"Feed Antioxidants Market by Segment: A Look into 2023-2030 Growth Trends"
Feed Antioxidants Market Overview:
The global feed antioxidants market is anticipated to boost with the rise in awareness regarding available benefits to livestock from the feed antioxidants. Additionally, increased demand for feed antioxidants from the bulk feed manufacturers to overcome the effect of feed oxidation is pushing the market growth. The developing economies of the Asia Pacific region, are witnessing a high demand for feed additives such as feed antioxidants, owing to high demand for meat and meat products.
Feed Antioxidants Market Size was valued at USD 0.38 billion in 2022. The Feed Antioxidants market industry is projected to grow from USD 0.39 Billion in 2023 to USD 0.49 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023–2030).Feed antioxidants market is observing an exponential growth based on the high use in the feed industry. Additionally, the feed antioxidants market is growing due to increasing meat & meat products consumption. Moreover, growing demand for high-quality animal feed and increasing awareness regarding livestock health, among livestock holders, is driving the growth of global feed antioxidants market.
Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market. However, the toxicity caused by the use of synthetic chemicals used in feed to overcome oxidation of feed may hamper the feed antioxidants market over the review period. The market players are responding to these new opportunities by introducing new products, which are naturally prepared and have lesser side-effects on the livestock performanve, which has boosted the share of natural feed antioxidants in the global market .Consuming more processed food will drive market expansion. Urbanization is booming, and meat consumption is rising worldwide are the key market drivers enhancing the Feed Antioxidants market growth.
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Downstream analysis:
The global feed antioxidants market is segmented into type and livestock.
By type, it is segmented into beta hydroxy acid, butylated hydroxytoluene, ethoxyquin, and others. Among all the types, the beta hydroxy acid segment is dominating the market.
By livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products, globally.
Competitive analysis:
The major players in the feed antioxidants market:
- Cargill Inc. (U.S.)
v I. du Pont de Nemours and Company (U.S.)
v Alltech, Inc. (U.S.)
v Adisseo France SAS (France)
v Danisco A/S (Denmark)
v Koninklijke DSM N.V (the Netherlands)
v Kemin Europa NV (Belgium)
v Perstorp Holding AB (Sweden)
v Novus International, Inc. (U.S.)
v Nutreco N.V. (the Netherlands)
Regional Analysis:
The global feed antioxidants market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the feed antioxidants market, followed by North America. Increasing livestock diseases, growing health awareness towards feed antioxidants, and increased consumption of meat products have surged the demand for feed antioxidants. Moreover, increased demand for superior quality animal feed is driving the market of feed antioxidants in the Asia Pacific region.
Furthermore, U.S. dominates the North America feed antioxidants market. Increased demand for meat products in North America is likely to boost the feed antioxidants market over the forecast period. Additionally, the major key players are actively involved in the research & development to enhance the product functionality.
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