According to a new market research report published by Credence Research, “Butyric Acid Market - Growth, Share, Opportunities & Competitive Analysis, 2016 – 2022”, In terms of revenue in 2014, the global market for Butyric Acid Market was calculated to be USD 120.0 million and is projected to reach USD 329.9 million by 2022, growing at a CAGR of 14.0% from 2015 to 2022.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/butyric-acid-market
The major factors driving the market growth of butyric acid are rising demand from various end user industries, ban on consumption of antibiotics in animal feed in some countries. However, unpleasant smell of butyric acid is the major factor inhibiting the market growth. Rising demand of renewable butyric acid from food and flavors industries can provide huge market potential over the coming years.
By application, rising demand from animal feed segment is influencing the overall market growth. In 2014, it accounted 40% share of the total market and projected to maintain its dominance during the forecast period. It is also one of the fastest growing market. The second biggest application segment is the chemicals intermediate at 23.4% in terms of value in 2014. However, pharmaceuticals segment is projected to witness average growth rates during the forecast period.
By geography, Asia Pacific is the largest and fastest growing market. It is projected to grow at a CAGR of 14.4% from 2015 to 2022. India and China are the two major contributors towards the market growth. It is due to rising demand for meat, and food & flavors, increasing concerns for animal care. Asia Pacific was followed by North America and accounted for 30% share of the market in 2014 in terms of value. The market volume of butyric acid is comparatively low in the RoW region.
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/57817
List of Companies Covered:
- Beijing Huamaoyuan Fragrance Flavor Co., Ltd.
- Blue Marble Biomaterials, LLC
- Oxea GmbH
- Eastman Chemical Company
- Perstorp Holding AB
- Tokyo Chemical Industry Co., Ltd.
- Snowco Industrial Co., Ltd.
- Perstorp Holding AB
- Eastman Chemical Company
- Alfa Aesar GmbH & CO KG
Market Segmentation:
By Application Type
- Application Analysis
- Animal Feed
- Chemical Intermediate
- Food and Flavors
- Pharmaceuticals
- Others
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/57817
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