New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on the “Global Butyric Acid Derivatives Market” for the forecast period, i.e., 2023-2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation,
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Butyric Acid Derivatives Market Size:
The global butyric acid derivatives market to acquire around USD 1367.8 million by 2033 and grow at a CAGR of ~6.7% over the forecast period. Additionally, the market garnered revenue of around USD 669.9 million in the year 2022. The increase in meat and poultry consumption, backed by the rising production of meat across the globe can be ascribed to the expansion of the market. The production of meat has reportedly risen in the last 30 years. By 2050, the world is projected to consume around 450 million tons to 580 million tons of beef. Butyric acid derivatives assist digestive health, a balanced diet, and animal productivity in addition to helping with health improvement. Furthermore, the demand for meat-based products is estimated to rise over the forecast period, backed by the increasing awareness of the health advantages of animal protein. For instance, beef output has increased by more than threefold in the 50 years since global meat consumption tripled.
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Global Butyric Acid Derivatives Market: Key Takeaways
- Asia Pacific region acquires a noteworthy share of the revenue
- Swine segment to influence the revenue graph
- Sodium butyrate segment retains a sizable presence in the market
Growing Incidence of Various Diseases in Animals and Rising Awareness of the Benefits of a Healthy Lifestyle to Fuel the Market Growth
Over two-thirds of human infectious diseases are caused by diseases of animal origin, which annually result in around a billion human illnesses and millions of fatalities as well as hundreds of billion dollars in economic losses, and loss of tons of meat products and dairy products. Financial losses resulting from cattle death, which is a serious concern for animal welfare. Hence, this growing prevalence of diseases in animals is estimated to boost market growth. It was observed that between June 2017 and July 2018, more than 960 medical problems in cattle were diagnosed by veterinarians and endo-parasites (15%), FMD (27%), non-specific diarrhea (7%), and post-partum anoestrus (7%) were the main ailments affecting animals.
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Moreover, people are becoming increasingly conscious of the significance of leading healthy lifestyles. Based on a study conducted in India, revealed that in 2021, more than 65% of people were more willing than previously to change their diets and lifestyles in order to enhance their health. In order to attain a healthier life, 62% of the respondents said that they are depending more on medical and nutritional specialists. Around the world, people are becoming more interested in leading a healthy life and purchasing healthy food. On account of the enormous population, there has been a noticeable growth in the consumption of eggs, meat, and dairy products. As a result, there is a rise in the demand for animal feed which is predicted to the demand for butyric acid derivatives globally.
Global Butyric Acid Derivatives Market: Regional Synopsis
The global butyric acid derivatives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa Region.
Increasing Livestock Production to Boost the Market Growth in the Asia Pacific Region
The market in the Asia Pacific region is anticipated to hold the highest market share over the forecast period. It is estimated that the Asia Pacific market to account for 53% of global sales in 2022, supported by rising livestock production in developing nations such as China, India, Japan, and Korea. It was noted that a considerable rise in monogastric cattle which is 63-75% of all livestock units (LUs) led to a 30-year increase in the number of LUs in China. In addition, the market is predicted to be fueled by factors such as high consumption of chicken products, the quantity of egg production, expanding population, expanding animal husbandry operations, and increased awareness of the benefits of adopting a healthy lifestyle. For instance, China holds the second position in chicken meat production by producing around 20 million tons of chicken meat in 2021.
Sizeable Production of Poultry and Eggs to Elevate Market Growth in the North America Region
Whereas, the market in the North America region is projected to hold a substantial market share on account of the significant number of poultry and egg production in the region. The U.S. poultry industry is the greatest producer of eggs among all poultry in the world. It was found that the United States, the world’s biggest producer of chicken meat was projected to generate around 20.5 million metric tons of broiler meat in 2021, and broiler meat consumption increased to 96 pounds per person in 2021. The demand for butyric acid derivatives for chicken feed is estimated to increase with the increase in the production of chicken and its products which fuels the market expansion in the region.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [ Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Butyric Acid Derivatives Market, Segmentation by Animal Feed
- Poultry
- Swine
- Others
- Goats
- Sheep
Out of these, the swine segment, with a market share of 53% in 2022, is predicted to hold the largest market share over the forecast period. Further, the demand for pig feed and pig breeding has been significantly impacted in recent years by the consumption of pork and poultry. During the projection period, it is anticipated that the global shipment of butyric acid derivatives for swine animal feed to accelerate the growth of the segment. For instance, by 2024, China’s consumption of pork is projected to expand at a pace of about 6.5 kg per person, more than 3 times the current rate of 2.6 kg per person for poultry.
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Global Butyric Acid Derivatives Market, Segmentation by Product
- Sodium Butyrate
- Calcium Butyrate
- Esterified Tributyrin
- Others
- Potassium Butyrate
- Magnesium Butyrate
The sodium butyrate segment is expected to hold a noteworthy market share during the forecast period. Additionally, the most accessible form of butyrate is sodium butyrate, which has been associated to increase growth rate, higher feed efficiency, and also improving intestinal health, weight gain, and papillae growth. China witnessed the biggest rise in feed output by tonnage in 2021, up 9% to 262mmt, and a 2.5% increase in broiler feed production. Pig feed production grew by 6.9% which made the region witness the largest regional growth of 5.9%. Further, the growth in the production of animal feed is estimated to boost the need for sodium butyrate production and expands the segment growth.
Few of the well-known market leaders in the global butyric acid derivatives market that are profiled by Research Nester are Nutreco N.V., 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, Alfa Aesar (China) Co. Ltd., OQ Chemicals GmbH, KUNSHAN ODOWELL CO. LTD.
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Recent Developments in Global Contextual Advertising Market
- In October 2021, Nutreco N.V. has informed that the European REACT-EU* recovery aid program has awarded nearly EUR 2 million (USD 2.27 million) to its ‘Feed for Meat’ joint venture with Mosa Meat to enhance cellular agriculture and provide cultivated beef to the EU market.
- In December 2021, OQ Chemicals GmbH raised the cost of carboxylic acids and esters. It contains several ingredients including 2-Ethylhexanoic Acid, and n-Butyric Acid, and isobutyric acid.
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