the large-scale use of butyric acid in chemical intermediate production. Further, poultry farm is one of the major end users of the animal feed industry. Therefore, the growing production of poultry meat in the region is bolstering demand for animal feed, subsequently propelling the butyric acid market growth in the region.
In the animal feed industry, butyric acid is used to improve gut health and animal performance. Butyric acid is known for its beneficial effects on gut health and development. Butyric acid in animal nutrition also helps in improving absorption of nutrients and maintains high standards of animal wellbeing. Nowadays, numerous butyric acid-based products are available in the market. Glycerides of butyric acid in the form of alpha-monobutyrin and tributyrin improve weaned piglet performances.
Butyric acid has many applications in the pharmaceuticals industry. The compound is well known for its anti-cancer effects as it induces morphological and biochemical differentiation in various cells; it has also been studied for its colon cancer-suppressing abilities. According to the American Cancer Society, colon cancer is the third-leading cause of cancer-related deaths in men and women in the US.
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The pharmaceutical market in China has grown persistently to become one of the largest markets in the world in recent years. The government of China is making efforts to support its pharmaceutical industry. Moreover, India has grabbed an important position in the global pharmaceuticals sector. The US, Italy, and Japan also have strong pharmaceutical bases. Therefore, the continuous growth of the pharmaceuticals industry and a substantial demand for butyric acid in this industry are driving the butyric acid market growth.
Impact of COVID-19 Pandemic on Butyric Acid Market:
The COVID-19 pandemic caused the significant economic losses across the world. The market also experienced the adverse effects of the pandemic in 2020. The pandemic led to temporary effects on the operational efficiencies of various industries. It has negatively impacted various application segments, such as animal feed, food flavors, food fragrances, chemical intermediates, and pharmaceutical. The crisis restricted the use of butyric acid across the world. In Asia Pacific, the lockdown measures caused severe disruptions in the animal feed production and distribution networks. However, various industries are resuming their operations. With this, the demand for butyric acid is also improving. In India, the demand for butyric acid in the domestic market is rising due to the increasing demand from various application segments, such as pharmaceuticals, chemical intermediates, and animal feed.
Butyric Acid Market: Segmental Overview
Based on source, the butyric acid market is bifurcated into renewable butyric acid and synthetic butyric acid. The synthetic butyric acid segment held a larger share in the market in 2020. Synthetic butyric acid is mainly produced via chemical synthesis. Also, it can be produced from ethanol and acetic acid. The synthetic butyric acid is widely used for producing printing inks, disinfectants, flavors, and food additives.
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Based on application, the butyric acid market is segmented into printing inks, animal feed, food flavours and food fragrances, chemical intermediates, pharmaceutical, and others. The animal feed segment held the largest share in the market in 2020. Butyric acid and fatty acids are extensively used in the production of poultry and swine feed due to its beneficial properties, such as improving digestibility, better colonization resistance, and improved growth performance among young livestock. Also, butyric acid-based feed increases antioxidant levels to promote healing among broilers and swine.
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