Report : Asia Pacific Natural Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Dietary Supplement, Animal Feed, Flavor and Fragrances, Chemical Intermediates, Pharmaceuticals, and Others)
At 6.5% CAGR, the Asia Pacific Natural Butyric Acid Market is speculated to be worth US$ 102.94 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific natural butyric acid market was valued at US$ 70.43 million in 2022 and is expected to reach US$ 102.94 million by 2028, registering a CAGR of 6.5% from 2022 to 2028. Use of natural butyric acid as precursor to biofuels and rising demand for specialty chemicals are the critical factors attributed to the Asia Pacific natural butyric acid market expansion.
There is an increasing interest in using natural butyric acid as a precursor in biofuel production. The growing population and the increasing demand for fossil fuels have led to an overwhelming surge in demand for liquid fuel, which has triggered greenhouse gas emission levels. As a result, research has been directed toward alternative fuel sources in recent years due to increasing petroleum prices and a growing need for clean energy sources. Biofuels have emerged as a sustainable alternative to conventional fuels that reduce greenhouse gas emissions with a secured supply. Further, natural butyric acid has been studied as a renewable green platform chemical that can provide an alternative solution to fossil fuels to reduce environmental concerns. The production of fuels from biomass is important to diminish petroleum dependency and contribute to the build-up of a sustainable bioeconomy. Such developments would offer significant opportunities for the Asia Pacific natural butyric acid market growth.
On the contrary, rising demand for specialty chemicals hurdles the growth of Asia Pacific natural butyric acid market.
Based on application, the Asia Pacific natural butyric acid market is segmented into dietary supplement, animal feed, flavor and fragrances, chemical intermediates, pharmaceuticals, and others. The pharmaceuticals segment held 34.7% share of Asia Pacific natural butyric acid market in 2022, amassing US$ 24.45 million. It is projected to garner US$ 36.33 million by 2028 to expand at 6.8% CAGR during 2022–2028.
Based on country, the Asia Pacific natural butyric acid market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 47.9% share of Asia Pacific natural butyric acid market in 2022. It was assessed at US$ 33.74 million in 2022 and is likely to hit US$ 49.98 million by 2028, exhibiting a CAGR of 6.8% during the forecast period
Key players dominating the Asia Pacific natural butyric acid market are Berje Inc, Biosynth AG, Eastman Chemical Co, Elan Chemical Co, Ernesto Ventos SA, Kunshan Odowell Co Ltd, Merck KGaA, and Phoenix Aromas & Essential Oils LLC among others.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: email@example.com