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fluctuating raw material prices and health hazards associated with butyric acid are likely to hamper the Butyric Acid Market growth during the forecast period.
HYDERABAD, TELANGANA, INDIA, September 27, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Butyric Acid Market size is forecast to reach US$436.2 million by 2026, after growing at a CAGR of 12.1% during 2021-2026. Butyric acid is a carboxylic acid, also known as butanoic acid. The product has an acrid taste and is usually found in the milk of farm animals such as goats, cows, buffalo, and sheep. The rising demand for specialty chemicals in various end-use industries such as pharmaceutical, animal feed, and food & beverage, and personal care industries are driving the market growth during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
This IndustryARC report on the Butyric Acid Market highlights the following areas –
1. The Asia Pacific is expected to register the highest growth during the forecast period (2021-2026). Changing lifestyles, increasing consumer spending, emerging economies, and rapid population growth are the major factors driving the market growth.
2. Butyric acid industrial grade is manufactured by fermentation. In the fermentation process, putrefying cheese is added with starch or sugar and further calcium carbonate is added for neutralizing the acids formed in the procedure.
3. The consumption of butyric acid in animals has been increased significantly in recent years. Butyric acid helps animals to maintain healthy intestine and growth performance, especially in young and vulnerable animals.
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Segmental Analysis :
1. The bio-based segments accounted for approximately 60% of the market share in 2020 and are estimated to grow at a significant CAGR during the forecast period. The consumer inclination towards bio-based products is driving the market growth for butyric acid. Bio-based butyric acid is produced from natural products such as corn husk, sugar, and other natural sources. The easy availability of these raw materials and low cost are supporting the market growth for the bio-based segment.
2. North America region held the largest share in the butyric acid market in 2020 up to 38%, owing to the rapid growth in the food & beverage sector in the region. The presence of well-developed nations such as the U.S. and Canada are driving the market growth in the region.
3. The animal feed segment accounted for more than 30% of the market share in 2020 and is estimated to grow significantly during the forecast period. Butyric acid is the key feedstock for different butyrate salts and glycerin esters. Butyric acid products provide a proper diet for animals, improve health, and helps to grow animals more efficiently.
4. The food & beverage segment accounted for more than 35% of the market share in 2020 and is estimated to grow significantly during the forecast period. The growing population globally is one of the major factors driving the market for the food & beverage segment. Butyric acid is used as a food additive and flavoring agent in the food processing industry.
Competitive Landscape :
The top 5 players in the Butyric Acid Industry are –
1. Eastman Chemical Company
2. OXEA GmbH
3. Tokyo Chemical Industry Co. Ltd.
4. Blue Marble Biomaterials
5. Beijing Huamaoyuan Fragrance Flavor Co., Ltd., Inc.
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