Butyric Acid Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|CAGR||> 5.00 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Butyric Acid Market Analysis
The global Butyric Acid Market is projected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted due to COVID-19 in 2020 owing to the pandemic scenario; several countries went into lockdown, which led to supply chain disruptions, work stoppages, and labor shortages. However, the upsurge in the application of butyric acid in the food and flavor industry propelled the industry's growth.
- Over the medium term, the rising number of food processing industries and the increasing usage of butyric acid as an intermediate drive market growth.
- Conversely, fluctuating raw materials and associated health hazards are expected to hinder market growth.
- Increasing butyric acid adoption in biofuels will likely offer new growth opportunities to the overall industry in the coming years.
- Asia-Pacific region accounted for the largest share and is expected to register the highest CAGR during the forecast period.
Butyric Acid Market Trends
Increasing Demand from the Animal Feed Sector
- Butyric acid has been gaining popularity as an ingredient for animal feed. Butyric acid is the key feedstock for different butyrate salts and glycerine esters-so-called butyrins. Salts are incorporated into feed premixes as fat-coated or non-coated administrative forms to channel the active ingredient to the target organs in the animal's intestine.
- For the cattle, poultry, and aquaculture industries, butyric acid derivatives are used as feed additives. Butyric acid is essential for animals and is used to help animals meet the necessary health requirements.
- The right type of feed is necessary to provide nutritious ingredients to animals, so butyric acid is a beneficial ingredient for the animal feed industry. Butyric acid products help improve health, provide a proper diet for animals, and help to raise animals more efficiently.
- The rising incidences of animal diseases have led to the increased use of butyric acid in animal feed in various regional markets. In Asia, the meat per capita is still very low compared to the developed regions like Europe and North America. However, due to rising incomes and urbanization, meat consumption will explode in the region. The burgeoning wealth of the relatively new middle class across most of Asia drives the high demand for animal products.
- The rising penetration of major food corporations like KFC and McDonald's, who have made low-price meat increasingly available in Asian markets, is also contributing to this growth. According to Asia Research and Engagement report named 'Charting Asia's Protein Journey,' has forecast that meat consumption will rise to 33% by 2030 and 78% by 2050 in Asia.
- The top eight countries are China, the U.S., Brazil, Russia, India, Mexico, Spain, and Turkey. Together, they account for 55% of the world's feed production and contain 59% of the world's feed mills.
- In 2021, the United States imported around USD 1.53 billion in dog and cat food. Canada is the United States' largest export market for pet food, specifically dog and cat food, and the third-largest export destination for all United States agricultural products.
- The Chinese pet food sector revenue rose significantly from CNY 28 billion (USD 4.29 billion) in 2015 to CNY 138.2 billion (USD 21.6 billion) in 2021. According to the National Bureau of Statistics of China (NBS China), most people with pet dogs or cats are elderly. Approximately 61% of the 65+ age group live with a pet.
- All such growth depicting factors in animal feed consumption drives the market for butyric acid over the forecast period.
To understand key trends, Download Sample Report
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the global market, owing to China's highly developed healthcare sector, coupled with the continuous investments done in the region to advance the food processing and chemical sector through the years.
- Butyric acid consumption for animals has been significantly rising. It helps maintain animal intestinal health and growth performance, especially in young and vulnerable animals.
- According to the IQVIA Institute for Human Data Science, the Chinese pharmaceutical sector has shown the highest growth rates over previous years. In 2021, the pharmaceutical industry in China generated total revenue of over CNY 3.3 trillion (USD 487.5 billion), representing a year-on-year growth of almost 20 percent.
- Furthermore, China is the second-largest market for pharmaceuticals globally. The pharmaceutical market is emerging rapidly, owing to the country's growing middle-class and aging society, rising incomes, and increasing urbanization.
- In India, drug & pharmaceutical exports stood at USD 24.60 billion in FY22 and USD 24.44 billion in FY21. High economic growth along with increasing penetration of health insurance to push expenditure on healthcare and medicine in India. India's domestic pharmaceutical market stood at USD 42 billion in 2021 and is likely to reach USD 65 billion by 2024 and further expand to USD 120-130 billion by 2030.
- The food and beverage industry in China is growing at a rapid pace. China accounts for almost one-fourth of the global population, and the country hosts one of the most rapidly developing consumer markets in the world, which greatly boosts the food and beverage industry.
- In 2021, the food industry in China generated a total profit of about CNY 618.7 billion (USD 91.4 billion), decreasing from around CNY 621 billion (USD 91.7 billion) in the previous year. The food manufacturing industry contributed approximately CNY 165.4 billion (USD 24.4 billion) to the total profits.
- China's livestock industry has expanded rapidly in recent years as diets are shifting toward more animal-based proteins. Currently, China is the world's largest producer of livestock products and the largest animal feed manufacturer.
- All the factors above are expected to drive the demand for butyric acid over the forecast period.
To understand geography trends, Download Sample Report
Butyric Acid Industry Overview
The Butyric Acid Market is partially consolidated in nature, with a few major players dominating a significant portion of the market. Some of the major companies are Eastman Chemical Company, OQ Chemicals GmbH, Perstorp Holding AB, Tokyo Chemical Industry Co., Ltd, and Merck KGaA, among others (not in any particular order).
Butyric Acid Market Leaders
Eastman Chemical Company
Perstorp Holding AB
Tokyo Chemical Industry Co., Ltd
OQ Chemicals GmbH
*Disclaimer: Major Players sorted in no particular order
Butyric Acid Market News
- March 2022: Perstorp expanded its innovative range of broiler feed solutions with the launch of Gastrivix Avi. It is a unique gut health solution combining the benefits of valeric and butyric acid.
- March 2022: METEX NØØVISTA and ALINOVA announced an agreement for the marketing in France of the first 100% bio-based butyric acid for animal nutrition made in France. This partnership will enable ALINOVA to grow its portfolio of technical, performance-enhancing products to meet its customers' natural and sustainable ingredients needs.
Butyric Acid Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand from Food Processing
4.1.2 Increasing Usage of Butyric Acid as Intermediates
4.2.1 Associated Health Hazards and Fluctuating Raw Material Prices
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1.1 Renewable Butyric Acid
5.1.2 Synthetic Butyric Acid
5.2.1 Chemical Intermediates
5.2.2 Animal Feed
5.2.5 Food and Flavors
5.2.6 Other Applications
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Beijing Huamaoyuan Fragrance Flavor Co., Ltd.
6.4.2 Eastman Chemical Company
6.4.3 Merck KGaA
6.4.4 Metex Noovista
6.4.5 OQ Chemicals GmbH
6.4.6 Perstorp Holding AB
6.4.7 Shanghai Kayi Chemical Co., Ltd.
6.4.9 Thermo Fisher Scientific
6.4.10 Tokyo Chemical Industry Co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Adoption of Butyric Acid in Biofuels
7.2 Other Opportunities
Butyric Acid Market Research FAQs
What is the current Butyric Acid Market size?
The Butyric Acid Market is projected to register a CAGR of greater than 5% during the forecast period (2023-2028).
Who are the key players in Butyric Acid Market?
Eastman Chemical Company, Perstorp Holding AB, Merck KGaA, Tokyo Chemical Industry Co., Ltd and OQ Chemicals GmbH are the major companies operating in the Butyric Acid Market.
Which is the fastest growing region in Butyric Acid Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Butyric Acid Market?
In 2023, the Asia Pacific accounts for the largest market share in the Butyric Acid Market.
Butyric Acid Industry Report
Statistics for the 2023 Butyric Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Butyric Acid analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.