The growth of the South America butyric acid market is attributed to the mass production and consumption of animal feed in the region. As per a report by Alltech Global, in 2020, over 100 million metric tons of animal feed were produced in SAM. SAM is one of the largest exporters of meat products globally. The rising demand for high-quality meat worldwide is encouraging livestock farmers in the region to use animal feed to produce more nutritious products.
Butyric acid is used in animal feeds to increase antioxidant levels to accelerate natural healing among broilers and swine. The region houses the largest livestock farming countries, such as Brazil and Argentina. As per the Brazilian Agricultural Research Corporation data, in 2020, Brazil had one of the largest bovine herds in the world, representing 14.3% of the global herds with 217 million heads. Moreover, the country exported 7.4 million tons or 13.4% of the world's total meat, including beef, pork, and poultry. Thus, an emphasis on the mass production of animal feed is fueling the demand for butyric acid in the region.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM butyric acid market at a healthy CAGR during the forecast period.
SAM butyric acid market is analyzed on three fronts: Source, application, and country. Based on source, the market has been segmented into renewable butyric acid and synthetic butyric acid. The renewable butyric acid segment held the largest market share in 2020.
Based on application, the market is segmented into printing inks, animal feed, food flavors and fragrances, chemical intermediates, pharmaceuticals, and others. The animal feed segment held the largest market share in 2020.
Based on country, the SAM butyric acid market is segmented into Brazil, Argentina, and the Rest of SAM.
Alfa Aesar; Eastman Chemical Company; Hefei TNJ Chemical Industry Co., Ltd.; Kunshan Odwell Co., Ltd.; MERCK KGaA; OQ Chemicals GmbH; Perstorp Holding AB; Tokyo Chemical Industry Co., Ltd.; and Yufeng International Co., Ltd. are the leading companies in the SAM butyric acid market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 16.32 Million |
| Market Size by 2028 | US$ 42.73 Million |
| CAGR (2021 - 2028) | 14.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Butyric Acid Market is valued at US$ 16.32 Million in 2021, it is projected to reach US$ 42.73 Million by 2028.
As per our report South America Butyric Acid Market, the market size is valued at US$ 16.32 Million in 2021, projecting it to reach US$ 42.73 Million by 2028. This translates to a CAGR of approximately 14.7% during the forecast period.
The South America Butyric Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Butyric Acid Market report:
The South America Butyric Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Butyric Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Butyric Acid Market value chain can benefit from the information contained in a comprehensive market report.
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