Fort Collins, Colorado, April 29, 2024 (GLOBE NEWSWIRE) --
Climate change and demand for healthy animal fodder is expected to drive the industry growth.
The impact of unpredictable weather patterns and climate change on crop production is a significant driver. Increasing global temperatures and high levels of greenhouse gas emissions are anticipated to have adverse effects on crop yields. According to the National Aeronautics and Space Administration (NASA), maize crop yields, a prominent feed grain, will decrease by 24% by 2030. Additionally, research conducted by Woodwell Climate Research, a scientific organization focused on climate change impacts and solutions, suggests that crop yield failures will be 4.5 times higher by 2030 compared to the current rate. Consequently, ensuring the storage of crop yields has become essential.
In this context, the demand for feed antioxidants has gained prominence as they play a crucial role in prolonging the shelf life of feed and feed materials. As a result, the demand for feed antioxidants is expected to witness an increase in response to the growing need for adequate storage solutions amidst climate-related challenges impacting crop production.
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Segmentation Overview:
The feed antioxidants market has been segmented into type, farm, animal, and region.
Natural feed antioxidants to hold the largest market share
- Based on type, the feed antioxidants market has been segmented as natural and synthetic. The natural segment held the largest share of the feed antioxidants market in the past few years. The natural segment is further categorized into tocopherols, carotenoids, and botanical extracts.
Poultry is the largest animal category
- The antioxidants market has been segmented by animal, into poultry, cattle, aquaculture, swine, and others. Poultry has historically held a greater market share, due to the rising consumption of poultry meat and other poultry products globally.
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Feed Antioxidants Market Report Highlights:
- The feed antioxidants market growth is anticipated at a CAGR of 5.6% by 2032.
- The feed antioxidants market is projected to have high growth in the coming years attributed to the growing consumption of animal meat.
- Asia Pacific is likely to account for a significant market share in the forthcoming years owing to the government’s initiatives for improving animal health and rising demand for meat and dairy products from this region.
- Some prominent players in the feed antioxidants market report include Cargill, Archer Daniels Midland Company, Koninklijke DSM N.V., BASF SE, Nutreco, Kemin, Adisseo, Perstorp, Alltech, Caldic, Novus International, Chemical Fine Sciences, Oxiris Chemical, Bertol Company, FoodSafe Technologies, and Industrial Tecnica Pecudria.
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