The global animal feed antioxidants market is expected to reach USD 256.9 Million by 2022, according to a new report by Grand View Research, Inc. Increasing importance of animal protein over plant-based counterparts is expected to play a crucial role in driving market growth.
The government of China announced the “Guideline for Beef Industry Development Towards 2020” in September 2013, aimed at increasing domestic beef production capacity from 6.3 million tons in 2013 to 7.86 million tons by 2020. This move is expected to open new avenues for animal feed antioxidants market over the next seven years.
Natural antioxidants reported revenue of over USD 80 million in 2014. Rising importance of tocopherols as a source of vitamin E in countries of European Union, particularly Germany and UK, amid regulatory support for its inclusion in feed industry will have a significant impact on natural product forms in the near future.
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Further key findings from the report suggest:
- Global animal feed antioxidants demand was 58,202.9 tons in 2014 and is expected to grow at a CAGR of 3.7% from 2015 to 2022.
- Demand for animal feed antioxidants was highest in poultry accounting for over 30% of the global volume share in 2014. Antioxidants are added to poultry feed to enhance the vitamin content and reduce the number of free radicals. Rising consumption of poultry products is expected to drive antioxidants market.
- Butylated Hydroxyanisole (BHA) was the majorly used synthetic antioxidant, accounting for over 13 kilo tons in 2014. It is used as a supplement in poultry on account of its property as a free radical scavenging agent.
- Animal feed antioxidants demand in aquaculture exceeded four kilo tons in 2014. Addition of antioxidants to feed helps in oxidizing fat in fish, which conserves vitamins and some nutritional content within the meat. Kemin Industries utilizes PARAdigmOX technology in formulation of its antioxidant product, Blue liquid, for aquaculture applications. The technology is based on ternary solvent system, which provides protection against oxidation in oil and interfaces of fish body.
- In July 2011, the government of Saudi Arabia announced a revised imported feed subsidy list comprising 31 feed ingredients including corn, soybean meal, and sorghum. Aforementioned subsidy allocation towards procurement of feed ingredients in Saudi Arabia is expected to open new opportunities for manufacturers to invest in the region.
- Global animal feed antioxidants industry was dominated by BASF, DSM, ADM, and Novozymes in 2014. These four companies accounted for over one-fourth of global volume of production in 2014. These market players have also integrated their business from raw material supply to manufacturing as well as distribution of antioxidants.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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