Increasing Demand from Animal Feed Sector to Escalate Butyric Acid Market Growth during 2021–2028
According to our latest market 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 market was valued at US$ 183.48 million in 2021 and is projected to reach US$ 484.55 million by 2028; it is expected to grow at a CAGR of 14.9% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Butyric acid finds applications in various industries, such as chemical, food, and pharmaceutical. The growing population and increasing per capita income globally are among the major factors accelerating the demand for flavored foods. Butyric acid is one of the widely used flavoring agents in food and beverages, and it has a fruity and cheesy flavor. Therefore, the market for the food flavors and food fragrance segment is propelling at a notable rate.
The livestock industry in various countries has expanded rapidly with the shift in diet preferences among consumers toward animal proteins in recent years. Globally, pork and poultry dominate meat consumption. Poultry is perceived as a cost-effective protein source. The increasing demand for meat products highlights the need for animal feed and feed additives. China is the world's largest livestock products producer and the animal feed manufacturer. The demand for butyric acid is driven by the rising demand for animal feed products in different regions, thereby bolstering the market growth.
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.
Impact of COVID-19 Pandemic on Butyric Acid Market
The COVID-19 pandemic has negatively impacted the growth of the butyric acid market. The pandemic has disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. It caused volatility in the prices of raw material required to produce butyric acid. The demand and use of butyric acid from different downstream sectors, such as food flavors, food fragrances, and chemical intermediates, were declined. However, as the economies started reviving their operations and the industrial and commercial activities began recovering in 2021, the demand for butyric acid also started to rise globally.
Global Butyric Acid Market Breakdown –by Region
Butyric Acid Market Size, Price, value, Trends & Forecast 2028
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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)
Butyric Acid Market Size, Price, value, Trends & Forecast 2028
Download Free SampleButyric 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 report includes the segmentation of the global butyric acid market as follows:
The butyric acid market, by source, is segmented into renewable butyric acid and synthetic butyric acid. Based on application, the market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. By geography, the butyric acid market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The butyric acid market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the rest of Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the rest of Asia Pacific. The MEA market is further segmented into South Africa, Saudi Arabia, the UAE, and the rest of MEA. The butyric acid market in South & Central America is subsegmented into Brazil, Argentina, and the rest of South & Central America.
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