|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
Scope of the Report
Feed antioxidants are substances used in animal feeds to increase the shelf life of feed by preventing undesirable oxidation in finished feeds and the guts of animals. Feed antioxidants can maintain the nutritional and energy value of the feed and prevent the rancid oxidation of fats. The feed antioxidants market is segmented by type and geography. The report offers market estimation and forecast in value (USD million) for the above-mentioned segments.
|Other Animal Types|
|Rest of North America|
|Rest of Europe|
|Rest of Asia-Pacific|
|Rest of South America|
|Middle-East and Africa|
|United Arab Emirates|
|Rest of Middle-East and Africa|
Key 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.
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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.
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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.
In October 2021, BASF and Cargill expanded their partnership in the animal nutrition business, adding R&D capabilities and new markets to the partners’ existing feed enzymes distribution agreements. The goal is to bring farmers to feed innovations that reduce nutrient waste, improve feed efficiency, and promote animal growth and wellbeing.
In April 2021, Kemin Industries launched a new antioxidant solution, Paradigmox Green, a fully natural blend suitable for the organic livestock production industry in the EMENA (Europe, Middle-East, and North Africa) region.
In February 2021, Alltech and DLG Group (DLG) partnered to deliver greater profitability and efficiency to livestock producers in Scandinavia. Alltech and DLG are finalizing the purchase of the Finnish company Karki-Agri. This joint venture will strengthen their delivery of innovative, field-proven animal nutrition and enhance their feed oxidants range.
Table of Contents
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
5.1.4 Other Types
5.2 Animal Type
5.2.5 Other Animal Types
5.4 North America
5.4.1 United States
5.4.4 Rest of North America
5.5.2 United Kingdom
5.5.7 Rest of Europe
5.6.6 Rest of Asia-Pacific
5.7 South America
5.7.3 Rest of South America
5.8 Middle-East and Africa
5.8.1 Saudi Arabia
5.8.2 United Arab Emirates
5.8.3 South Africa
5.8.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adisseo France SAS
6.3.3 Archer Daniels Midland Company
6.3.4 Cargill Inc
6.3.7 Nutreco NV
6.3.8 Novus International
6.3.9 Kemin Europa
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Feed Antioxidants Market market is studied from 2017 - 2027.
What is the growth rate of Feed Antioxidants Market?
The Feed Antioxidants Market is growing at a CAGR of 5.1% over the next 5 years.
Which region has highest growth rate in Feed Antioxidants Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Feed Antioxidants Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Feed Antioxidants Market?
Alltech Inc., Kemin Industries, Adisseo France SAS, Archer Daniels Midland Co., Cargill Inc. are the major companies operating in Feed Antioxidants Market.