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Rise in Meat Consumption Worldwide has boosted the Growth of the Animal Feed Antioxidants Market
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The report points out that rise in meat consumption worldwide has boosted the growth of the global animal feed antioxidants market. The increasing incidence of disease outbreaks among livestock has fuelled the demand for feed antioxidants. However, difficulties in working with natural antioxidants, along with stringent government regulatory structure and intervention will hinder the growth of the market during the forecast horizon. The global animal feed antioxidants market has a huge opportunity to grow with the increasing preference for synthetic antioxidants over natural antioxidants. The growing trend of blending different antioxidants is expected to reduce costs of animal feed antioxidants significantly.
In terms of product type, the report categorizes the global animal feed antioxidants market into natural and synthetic feed antioxidants. Synthetic feed antioxidants have been further divided into ethoxyquin, butylated hydroxytoluene (BHT), and butylated hydroxy anisole (BHA). While natural antioxidants are formulated using natural raw materials such as rapeseeds, corn, and oilseeds that are mixed with grains such as soya, synthetic animal feed antioxidants are made up of pure substances that have constant compositions.
Antioxidant use in animal feed also depends upon the climate. In humid climates of Asia and South America, the increased levels of moisture in the air make the feed more susceptible to oxidation which may result in deterioration of feed quality. The revenue generated by global animal feed antioxidants in 2011 was USD 162.4 million and is estimated to reach USD 216.8 million in 2018, growing at a CAGR of 4.2% for the next five years. Feed antioxidants are of two types, natural and synthetic. Natural antioxidants are made by using raw materials such as oilseeds, corn, rapeseed and others which are blended with various ingredients such as soya and grains to match the requirements laid down by the FDA. Synthetic antioxidants are made as pure substances of constant composition and are applied in well defined mixtures with different pure substances.
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Some of the factors driving the growth of the market are rise in global meat consumption and disease outbreaks. But stringent government regulation and the difficulties working with natural antioxidants are some of the restraints for growth of the market. There are different antioxidant firms operating in the industry with different products and market focus. The major players of the markets are BASF SE, DSM, ADM, and Danisco.
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