Tributyrin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Tributyrin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Tributyrin Market

The tributyrin market size was valued at USD 123.3 million in 2022, and the market is now projected to grow from USD 136.2 million in 2023 to USD 256.4 million by 2030, exhibiting a CAGR of 9.5% during the forecast period of 2023-2030.

The COVID-19 pandemic affected the availability of raw materials through lockdowns across the globe which affected transport and processing of materials, particularly to most manufacturing industries that relied on raw material imports mainly from developing countries such as China and India in the year 2020. The tributyrin market growth throughout the pandemic happened because of its functions as an animal feed supplement and a component of foods and medicinal products. With the advancement and increased emphasis on health and hygiene and its products being sold as anti-cancer substances the use of chemicals in the production of medicine increased. The increase in livestock output also led to an increase in the pull force of the industry since it triggered demands on some other products such as feed production lines.

The increasing need for animal feed, primarily in Asian countries including China and India, constitutes market expansion. Tributyrin, a major feed supplement, improves the gut health and performance of animals, especially the growing ones and the sick. Higher animal husbandry activities, rapid urbanization and growing consumption of meat and dairy products in these regions are driving tributyrin market share. China and India, being large manufacturers and exporters of feeds are expected to grow.

Furthermore, because tributyrin has anti-cancer effects and improves the solubility of docetaxel, it is worth further developing as a cancer drug, especially for colon cancer. Thus, the rapid demand for effective anticancer drugs in the pharmaceutical industry is a key stimulant to market growth. Such developments as cancer awareness and newer efforts from cancer-fighting organizations for advanced treatments also contribute to it. Also, the emergence of effective drugs and the requirement for efficient therapies have a positive impact on market growth. In conclusion, tributyrin is well-placed to meet these demands as they increase.

Comprehensive Analysis of Tributyrin Market

The tributyrin market and chemicals & advanced materials industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated by type and by application. The type includes, Purity 45% and Below, Purity 45% - 99% and Purity 99% and Above. The application includes, Food Additive, Feed Additive and Others.

The Asia Pacific market held USD 55.1 million in 2022 and is expected to record the fastest-growing growth rate throughout the forecast period. Tributyrin is a popular feed supplement promotes gut health and performance in animals, especially those growing or sick. The high population densities of countries including China and India notably drive the region’s meat production. It is also important to point out that China has experienced a rather dynamic increase in livestock production over the last decade, coupled with increased demand for animal-source foods among the Chinese population. Notably, China’s export share of livestock products is exceptionally high and has become the world’s biggest animal feed producer.

The key industry players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Perstorp (Sweden), Hubei Horwath Biotechnology Co., Ltd (China), Vetagro S.p.A. (Italy), Zhejiang Esigma Biotechnology Co., Ltd. (China), Guangdong VTR Bio-Tech Co., Ltd. (China), Beijing Challenge International Trade Co., Ltd. (China) and Singao Co., LTD (China). These market players provide a level-playing competitive landscape.

In October 2022, Petronas Chemicals Group Berhad bought Perstorp at USD 1.54 billion which is equivalent to the Enterprise value of USD 2.18 billion. After the acquisition, PCG stated that Perstorp would uphold and enhance the value of its shareholder investments. These plans include adding new strategic markets by enhancing PCG’s industrial expertise and significant customer portfolio in the Asia Pacific.

Segmentation Table

Global Tributyrin Market Scope

Study Period 2019-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 9.5% from 2023 to 2030

Historical Period 2019-2021

Unit Value (USD Million), Volume (Kiloton)

Segmentation By Type, Application, and Region

By Type Purity 45% and Below

Purity 45% - 99%

Purity 99% and Above

By Application Food Additive

Feed Additive

Others

By Region North America (By Type, Application, and Country)

U.S.

Canada

Europe (By Type, Application, and Country)

Germany

France

U.K.

Italy

Russia

Rest of Europe

Asia Pacific (By Type, Application, and Country)

China

Japan

South Korea

India

Australia

China

Taiwan

Indonesia

Thailand

Malaysia

Rest of Asia Pacific

Latin America (By Type, Application, and Country)

Mexico

Brazil

Argentina

Rest of Latin America

Middle East and Africa (By Type, Application, and Country)

Turkey

Saudi Arabia

UAE

Rest of Middle East & Africa


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