Kenneth Research, in its repository of market research reports, have recently added a report on the Feed Acidifiers Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Feed Acidifiers Market products.
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The global Feed Acidifiersmarket was valued at USD 1.52billion in 2016 and is projected to reach USD 2.59billionby 2025, growing at a CAGR of 6.1% from 2017 to 2025.
The ban on in-feed antibiotics is the major reason behind growing demand for feed acidifiers. The growing importance surrounding gut health has forced manufacturers to include feed acidifiers in their formulations. The rapidly evolving animal husbandry industry in Asia Pacific is expected to have boost consumption.
1. Market Drivers
1.1 Product innovation in animal feed industry
1.2 Ban on antibiotics by European Union
2. Market Restraints
2.1 Rise in prices of feed ingredients
2.2 Rise in usage of artificial growth inducing hormones
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