Animal Feed Antioxidants Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Natural, Synthetic), By Livestock (Poultry, Swine, Cattle, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Dec 2022
- Report Code : KSI061612312
- Pages : 130
The animal feed antioxidants market is projected to grow at a CAGR of 3.61% to reach US$567.385 million by 2027, from US$442.662 million in 2020.
The expanding global population and urbanization are driving up demand for higher-quality animal feed ingredients. Growing worldwide meat consumption as a result of the fast move toward a protein-rich diet is propelling the animal feed antioxidants industry forward. Antioxidants are utilized as animal feed additives for a variety of reasons, including cell protection, singlet oxygen reduction, and so on. Antioxidants are classified into two types: natural and synthetic. These solutions can preserve feed from oxidation while also increasing shelf life and assuring safety and quality.
Rising occurrences of epidemic outbreaks are also putting pressure on feed makers to incorporate antioxidants, which is helping the animal feed antioxidants market develop. Growing concerns about the use of synthetic chemicals in the feed are raising R&D investment in natural components, which will support the growth of the animal feed antioxidants market during the forecast period. This research study investigates current market trends in demand, supply, and sales, as well as recent changes.
The growing concern about animal health and feed safety is one of the primary factors driving the demand for animal feed antioxidants.
The rise in meat output in India, China, and the Middle East is likely to play a key role in the market due to increased consumer awareness of protein-rich goods and the simple availability of cattle on a domestic level. Because of religious approval, the rising consumption of chicken meat over other meats of bovine and swine species is expected to improve livestock penetration, which will boost market growth. African governments, notably in Nigeria and South Africa, have declared the adoption of a business strategy to boost domestic chicken production. As a result of the government intervention, market penetration is likely to expand throughout the projection period. Similarly, in terms of developing countries, India alone uses about 80,000 metric tonnes of milk each year. Furthermore, dairy product meat consumption is increasing year after year. All of the aforementioned variables are expected to boost the respective industry in the near future.
Moreover, long-term growth in the feed antioxidants industry is predicted to be driven by rising meat consumption as a high-protein product and rising knowledge about animal health. The feed antioxidants sector is being propelled forward by the urbanization of the livestock sector, which is expanding at a steady rate. Farmers' increased understanding of the advantages of antioxidants is also boosting market expansion.
Increased product launches and expansion of distribution channels
The growing expense of feed globally is pushing up demand for feed antioxidants to prevent spoilage and improve shelf life. Furthermore, several innovative product launches have been made by companies that have boosted market sales along with generating demand. For instance, the China-based livestock feed additive manufacturer "Bluestar Adisseo," also known as Adisseo, announced the successful purchase of the Netherlands-based feed additive firm "FRAmelco Group" in November 2020. Adisseo made the acquisition primarily to enhance its goal to control the animal additives industry. The firm operates three factories in the Netherlands, Spain, and Thailand. Furthermore, the company earns about 30 million pounds each year. Similarly, The Danish biotechnology business "Novozymes" announced to buy of the Indian pharmaceutical company "Synergia Life Sciences" in November 2021. Synergia is well-known for producing probiotics and natural Vitamin K2-7. Novozymes completes the transaction with a $150 million payment. Novozymes' functional food division will benefit from the purchase. Moreover, companies have expanded their distribution channels which have majorly influenced market sales and profitability. For instance, BASF and Cargill expanded their animal nutrition relationship in October 2021, adding R&D capabilities and additional markets to the companies' current feed enzymes distribution agreements. Farmers were introduced to feed technologies that decrease nutrient waste, enhance feed efficiency, and boost animal development and well-being.
Key Market Developments
- In February 2021, Alltech and DLG Group (DLG) joined forces to improve the profitability and efficiency of cattle farmers in Scandinavia. Karki-Agri, a Finnish enterprise, is being purchased by Alltech and DLG. This collaboration will increase their offering of new, field-tested animal nutrition and expand their feed oxidant portfolio.
- In October 2021, BASF and Cargill expanded their animal nutrition relationship, adding R&D capabilities and additional markets to the partners' current feed enzyme distribution agreements. Farmers will be introduced to feed technologies that decrease nutrient waste, enhance feed efficiency, and boost animal development and well-being.
- In October 2019, Layn Corp. released its TruGro AOX portfolio of natural antioxidants to be used in animal feed on October 8. TruGro AOX may be used to replace synthetic antioxidants in pet diets, animal feed, additives, and fats and oils without increasing the amount of the substance. Layn's TruGro AOX range, according to the business, is manufactured using botanical extracts that have been evaluated and certified for antioxidation efficacy in comparison to other synthetic antioxidants. For a clean label option, the substances naturally extend shelf life and slow the oxidation process.
Animal Feed Antioxidants Market Scope:
|Market Size Value in 2020||US$442.662 million|
|Market Size Value in 2027||US$567.385 million|
|Growth Rate||CAGR of 3.61% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Type, Livestock, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||BASF, DuPont, Cargill, Incorporated, Kemin Industries, Inc., BTSA, Eastman Chemical Company, Alltech, Adisseo, Novozymes A/S, Koninklijke DSM N.V.|
|Customization Scope||Free report customization with purchase|
- By Type
- By Livestock
- By Geography
- Europe Middle East and Africa
- United Kingdom
- Asia Pacific
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ANIMAL FEED ANTIOXIDANTS MARKET, BY TYPE
6. ANIMAL FEED ANTIOXIDANTS MARKET, BY LIVESTOCK
7. ANIMAL FEED ANTIOXIDANTS MARKET, BY GEOGRAPHY
7.3. Europe Middle East and Africa
7.3.1. United Kingdom
7.4. Asia Pacific
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.3. Cargill, Incorporated
9.4. Kemin Industries, Inc.
9.6. Eastman Chemical Company
9.9. Novozymes A/S
9.10. Koninklijke DSM N.V.
Kemin Industries, Inc.
Eastman Chemical Company
Koninklijke DSM N.V.
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