Tributyrin Market Size, Share & COVID-19 Impact Analysis, By Type (Purity 45% and Below, Purity 45% - 99%, and Purity 99% and Above), By Application (Food Additive, Feed Additive, and Others), and Regional Forecast, 2023-2030

The global tributyrin market size was valued at USD 123.3 million in 2022 and is 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. Asia Pacific dominated the tributyrin market with a market share of 45.58% in 2022.

Tributyrin is in high demand, particularly in animal feed manufacturing, and can serve as a prodrug of an anti-cancer agent, butyrate. It is utilized in animal feed products to enhance the gut health of animals. The growth of livestock farms, especially in developing countries such as China and India, is driving the consumption of animal feed. Moreover, developed regions such as Europe have prohibited the use of antibiotics in animal feed. Consequently, animal feed manufacturers are increasingly incorporating tributyrin complexes into the manufacturing process. This governmental support is expected to propel the market growth in the forecast period.

COVID-19 IMPACT

Halted Supply Chain and Logistic Restrictions Impacted Global Market during COVID-19

In 2020, the global lockdown restricted the flow of products and resources, significantly impacting the supply chain. Many countries imposed restrictions on the distribution and transportation of raw materials, disrupting the value chain of manufacturers. The emergence of COVID-19 significantly harmed companies' income generation. Firstly, developing countries such as China and India implemented trade restrictions, resulting in supply shortages for manufacturers between 2020 and 2021.

On the other hand, tributyrin finds applications in animal feed, food products, and medical drugs. During the pandemic, the food, feed, and medical industries were comparatively less impacted than others. The growing public awareness of sanitation, hygiene, and healthy food led to a higher demand for these products from the pharmaceutical and food industries. Tributyrin's role as an anti-cancer agent increased its demand in drugs. Additionally, the growing production of livestock globally during the pandemic had a positive impact on the market.

LATEST TRENDS

Growing Demand from the Pharmaceutical Industry Expected to Propel Market Growth

Tributyrin exhibits anti-cancer properties and serves as an effective solubilizer for docetaxel, positioning it as a potential candidate for cancer drug development. The demand in the pharmaceutical industry for cancer treatment, especially for colon cancer, is notably rising.

Furthermore, the growing awareness about cancer, the emergence of novel treatments, and private and public organizations increasing their initiatives to spread awareness and promote new cancer drugs are propelling market growth. Additionally, factors such as the availability of effective drugs and the growing demand for efficient therapies also positively impact the market's growth rate.

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DRIVING FACTORS

Increasing Demand for Animal Feed is expected to Drive Market Growth

Animal feed improves immunity, promotes good health, and accelerates growth in animals. Serving as a fundamental source of nutrition intake, it holds importance within the animal husbandry sector. Enriched with proteins, carbohydrates, fibers, minerals, acidifiers, enzymes, antioxidants, and antibiotics, this feed substantially enhances the quality of animal-derived products such as meat, eggs, and milk. Furthermore, this feed serves as a source of energy for the animals to support sturdy activity and sustain life processes.

Tributyrin is one of the essential feed additives that help animals to maintain their healthy intestine and growth performance; specifically, it is beneficial for young and vulnerable animals. It provides an appropriate diet, improving health and animal productivity.

In developing regions such as China and India, the surge in animal husbandry activities is a key driver propelling the demand for animal feed. Notably, China and India are the major feed-producing nations globally. The market’s growth in these regions is further bolstered by rising disposable income and the trend of urbanization, fostering a positive market environment during the forecast period. Moreover, the growing population in these countries fuels increased consumption of meat, poultry products, fish, and dairy products, further propelling the tributyrin market growth.

RESTRAINING FACTORS

Volatility in Raw Material Prices are Restraining Market Growth

Butyric acid and glycerol are used primarily as raw materials in the production of tributyrin. However, market growth is hampered by the instability in the prices of raw materials. The fluctuating prices of butyric acid are primarily attributed to supply chain constraints and the monopoly of Chinese manufacturers. Chinese entities partially control the market, leading to variations in import-export prices implemented by the Chinese government. These factors contribute to the volatility observed in raw material prices, consequently exerting a negative impact on the market’s growth trajectory during the study period.

SEGMENTATION

By Type Analysis

Purity 45% - 99% Segment to Dominate Market Due to Growing Use in Food & Beverage Industry

The market is segmented based on type into purity 45% and below, purity 45% - 99%, and purity 99% and above. The purity 45% - 99% segment is expected to dominate the market during the review period. This segment includes products with purities such as 55%, 65%, 75%, and 90%. These products are mainly employed in food and beverage and premium feed applications.

A purity of 45% and below of tributyrin is demanded in poultry feed products. The growing demand for poultry farms in developed and developing countries such as the U.S., China, India, and Brazil is expected to propel the segment's growth.

By Application Analysis

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Feed Additive to Remain Largest Application Owing to Product Preference for Animal Health Benefits

The market is trifurcated based on application into food additive, feed additive, and others. The feed additive segment held the largest tributyrin market share in 2022 and is expected to remain the leader during the forecast period. Tributyrin, as a feed additive, enters the intestinal tract of animals and is slowly released as butyric acid and glycerol under the action of pancreatic lipase. It offers health benefits such as repairing the small intestinal villi of animals and inhibiting harmful intestinal bacteria. It can effectively reduce diarrhea and weaning stress in young animals, increase their survival rate, and aid in daily weight gain.

The food additive segment is expected to hold a notable share in the market during the forecast period. The increasing demand for the product as a flavoring agent in food and the rising R&D activities in the food industry are boosting market growth.

REGIONAL INSIGHTS

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Asia Pacific market accounted for USD 55.1 million in 2022, and is expected to register the fastest growth rate during the forecast period. Tributyrin finds extensive application in meat production in the region. The region’s meat production is notably propelled by densely populated countries such as China and India. Notably, China’s livestock sector has witnessed significant growth in recent years, accompanied by a shift within its population toward animal-based protein consumption. Remarkably, China stands as a dominant producer of livestock products and the largest manufacturer of animal feed globally.

North America market’s expansion is anticipated to propel by the growing healthcare and feed additive industries. The growth is further fueled by shifts in consumer purchasing patterns, heightened market awareness, and elevated demand for advanced anti-cancer medications.

Europe market’s growth is closely linked to the rapid expansion of the animal feed segment in Germany. The region’s prohibition of antibiotics in animal feed has prompted the promotion of antibiotic alternatives by governmental bodies, thereby influencing market dynamics positively.

Latin America market’s growth is due to increased industrialization and the increased adoption of antibiotic substitutes in both animal feed and food additives. Meanwhile, the Middle East & Africa region is poised for significant market growth, primarily driven by Saudi Arabia’s heightened product consumption within the food and feed industries.

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KEY INDUSTRY PLAYERS

Perstorp Leads Europe, While Competitors Bolster Regional Presence and Expand Product Offerings

Perstorp, Hubei Horwath Biotechnology Co., Ltd, Vetagro S.p.A., and Zhejiang Esigma Biotechnology Co., Ltd., are the key players in this market. Notably, Perstorp holds a strong presence in Europe and has expertise in tributyrin production. The company is a leading manufacturer of specialty chemicals and advanced raw materials within the region. Similarly, other market participants have established a substantial regional foothold, fortified distribution channels, and diverse product offerings.

LIST OF KEY COMPANIES PROFILED:

• 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)


• Singao Co., LTD (China)

KEY INDUSTRY DEVELOPMENTS:

• October 2022: Perstorp was acquired by the Petronas Chemicals Group Berhad (PCG) for USD1.54 billion, based on an enterprise value of USD 2.18 billion. Post-acquisition, PCG said it intends to continue preserving and growing the value of Perstorp. The plans include expanding the company's global presence by strengthening its position in the Asia Pacific through PCG’s industrial know-how and substantial customer base.

REPORT COVERAGE

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The market research report provides detailed market analysis and focuses on crucial aspects, such as type, application, and leading companies. It provides quantitative data in terms of value, research methodology for market size estimation, and insights into the latest market trends. It highlights vital industry developments and the competitive landscape. In addition to the above-mentioned factors, the report encompasses various factors contributing to recent market growth.

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