Animal Feed Antioxidants Market to Grow on Account of Rising Usage in Animal Feed Industry Till 2022 | Million Insights
FELTON, California, January 15, 2018 /PRNewswire/ --
The global animal feed antioxidants market size was valued at USD 183.4 million in 2014. Rising meat consumption as a result of increasing awareness toward protein diet is expected to promote the importance of good quality feed ingredients for livestock.
Antioxidants are mainly used in animal feed industry for providing protection of essential nutrients such as vitamins, fats, and pigments from deterioration. Furthermore, these ingredients are capable of extending the storage period as well as the durability of animal feed.
Poultry was the largest market, accounting for 34.3% of global share in 2015. Rising demand for frozen chicken as a result of increasing importance of convenience food is expected to increase the consumption of antioxidants among livestock over the forecast period.
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Over the past few years, the governments of South Africa and Nigeria have been initiating various policies aimed for the improvement of poultry farming on a domestic level. The above mentioned favorable policy toward the development of poultry farming on a national level is expected to open to increase new applications over the projected period.
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Synthetic products forms held a market volume of over 50% in 2015. They are used on account of excellent stability as well as enhanced shelf life as compared to natural counterparts. Furthermore, low prices of synthetic ones as a result of their high market visibility as a product is expected to have a positive impact.
Asia Pacific was the largest market, accounting for 51.5% of global industry share in 2016. The firm foothold of the farming base of cattle, pork and poultry species in China, India, Australia and New Zealand is expected to have a positive impact on the market. However, low adoption rates of antioxidants in unorganized cattle farming sector of developing countries including China and India is projected to hamper the industry growth.
Key vendors include DSM Nutritional Product LLC, Adisseo, DuPont, ADM, Novozymes, BASF, Zhejiang Medicine Co. Ltd., Kemin Industries and AB Vista. Product innovation and the establishment of strategic partnerships with ingredient suppliers are expected to remain key critical success factors for industry participants during the forecast period.
Animal Feed Antioxidants Product Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)
? Natural
? Synthetic
? Ethoxyquin
? Butylated Hydroxyanisole (BHA)
? Butylated Hydroxytoluene (BHT)
Animal Feed Antioxidants Livestock Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)
? Swine
? Poultry
? Cattle
? Aquaculture
? Others
Animal Feed Antioxidants Regional Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)
? North America
? Europe
? Asia Pacific
? RoW
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