PUBLISHER: Market Research Future | PRODUCT CODE: 1422187
PUBLISHER: Market Research Future | PRODUCT CODE: 1422187
Synthetic butyric acid stands as the major segment in the Europe & Asia-Pacific butyric acid market, generating a substantial revenue of USD 93.0 million by 2022. Synthetic butyric acid is a chemically synthesized butyric acid that is mostly utilized in industry.
Moreover, technological advancements continue to drive growth in this segment. Innovations in manufacturing of butyric acid techniques and the goal of achieving sustainability will give new dimensions to the growth. On the other hand, the renewable butyric acid which is produced from sugarcane and corn husks is anticipated to expand at a CAGR of 13.2% by end of 2032.
The Europe & Asia-Pacific butyric acid market is driven by increasing use of butyric acid in the animal feed sector. Increasing focus on improving animal raising capacity in response to increased demand for various animal products. The need for animal feed is rising as the dairy, chicken meat, and aquaculture industries grow. As a result, the demand for butyric acid, which is utilized in animal feed, is growing. The other factor influencing demand is rapid surging demand in the food industry. Butyric acid is a widely used multifunctional ingredient in the food industries and is also used as a flavoring agent in bakery products including wafers, crackers, and cakes.
While the use of butyric acid in the pharmaceutical industry is also expected to boom market expansion opportunities as butyric acid is used in a range of products due to the benefits it gives. The presence of stringent government regulation on the grade type produced especially food grade and pharmaceutical grade and the health hazards related to exposure or consumption of larger amounts of butyric acid is expected to pose as a challenge to the market growth prospects during the forecast period.
Based on product types, Butyric Acid market is segmented into Synthetic Butyric Acid and Renewable Butyric Acid. By Application, the market is segmented into Chemical Intermediates, Animal Feed, Pharmaceuticals, Food & Flavors, Perfumes, and Others. The report on the Butyric Acid market has been segmented based on region as Europe and Asia Pacific.
Perstorp Holding AB, Eastman Chemical Company, Metabolic Explorer, OQ Chemicals GmbH, Tokyo Chemical Industry Pvt. Ltd., Spectrum Chemical, DAYANG CHEM (HANGZHOU) CO., LTD, RX Chemicals, Sisco Research Laboratories Pvt. Ltd., and Yufeng International Group Co., Ltd.
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