Report : North America 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 7.1% CAGR, the North America Natural Butyric Acid Market is speculated to be worth US$ 84.54 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America natural butyric acid market was valued at US$ 55.95 million in 2022 and is expected to reach US$ 84.54 million by 2028, registering a CAGR of 7.1% from 2022 to 2028. Increasing demand from flavor and fragrance industry and growing applications in pharmaceuticals industry are the critical factors attributed to the North America natural butyric acid market expansion.
Butyric acid is a colorless carboxylic acid formed by the bacterial fermentation of carbohydrates and dietary fiber. Butyric acid can be produced from various renewable biomasses, including corn husk, brown algae, wheat straw, sugarcane bagasse, and sorghum stalk. Natural butyric acid has gained significant attention because of consumer demand for green products and natural ingredients in foods, pharmaceuticals, animal feed supplements, and cosmetics. Most notably in North America, natural butyric acid is used as an innovative flavoring due to its immense health benefits, primarily as it competes with other substitutes. Consumption of products with chemicals has increased incidences of lifestyle diseases. Amid growing health concerns among consumers and increasing focus on healthy living, the demand for natural products is growing at a significant pace. Furthermore, natural butyric acid is widely used in fragrances due to its pungent smell, making it suitable for perfumes. Butyric acids are also used to produce esters such as butyl butyrate and ethyl butyrate for use as solvents and fragrances in perfume. The rise in the standard of living, Gen Z and millennial mindsets has resulted in the consumption of products such as perfumes. This increase has resulted in growth in demand for natural butyric acid. Thus, the growing demand for flavors and fragrances and consumers’ shifting attention toward green or sustainable and natural products is rising demand for renewable butyric acid.
On the contrary, rising demand for specialty chemicals hurdles the growth of North America natural butyric acid market.
Based on Application, the North America natural butyric acid market is segmented into dietary supplement, animal feed, flavor and fragrances, chemical intermediates, pharmaceuticals, and others. The dietary supplement segment held 38.5% share of North America natural butyric acid market in 2022, amassing US$ 21.52 million. It is projected to garner US$ 32.27 million by 2028 to expand at 7.0% CAGR during 2022–2028.
Based on country, the North America natural butyric acid market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.5% share of North America natural butyric acid market in 2022. It was assessed at US$ 43.34 million in 2022 and is likely to hit US$ 66.02 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the North America natural butyric acid market are Aurochemicals LLC, Berje Inc, Biosynth AG, Eastman Chemical Co, Elan Chemical Co, Ernesto Ventos SA, Kunshan Odowell Co Ltd, Merck KGaA, Phoenix Aromas & Essential Oils LLC, and Vigon International LLC among others.
- In 2021, Tilley Company, Inc. announced the merger with Phoenix Aromas and Essential Oils. Tilley Company is a distributor based in Baltimore, US; a value-added provider of specialty ingredients; and a portfolio company of SK Capital Partners (SK Capital).
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