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Swine Feed Acidulants Market Size, Share, Industry, Forecast and Outlook (2023-2030)
Swine Feed Acidulants Market Report SizeGlobal Swine Feed Acidulants Market Projected to Reach USD 1.90 Billion by 2030, with a CAGR of 6.8%
The Global Swine Feed Acidulants Market demonstrated robust growth, reaching USD 1.12 billion in 2022 and is anticipated to achieve USD 1.90 billion by 2030, recording a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2023 to 2030.
Market Drivers
The surge in global pork consumption has spurred an increased demand for swine feed acidulants, with a notable rise in pig populations, especially in emerging economies like China and India. This trend is expected to further drive the growth of the swine feed acidulants market. Factors contributing to this growth include heightened awareness of the benefits of swine feed acidulants, the prevalence of animal diseases, the ban on antibiotic growth promoters, and the expanding swine population worldwide. Additionally, consumer concerns regarding the safety of animal feed ingredients, a shift towards natural growth promoters, rapid industrialization, and increased awareness of swine health are influencing market dynamics.
Global Impact
The World Organisation for Animal Health (WOAH) reports that African swine flu has affected over 1.125 million pigs and 36,000 wild boars across 39 countries, emphasizing the critical need to maintain the health and safety of swine populations globally.
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Market Scope and Summary Metrics
CAGR: 6.8%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (USD)
Segments Covered: Type, Fruit, Form, Compound, Nature, Distribution Channel, Packaging, Function, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Market Dynamics and Trends
Increasing Demand for Pork Meat: The rising global population, predicted to reach 9.7 billion by 2050, presents a growth opportunity for the swine feed acidulants market as meat consumption is expected to increase by 60% by 2050.
Growing Demand for Swine Feed Acidulants: Factors such as increased awareness, rising prevalence of animal illnesses, ban on growth-promoting antibiotics, and a growing global pig population are driving the demand for swine feed acidulants.
Higher Prices of Raw Materials With Low Supply: Fluctuating and increasing prices of raw materials, such as citric acid, are anticipated to hamper the expansion of the swine feed acidulants market.
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Segment Analysis
The global swine feed acidulants market is segmented based on type, fruit, form, compound, nature, distribution channel, packaging, function, and region. The segment responsible for pH control function holds a significant portion of the market, driven by the need to maintain optimal pH levels in swine digestive tracts.
Geographical Penetration
Asia-Pacific Dominates: The Asia-Pacific region, particularly India and China, is leading the swine feed acidulants market, supported by readily available microbial products, increasing research and development activities, and government initiatives to promote agricultural industry growth.
Companies and Competitive Landscape
Major players in the global swine feed acidulants market include BASF SE, Kemin Industries, Inc., Perstorp Holding AB, DSM, ADM, Pancosma, Nutrex, ADDCON GmbH, Novus International, Inc., and Impextraco NV.
Related Reports:
Feed Flavors Market: https://www.datamintelligence.com/research-report/feed-flavors-market
Food Acidulants Market: https://www.datamintelligence.com/research-report/food-acidulants-market
Swine Feed Market: https://www.datamintelligence.com/research-report/swine-feed-market
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