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Report
Feed Antioxidants Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 192 Pages I Mordor Intelligence
The feed antioxidants market is projected to register a CAGR of 5.1% during the forecast period (2022-2027). The COVID-19 pandemic disrupted several markets, including the feed antioxidants market. The pandemic affected the manufacturing process and supply chain networks, resulting in major losses for companies. It also impacted the feed industry severely due to the shutdown of many feed companies and lockdown restrictions. This factor subsequently led to a decrease in the demand for antioxidants. In 2021, several key markets, such as the United States, India, and Brazil, witnessed a second wave of COVID-19 that further disrupted the market. However, the restrictions were relaxed, and the market for feed additives witnessed a slight increase.
Over the long term, growing demand for meat as a high-protein food and increasing awareness about animal health are expected to boost the feed antioxidants market. The industrialization of the livestock industry, which is growing at a healthy rate, is the major driving force behind the growth of the feed antioxidants industry. Increased awareness among the farmers (especially in Asia-Pacific) about the benefits of antioxidants is also augmenting the market's growth. The market is also growing due to the expansion of the animal meat market. Asia-Pacific is the largest geographical segment of the market, largely driven by increased meat consumption.
Feed Antioxidants Market Trends
Growing Demand for Poultry Meat
The growth in the antioxidants market is primarily because of the demand for animal meat, including poultry meat. Increased global poultry meat consumption and the rising health concerns in livestock led to higher consumption of antioxidants. According to the Food and Agriculture Organization, the consumption of poultry meat showed a consistent growth from 2017 to 2020. Animal meat consumption witnessed the highest of 131.2 million metric ton compared to 120.7 million metric ton in 2020. Antioxidants are essential for poultry health. Broiler chickens are frequently exposed to several stressors, including transportation, malnutrition, diseases, and overcrowding in farm factories. These stressors increase the production of reactive oxygen species (ROS), which may adversely affect growth performance, decrease the immune response, increase lipid peroxidation, and lower meat quality. The antioxidant balance can be adversely modulated by sub-optimal diets and nutrient intakes or positively affected by dietary supplementation. Antioxidants such as ethoxyquin, BHA (butylated hydroxyanisole), and BHT (butylated hydroxytoluene) are commonly used as effective technical additives in poultry diets to increase the stability of feed.? The demand for antioxidants is expected to increase in the poultry segment due to the increasing demand for poultry meat.
Asia-Pacific dominates the Global Market
Asia-Pacific is the largest market for feed antioxidants, followed by North America and Europe. In Asia-Pacific, China is the largest market, followed by India. The increased production and consumption of animal and poultry meat are attributed to the market's growth in these countries. In China, poultry meat production increased to 15.1 million metric ton in 2020 from 14.7 million metric ton in 2019. Poultry feed takes up a significant share of antioxidants, followed by dairy and beef feed antioxidants. Leading players in the market focus on the R&D of antioxidants to capitalize on the growth trend. The market's growth is driven by the increasing disposable incomes and meat consumption. According to OECD, meat consumption in India increased by 16% from 2017 to 2021, reaching 4.1 thousand metric ton in 2021. The rising cost of feed worldwide is the key factor driving up demand for feed antioxidants to prevent spoiling and extend the shelf life.
Feed Antioxidants Market Competitor Analysis
The feed antioxidants market is consolidated by major players such as Kemin Industries, Cargill Inc., Alltech Inc., Adisseo SAS France, and Archer Daniels Midland Co. The lack of local companies resulted in the major players holding a larger share of the market. Small players share less than half of the total feed antioxidants market. These major players are investing in new products and improvisation of products, expansions, and acquisitions. Another major investment area is the focus on R&D to launch new products at lower prices.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 BHA
5.1.2 BHT
5.1.3 Ethoxyquin
5.1.4 Other Types
5.2 Animal Type
5.2.1 Ruminant
5.2.2 Poultry
5.2.3 Swine
5.2.4 Aquaculture
5.2.5 Other Animal Types
5.3 Geography
5.4 North America
5.4.1 United States
5.4.2 Mexico
5.4.3 Canada
5.4.4 Rest of North America
5.5 Europe
5.5.1 Spain
5.5.2 United Kingdom
5.5.3 Germany
5.5.4 France
5.5.5 Russia
5.5.6 Italy
5.5.7 Rest of Europe
5.6 Asia-Pacific
5.6.1 China
5.6.2 India
5.6.3 Japan
5.6.4 Thailand
5.6.5 Australia
5.6.6 Rest of Asia-Pacific
5.7 South America
5.7.1 Brazil
5.7.2 Argentina
5.7.3 Rest of South America
5.8 Middle-East
5.8.1 Saudi Arabia
5.8.2 United Arab Emirates
5.8.3 South Africa
5.8.4 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adisseo France SAS
6.3.2 AllTech
6.3.3 Archer Daniels Midland Company
6.3.4 Cargill Inc
6.3.5 Danisco
6.3.6 DSM
6.3.7 Nutreco NV
6.3.8 Novus International
6.3.9 Kemin Europa
6.3.10 Perstorp
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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