What's driving the Ethoxyquin Market Trends? | Top Key Players are Archer Daniels Midland Company, Merck KGaA, Perstorp Group, Kemin Industries, Cargill, and Royal DSM

Ethoxyquin market size may grow owing to rising adoption of pets, food trade across the globe, fish meals, need for preservatives in poultry, growing feed prices and significant demand in agricultural sector. Global aquaculture market size is likely to surpass USD 225 billion in the forecasted period on account of its increased demand in fish meal products in India, China, Indonesia, and high consumption of shrimps & fish which should increase market share.

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Ethoxyquin is an antioxidant used in food preservatives to control scald on pears after harvest. The product is extensively used as an insecticide, fungicide, anti-degradation agents, plant growth regulators and herbicides which make market flexible and profitable. Global market demand is also experiencing considerable rise due to increased need of efficient preservation of poultry & fish meals. Significant rise in the food trade is likely to boost ethoxyquin market growth in the forecasted timeframe.

Ethoxyquin market is segmented into pet food preservative, pesticides, and spice color preservatives. Increased pesticide usage in agriculture sector to minimize crop production losses and significant nutritional potentials of the product should boost market growth. Global pesticides market size is likely to surpass USD 310 billion by 2025 on account of high yield per acre. Various government initiatives for weed management to protect crops would further boost product market.

Asia Pacific, led by Japan, South Korea, Australia, Malaysia and China ethoxyquin market size is likely to increase in the forecasted period owing to large consumption as antioxidant in fish, meat products. Removal of the ban on shrimp imports from India by the WTO may further increase market growth. India shrimp export surpassed USD 5 billion in 2018 owing to weak production dynamics in other shrimp producing countries, should stimulate product market.

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North America, led by Canada, Mexico and U.S. ethoxyquin market value may grow significantly on account of lesser regulations in regard to usage of antioxidant. In the regional market ethoxyquin is added in pet food preservatives and pesticides. The U.S. pesticides market is likely to surpass USD 2.5 billion in the forecasted timeframe owing to its increased demand in commercial, agricultural and consumer segment, which should augment product demand in the forecasted period.

Ethoxyquin market share is competitive and moderately fragmented. The major players in the market are Archer Daniels Midland Company, Merck KGaA, Perstorp Group, Kemin Industries, Cargill, and Royal DSM. Various companies are engaged in strategic acquisitions, agreements, partnerships and expansions to ensure market growth and increase profitability.

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