NEWARK, Del, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The animal feed antioxidants market is projected to reach US$ 323.61 Mn in 2023 and US$ 1056.48 Mn by 2033, with a CAGR of 12.56% over the forecast period.
The animal feed antioxidants market is anticipated to experience rapid expansion due to the rising need for antioxidants in the animal feed sector as well as the growing desire for sustainable and affordable nutrition to meet the same needs.
What Is Fueling the Antioxidant Animal Feed Demand?
Antioxidants shield cells from oxidative damage, lower singlet oxygen levels in animals, and prevent lipid peroxidation and oxidative rancidity in animal feed during manufacturing, processing, and storage. The adoption of animal feed antioxidants, particularly those containing antioxidants, vitamins, and minerals, has changed as more attention has been paid to enhancing animal digestive systems.
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Animal feed's freshness, flavour, and color are all preserved by antioxidants. The expanding beef industry around the world is mostly responsible for the increase in sales of animal feed antioxidants. The animal feed antioxidants market is anticipated to rise as a result of rising knowledge about animal health and feed quality and increased demand for animal feed antioxidants products.
Animal Feed Antioxidant Demand in the Asia-Pacific Region
Asia Pacific is considered to be the largest developing market for animal feed antioxidants and additives. Consumption of meat is rising, and commercial farming is expanding in the area, these are the major factors driving the market for animal feed antioxidants.
Animal feed producers are particularly concerned with boosting production capacity to meet the growing demand for animal feed antioxidants and supplements as commercial farming becomes more prevalent. The animal feed antioxidants market expansion in the Asia Pacific is anticipated to be fueled by expanding commercial farming and manufacturers' expanding production capabilities.
The desire of the manufacturers to grow their market share in the animal feed sector will be what drives the demand for animal feed antioxidants in the Asia Pacific animal feed antioxidants market.
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Key Takeaways
- With a 43% revenue share in 2023, the Asia Pacific region has dominated the animal feed antioxidants market.
- In terms of product, the synthetic segment of the market for animal feed antioxidants is expected to have a revenue share of about 61% in 2023.
- Over the projection period of 2023-2033, the market for natural animal feed antioxidants is expected to expand at a CAGR of 7.9%.
- In terms of livestock, the poultry segment of the animal feed antioxidants market had the highest revenue share in 2023, at over 42%.
- Between 2023 and 2033, the dairy animal feed antioxidants market for poultry and cattle is anticipated to expand at a CAGR of 8.1%.
Competitive Landscape
In order to expand their market presence and product offerings on the global market, major producers like Cargill and others are concentrating on enlarging their production facilities as well as forming strategic alliances/partnerships with local producers of animal feed antioxidants.
In order to raise production and improve the quality of their products, manufacturers like Archer Daniels Midland Company and BASF are introducing cutting-edge methods and techniques. The animal feed antioxidants market businesses are investing in R&D to create technologies for producing and processing animal feed that are competitive and flexible.
Recent Development
In November 2021, the Danish biotechnology firm "Novozymes" may purchase the Indian pharmaceutical firm "Synergia Life Sciences." Synergia is renowned for manufacturing natural Vitamin K2-7 and probiotics. The deal is sealed by a $150 Mn payment from Novozymes. The acquisition might be advantageous for Novozymes' functional food division.
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Key Segments
By Product:
- Natural
- Synthetic
By Livestock:
- Swine
- Cattle
- Poultry
- Aquaculture
By Form:
- Dry
- Liquid
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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