FEED ACID MARKET ANALYSIS

Feed Acid MarketSize and Trends

The global feed acid market is estimated to be valued at US$ 1,909.4 million in 2022 and is expected to exhibit a CAGR of 6.7% over the forecast period (2023-2030).

Market Trends:

Continuous product launch by key players in the market for meeting the demand is one of the current trends and this is expected to foster the market growth of feed acid. For instance, in October 2022: The partnership between Evonik and BASF allowed Evonik certain non-exclusive licensing rights to OpteinicsTM, a digital solution to improve comprehension and reduce the environmental impact of the animal protein and feed industries.

Increasing disposable income coupled with the changing eating habits of consumers is contributing to the market growth of feed acids. This is also attributed to the growing health and wellness trend and increasing adoption of a healthy lifestyle among consumers. Moreover, increasing spending on food meat products due to growing health awareness along with the rising demand for high protein-rich food products is again expected to foster the market growth of the feed acids in the near future.