Animal Feed Antioxidants Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2024: Global Market Insights Inc.
Global meat production was over 300 million tons in 2015 owing to drive animal feed antioxidants market. Poultry industry dominated the global animal feed antioxidants market share followed by the cattle industry. These fields will see a substantial growth in demand from 2016 to 2024.
Rising domestic demand for livestock products, mainly meat, especially chicken, mutton and beef, may positively impact the global demand. The continuous demand for milk and egg will grow the market for animal feed antioxidants.
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Growing diseases in the farm and domestic animals is also a concern that will propel the market. It has been noted that oxidative rancidity or lipid peroxidation results in a serious decrease in the energy value of fat or oil. This causes several diseases in the animals. Increasing awareness and preference amongst animal breeders to offer disease resistant traits in the animal feed for better quality meat will affect the market. It helps farmers in long run by reducing cost of feeds and prevents wastage owning to boost product demand. They have variety of products of various concentrations suitable available for different environmental conditions and type of feeds.
Increasing availability of frozen foods in shopping malls and food joints may propel meat consumption owing to drive market. Improved quality eating of consumers has contributed in meat consumption owing to drive product demand. However, increasing demand for corn in food, beverages & bio fuels, and oilseeds may lead to a crunch in the availability of raw material for antioxidant production. This may negatively impact animal feed antioxidant market.
Animal feed antioxidants type includes natural and synthetic. Synthetic animal feed antioxidants market dominated the industry and accounted for over half of the global share. Out of the various synthetic antioxidant chemicals tested so far, ethoxyquin (1,2-dihydro-6-ethoxy-2,2,4- trimethylquinoline), BHA (butylated hydroxyanisole) and BHT (butylated hydroxytoluene) are the most effective antioxidants used in animal feeds. Of these, ethoxyquin is the most efficacious, closely followed by BHT and BHA. However, drifting preference from synthetic to bio based antioxidants has increased scopes for manufacturers. Volatile petrochemical feedstock prices may compel market participants to produce natural antioxidants such as tocopherols. Moreover, stringent government policies have positive impact on natural products.
Asia Pacific led by China and India dominated the animal feed antioxidants market and accounted for over a third of the global consumption. Hot & humid climatic conditions favouring livestock industry drives product demand. Increasing consumption of chicken over beef according to religious acceptance may drive livestock industry. North America, led by the US, is a notable contributor to the market. Rapid industrialisation and increase in protein & meat consumption drives product demand. Regulatory inclination may increase market penetration such additives in future.
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Presence of major meat manufacturers such as Tyson, Cargill, National Beef, and JBF may also positively impact product demand. Strong manufacturing units for pork meat in Europe especially in France and Germany may drive animal feed antioxidants market volume. Latin America, led by Brazil is the fourth largest producer of meat with estimated 25 million tons of production. Excessive consumption of red meat in Mexico may drive market demand. African government in countries especially in South Africa & Nigeria has implemented business plan for poultry in domestic level owing to drive animal feed antioxidants market share.
Major animal feed antioxidants market share contributors include BASF, DSM Nutritional, and DuPont. Other significant participants are AB Vista, Adisseo, Novozymes, Zhejiang Medicine Co. Ltd., and Kemin Industries.
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