Butyric Acid Derivatives Market: A Strong Growth Outlook from 2023 to 2033
Research Nester published a report titled “Butyric Acid Derivatives Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global butyric acid derivatives market in terms of market segmentation by animal feed, product, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global butyric acid derivatives market is anticipated to grow with a CAGR of ~7% during the forecast period, i.e., 2023-2033. The market is segmented by animal feed into poultry, swine, aquaculture, and others (goats and sheep). Out of these segments, the swine segment garnered the highest share of 53% in the market in 2022. There has been a significant impact on the demand for pig feed and for pig breeding in recent years owing to the increase in pork and poultry consumption. Growth in the segment is expected to be boosted by worldwide shipments of butyric acid derivatives for swine animal feed during the forecast period. It was observed that China’s pork consumption is projected to grow at a rate of 6.5 kg per capita by 2024, three times higher than poultry’s 2.6 kg per capita.
The global butyric acid derivatives market is estimated to garner revenue of ~USD 1367.8 million by the end of 2033, up from revenue of ~USD 669.9 million in the year 2022. Higher consumption and production of meat, increasing animal husbandry activities, awareness of a healthy lifestyle along with increasing incidence of animal diseases are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global butyric acid derivatives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these regions, the Asia Pacific region holds 53% of the market revenue in 2022. A growing number of livestock in developing countries, including China, India, Japan, and Korea is expected to drive regional market growth during the forecast period. Furthermore, a growing population, increasing per capita income, higher poultry consumption, increasing animal husbandry activities, and a rising awareness towards adopting healthy lifestyles are contributing factors anticipated to propel the demand for butyric acid derivatives in the region over the forecast period.
The research is global in nature and covers detailed analysis on the market 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). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Improving Awareness of Healthy Lifestyles to Drive the Growth of the Market
More than 69% of Indians surveyed indicated they were more inclined than before to make dietary lifestyle changes in 2021 in order to improve their health. The majority of respondents also reported that they were more reliant on doctors and nutritionists for assistance in achieving a healthy lifestyle. Healthier lifestyles and healthier food products are gaining popularity around the world. As a result of the large population base, egg consumption, meat consumption, and dairy consumption have increased significantly. The consequent increase in animal feed demand is expected to propel the demand for butyric acid derivatives worldwide.
However, increasing acceptance of vegan products along with growing plant based foods market are expected to operate as key restraint to the growth of global butyric acid derivatives market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global butyric acid derivatives market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global butyric acid derivatives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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