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Allied Market Research

Butyric Acid Market Size by Application (Animal Feed, Chemicals Intermediate, Food & Flavors, Pharmaceuticals, Perfumes, and Others), and Type (Synthetic Butyric Acid, Renewable Butyric Acid, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12115
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Sep 2021 | 88 Views
   
Author(s) : Eswara Prasad
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COVID-19

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Butyric Acid Market Analysis 2021-2028

Butyric acid, also known as butanoic acid, is a carboxylic acid with butanoates and butyrates as esters and salts. It has a foul odor and a bitter taste, and is commonly found in the milk of farm animals such as buffalo, sheep, and goats. Butyric acid is produced industrially by fermenting starch or sugar with the addition of putrefying cheese, followed by the addition of calcium carbonate to neutralize the acids formed during the process. This fermented butyric acid can also be found in parsnip as octyl butyrate and hogweed oil as hexyl butyrate. Because butyric acid is also produced at a low rate, yield, and concentration, the traditional butyric acid fermentation process is not yet economically viable. Chemical synthesis of butyric acid is widely preferred due to the availability of starting materials and lower production costs. Although fermentation is more expensive than chemical synthesis of butyric acid, it has gained traction due to rising consumer demand for natural and organic products as opposed to chemically synthesized products, as well as a rapid increase in crude oil prices required for chemical synthesis of butyric acid. Butyric acid production has increased because of waste processing and the agriculture industry. It is used in a variety of applications, including the food, chemical, and pharmaceutical industries. Butyric acid has a wide range of applications in the chemical industry, and it is in high demand as a precursor to biofuels.

Market Scope and Structure Analysis

Report Metric

Details

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

 Application, Type, and Region

 Regions Covered

 North America, Europe, Asia-Pacific, and LAMEA

 Companies Covered

Eastman Chemical Company, OQ Chemicals GmbH, Perstorp Holding AB, Tokyo Chemical Industry Co., Ltd, and Merck KGaA

 

COVID-19 Impact analysis

COVID-19 pandemic outbreak has had three major effects on the global butyric acid market: directly affecting production and demand, causing supply chain and market disruption, and having a financial impact on firms and financial markets. The outbreak has had a wide-ranging impact, including flight cancellations, travel bans and quarantines, restaurant closures, and restrictions on all indoor events; a state of emergency declared in over forty countries; a massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about the future. This has affected the butyric acid market.

Top Impacting Factors

The rise in demand for animal feed, particularly for swine and poultry, is driving growth in the Butyric Acid Market. In addition, the demand for renewable butyric acid in the food and flavor and pharmaceuticals sectors is increasing. With the increase in petroleum prices, as well as the continuous reduction in petroleum availability, coupled with the growing demand for clean energy sources, the focus on research and development activities has shifted to alternative fuel sources. Biofuels have numerous environmental benefits, including supply security, reduced greenhouse gas emissions, and long-term viability. Because biofuels are one of the most promising sources of future gasoline replacement, much attention has been paid to bio-butanol, which is primarily used as an industrial solvent while also offering certain advantages over ethanol in transportation fuels. These factors have significantly influenced the rising demand for butyric acid in biofuels.

Market Trends

  • Butyric acid is becoming increasingly popular as an animal feed ingredient. Butyric acid is the primary feedstock for various butyrate salts and glycerin esters, also known as butyrins. Salts are added to feed premixes as fat-coated or uncoated administrative forms to deliver active ingredients to the target organs in the animal's intestine.
  • Rising demand from various end user industries, as well as a ban on the use of antibiotics in animal feed in some countries, are the major factors driving the growth of the butyric acid market. However, the unpleasant odor of butyric acid is a major impediment to market growth. Rising demand for renewable butyric acid from the food and flavor industries could provide a massive market opportunity in the coming years.
  • The increasing demand for packaged food because of changing consumer trends is a driving factor for market growth. As the number of meat consumers grows, so will the production of butyric acid in final products, which drives the market.
  • Significant growth in the pharmaceutical industry around the world is one of the key factors driving the market's positive outlook. Butyric acid is used in the production of pharmaceutical drugs that aid in weight management as well as the treatment of cancer and irritable bowel syndrome (IBS).
  • The increased use of butyric acid in animal feed in various regional markets has resulted from the rising incidences of animal diseases. In Asia, meat consumption per capita remains very low when compared to developed regions such as Europe and North America. However, due to rising incomes and urbanization, meet consumption in the region is expected to skyrocket.
  • Butyric acid is a beneficial ingredient for the animal feed industry because it is necessary to provide nutritious ingredients to animals. Butyric acid products aid in the improvement of animal health, the provision of a proper diet for animals, and the efficient rearing of animals.
  • Some of the major manufacturers have entered into a number of collaborations and agreements with other companies in order to market new products and gain a larger market share.
  • The butyric acid market is partially consolidated, with a few major players controlling a sizable share of the market. Eastman Chemical Company, OQ Chemicals GmbH, Perstorp Holding AB, Tokyo Chemical Industry Co., Ltd, and Merck KGaA are a few of the major players.

Key Segments Covered

Segment

Sub-segment

 Application

 

  • Animal Feed
  • Chemicals Intermediate
  • Food & Flavors
  • Pharmaceuticals
  • Perfumes
  • Others

 Type

  • Synthetic Butyric Acid
  • Renewable Butyric Acid
  • Others

 Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

 

  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

 


Key Benefits of the Report

  • This study presents the analytical depiction of the butyric acid market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the butyric acid market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the butyric acid market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed butyric acid market analysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in the Butyric Acid Report

  • Who are the leading market players active in the butyric acid market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is butyric acid?
  • What does butyric acid allow organizations to achieve?
  • Which technologies combine to make butyric acid critical organizational asset?
  • What are the current trends and predicted trends?
 
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