Feed Antioxidants Market is expected to garner a revenue of USD 290 million by 2024, with a CAGR of approximately 4% during the forecast period of 2019 to 2024. Feed antioxidants are additives added in feed to prevent the oxidative loss of vitamins, amino acids & pigments, and rancidity of fats in animal feeds. Hike in the prices of livestock feed is amongst the major determinants boosting the demand for feed antioxidants as their utilization ensures the minimum loss of essential nutrients and fats in the feed, resulting in the availability of high-quality feed for high prices. Moreover, usage of antioxidants leads to reduced feed wastage caused due to oxidation and raising awareness regarding the benefits of feed antioxidants are also catalyzing the growth of the global feed antioxidants market. However, the implementation of stringent regulations regarding the use of antioxidants in animal feed is hampering market growth. Market players are introducing products defined as per the age, health, and species of livestock, which is expected to pave the way for profitable growth opportunities for the market players.
The global feed antioxidants market has been segmented based on type, livestock, and region.
By type, the global feed antioxidants market has been classified as beta hydroxy acid, butylated hydroxytoluene, ethoxyquin, and others.
The global feed antioxidants market has also been segregated, on the basis of livestock, into poultry, ruminants, swine, and others.
The global feed antioxidants market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American feed antioxidants market has further been segmented into the US, Canada, and Mexico. The European feed antioxidants market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The feed antioxidants market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The feed antioxidants market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Feed Antioxidants Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Asia-Pacific is expected to dominate the global feed antioxidants market throughout the review period owing to the growth of the feed industry in the region, mainly in China and India. Additionally, surging demand for poultry and dairy products such as milk, eggs, and meat is also an important determinant driving the market growth of feed antioxidants market. However, the growth of the livestock industry in North America is expected to render the highest growth rate to North America feed antioxidants market.
Global Feed Antioxidants Market, by Type
Global Feed Antioxidants Market, by Livestock
Global Feed Antioxidants Market, by Region
Feed antioxidants market is projected to grow at a 4% CAGR between 2019-2024.
The APAC region is expected to dominate the feed antioxidants market.
The feed antioxidants market is predicted to touch USD 290 million by 2024.
Different types of feed antioxidants include ethoxyquin, butylated hydroxytoluene, beta hydroxy acid, and others.
Increasing meat consumption and rising awareness are the key factors driving the feed antioxidants market growth.