MARKET REPORT 74 FEED & ADDITIVE MAGAZINE June 2022 in 2021 and a CAGR of 4.2%, it is likely to reach around $400 million by 2030. Let's take a look at some research firms' estimates. For example, Data Bridge Market Research projects that feed antioxidants market will register a CAGR of 5.10% during the forecast period of 2022-2029 and is likely to reach US$ 526.1 million by 2029. Market Growth Reports is the company that predicts the lowest growth. According to the report of the research company; global feed antioxidants market size is expected to grow from US$ 198.4 million in 2020 to US$ 239.4 million by 2027; at a CAGR of 2.3% during 2021-2027. According to the report of Market Data Forecast, feed antioxidants market was worth US$ 270 million in 2021 and estimated to be growing at a CAGR of 5.35%, to reach US$ 381 million by 2026. Market Research Future® explains in its published market research that the market is expected to garner a revenue of US$ 290 million by 2024, with a CAGR of approximately 4% during the forecast period from 2019 to 2024. Finally, when we look at Verified Market Research's report, we see that the company's forecasts are as follows: Feed antioxidants market size was valued at US$ 358.3 million in 2020 and is projected to reach US$ 482.8 million by 2028, growing at a CAGR of 3.8% from 2021 to 2028. MARKET DRIVERS & RESTRAINTS In its report, Data Bridge Market Research explains the factors that will drive and restrain the growth of the market as follows: The market is projected to flourish due to rising demand for meat as a high-protein product and increased awareness about animal health. Due to the continued need for milk and eggs, the market will flourish. Another concern that will restrain the sector is the prevalence of illnesses in farms and domestic animals. The market will be influenced by animal breeders’ demand for disease-resistant qualities in animal feed in order to produce higher-quality meat. As a result of rising product demand, consumers' improved eating habits have helped to drive up meat consumption. Furthermore, stringent government regulations benefit natural products, and as a result, the market is anticipated to expand.
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