Natural and Synthetic Animal Feed Antioxidants Market will Reach US$216.8 million by 2018
A robust growth in meat consumption globally has been noticed in the last couple of years. The ongoing market trends have radically benefitted the animal feed market, which has subsequently triggered demand from the animal feed antioxidants market. Moreover, rising concerns pertaining to animal health and feed safety have contributed to the surge in demand for animal feed antioxidants in the global market.
According to recent surveys, the global natural and synthetic animal feed anti-oxidants market, in terms of volume, is projected to grow at a 3.6% CAGR between 2012 and 2018. On the basis of market demand, the animal feed antioxidants market was worth US$162.4 million in 2011, and if the trends showcased at present continue, the market will reach US$216.8 million by 2018, registering growth at a 4.2% CAGR in the next few years.
Antioxidants are also referred to as “shelf-life extenders”. They are molecules that slow down oxidation and become oxidized themselves at a later stage to neutralize the deteriorating effect of free radicals on fresh food. Animal feed antioxidants mainly prevent feed from oxidizing, thereby enhancing its shelf-life and ensuring feed quality and safety. There are two distinct types of feed antioxidants, namely natural and synthetic animal feed antioxidants. These antioxidants serve the purpose of protecting the other nutrients present in the feed such as flavoring agents, pigments, vitamins, proteins, and fats, yet again enabling feed security in animal.
Escalating Demand for Livestock Products to Boost Antioxidants Demand
Driven by a surge in demand for livestock products, such as meat, eggs, and milk, the global animal feed antioxidant market is witnessing flourishing market opportunities. The rise in demand for animal feed antioxidants has subsequently paved the way for the expansion of synthetic and natural animal feed markets. Incumbent market trends indicate growing inclination among livestock producers on a global front, to focus on increasing the use of antioxidants to reduce nutrient loss and prevent deterioration of feed quality owing to oxidation.
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Asia Pacific to Remain Undisputed Market Leader
In 2011, Asia Pacific alone accounted for over 50% of the total antioxidant market, followed by North America and Europe. As per recent surveys, bolstered demand for livestock products, particularly in the leading economies of the region, will help Asia Pacific remain at the helm of the global animal feedstock antioxidants market. The region is projected to register the fastest growth in terms of both volume and revenue. Global dominance of Asia Pacific will also be driven by the high volume of feed wastage by oxidation that is caused by the tropical and humid climate of the region, which facilitates oxidation. Therefore, it is noted that Asian consumers are constantly seeking better and newer animal feed antioxidants with a longer shelf life.
Driven by Health Awareness, Natural Antioxidants to Emerge as Market Leader
A paradigm shift in consumer preference has been observed in the global market for animal feed antioxidants. Owing to heightened health concerns and growing awareness pertaining to harmful effects often associated with synthetic additives, the demand for natural antioxidants is significantly increasing in the global market. Driven by the rising demand to replace artificial and synthetic antioxidants by healthier and cleaner alternatives, the global market for natural animal feed antioxidants is witnessing steady growth despite higher costs and other limitations associated with it. Reports suggest the natural animal feed antioxidant market is expected to exhibit growth at a 4.0% CAGR between 2012 and 2018. The market for synthetic animal feed antioxidant however, will register growth at a slightly lower 3.2% CAGR over the same period.
Companies such as ADM, Danisco, SE, and BASF are the major players in the global market for natural and synthetic animal feed antioxidants.