The global feed acidulants market size is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by the ban on antibiotics in the European Union and growth in government funding to promote the feed industry.
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Key Players:
- BASF SE (Germany)
- Yara International ASA (Norway)
- Kemin Industries Inc. (US)
- Kemira OYJ (Finland)
- Biomin Holding GmbH (Austria)
- Impextraco NV (Belgium)
- Pancosma (Switzerland)
- Nutrex NV (Belgium)
BASF SE continues to focus on maintaining its position in the global animal nutrition market through geographic expansion in high-growth markets. The company focuses on the manufacturing of performance products along with an R&D program to develop new solutions for the feed acidulants market for different types of acids such as propionic acid, formic acid, and fumaric acid. It focuses on expanding its product portfolio through expansions and collaborations that will help fulfill the demand from the feed industry in the coming years. For instance, in 2018, BASF and arc-net entered into a collaboration to support the animal production value chain in meeting the demand for feed products. BASF’s calculation tool, AgBalance Livestock, considers the life cycle impact of all inputs and outputs of animal protein production—from feedstuffs and feed production, to animal farming and manure management, to slaughter. Earlier in 2018, BASF launched a low-corrosive organic acid, Lupro-Cid NA in Japan. Lupro-Cid NA enables high-quality silage preparation under challenging conditions. Thus, it would help dairy farmers protect feed quality and improve safety during silage making.
Furthermore, Kemin Industries is engaged in developing products sourced from natural raw materials, owing to consumer preferences. This is due to the fact that there is an increasing demand for naturally sourced ingredients over synthetic ones, owing to the added nutritional benefits that they offer. The key strategy adopted by Kemin is expansion. It adopts new and advanced technologies to diversify its product portfolio. In 2016, the company focused on expanding its manufacturing facilities in Russia and Belgium to capitalize on the strong demand for feed ingredients. The company has been accredited with various certifications from authorities such as Food Safety System Certification 22000 and Global Food Safety Initiative. The company focuses on using the best technical expertise in the industry to serve its customers and manufacture its products. It is also focusing on R&D, owing to which it is increasing its investments in R&D.
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Biomin Holding GmbH is a manufacturer of feed additives & premixes and provides services that help in enhancing livestock performance in a cost-effective manner. The company is one of the largest players in the feed nutrition sector, especially feed acidulants. Biomin is focused on expanding its business and product portfolio by launching new products. Expansion is one of the top strategies for Biomin. The company opened a new plant in Panama, with its headquarters in Austria, which allows the company to meet the growing customer demand.
Geographical Prominence:
The market in South America is estimated to grow at the highest CAGR in the market during the forecast period. This growth is attributable to the development of the animal husbandry sector in the region that has promoted an increase in the consumption of feed additives such as acidulants; rising income levels in emerging economies such as Brazil and Argentina, which is supporting consumer inclination to better quality meat and other livestock products; rising demand for meat from this region.
