Pro
Chemicals & Materials
Bio-lubricants Market End-use Industry, By Others
| Label | USD Million |
|---|---|
| 2018 | 1.5771395283335876 USD Million |
| 2019 | 1.6781603511202774 USD Million |
| 2020 | 1.7855451802276077 USD Million |
| 2021 | 1.8951121777453772 USD Million |
| 2022 | 2.011279259416985 USD Million |
| 2023 | 2.134434595363752 USD Million |
| 2024 | 2.264988447105272 USD Million |
| 2025 | 2.403374365073413 USD Million |
| 2026 | 2.55005044601743 USD Million |
| 2027 | 2.7055006528507493 USD Million |
| 2028 | 2.8892993472499073 USD Million |
| 2029 | 3.085512248046685 USD Million |
| 2030 | 3.294972733086834 USD Million |
| 2031 | 3.518569758330804 USD Million |
| 2032 | 3.7572485978668726 USD Million |
Data Source: Wantstats Repository
Market Dynamics
Organic acids have been increasingly used as a feed additive in South Korea’s animal nutrition market due to their advantageous properties. They provide efficient pH control, effective mold reduction from feed, improved metabolic process efficiency, organoleptic enhancement, increased water solubility of essential minerals, and improved feed efficiency. South Korea has witnessed an increased demand for organic acids in their animal nutrition industry due to their numerous advantages. This has been driven primarily by the need to ensure animal health, where organic acids have been shown to deliver improved digestive performance and smoother nutrient absorption. The country has also seen the emergence of a number of domestic manufacturers of organic acids, providing more cost-effective solutions than importing them. The South Korean animal nutrition organic acids market is expected to continue to show an increase in demand over the upcoming years due to the supportive government policies. These include grants and subsidies to aid local production, with the aim of allowing domestically manufactured organic acids to compete in the global market.
In addition, the trend towards the growth of natural feed additives and locally-sourced ingredients is expected to positively influence sales of organic acids, as they supplement natural ingredients and promote feed efficiency. The growth of the South Korean animal nutrition organic acids market is set to be driven further by the increasing awareness of the beneficial features organic acids can bring to the animal feed industry. With the rise of organic production and the sustainability movement, organic acids’ natural characteristics have become increasingly attractive to the South Korean feed industry. As such, the use of organic acids is expected to rise further, as they offer natural alternatives to standard feed additives, while providing superior performance. Overall, the outlook for the South Korean animal nutrition organic acids market is positive with increasing demand expected from the country’s domestic market as well as abroad. With the rise of domestic production, the country’s organic acids industry is expected to benefit from cost-competitiveness, making them attractive to both domestic and international buyers. And with the continued focus on sustainability, organic acids are likely to soon become the preferred feed additive across South Korea.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.