MARKET REPORT FEED & ADDITIVE MAGAZINE June 2022 75 Moreover, customer preferences and acceptance of high-quality feed for livestock and growing popularity of mold inhibitors will further create lucrative and remunerative growth opportunities for the feed antioxidants market. However, quality control of feed additive products manufactured by Asian companies will pose a major challenge to the growth of the market. Also, high costs associated with natural antioxidants will further derail the feed antioxidants market growth rate. Market Data Forecast, on the other hand, draws attention to increasing feed prices and waste, and explains how they are driving the market. According to the report, increasing awareness among farmers about the benefits of antioxidants on animal health has led the market to show significant growth recently. Other factors driving the growth of feed antioxidants market size include increasing feed prices, reduced wastage due to oxidation, industrialization of the livestock industry and the livestock disease outbreaks fuelling additives market. These factors have played a key role in the recent growth of the market. Besides, the feed antioxidants market also faces some challenges and restraints which include competition for raw materials with other industries, stringent government regulations and price volatility of agri-commodities. Market Research Future® highlights similar issues in its report. According to the Market Research Future's report, hike in the prices of livestock feed is amongst the major determinants boosting the demand for feed antioxidants as their utilization ensures the minimum loss of essential nutrients and fats in the feed, resulting in the availability of high-quality feed for high prices. Moreover, usage of antioxidants leads to reduced feed wastage caused due to oxidation and raising awareness regarding the benefits of feed antioxidants are also catalyzing the growth of the global feed antioxidants market. However, the implementation of stringent regulations regarding the use of antioxidants in animal feed is hampering market growth. Market players are introducing products defined as per the age, health, and species of livestock, which is expected to pave the way for profitable growth opportunities for the market players. MARKET STATUS BASED BY TYPE On the basis of type, the feed antioxidants market is segmented into synthetic antioxidants and natural antioxidants. Synthetic antioxidants segment is further sub-segmented into BHA, BHT, ethoxyquin, propyl gallate and other types. Natural antioxidants segment is further sub-segmented into carotenoids, tocopherols, botanical extracts and vitamins. According to IndustryARC's report, the artificial segment had the largest market share in 2021. In its report, IndustryARC analyzes the market situation and future expectations on the basis of type as follows: The broadening demand for antioxidants in animal feed can’t be just curved with natural antioxidants therefore artificial antioxidants are extracted at a wide scale from vegetables, and various other plant materials with the help of enzyme-assisted extractions, and ultrasound-assisted extractions. These synthetic antioxidants have become the first choice for various farm and poultry owners attributing to their steady nature, cost-effectiveness, and far-reaching availability. However, the natural antioxidants segment is estimated to be the fastest-growing with a CAGR of 5.2% over the forecast period 2022-2027. This growth is owing to side effects accompanied by the overuse of synthetic antioxidants. In many cases, antioxidants that are extracted through chemical process leaves adverse effects on animals’ liver and deteriorate their DNA. The PFA (natural or plant feed additives) and VitE have a similar effect in mitigating oxidative stress in both monogastric (i.e., pigs and rabbits) and ruminants under moderate stress conditions, which are frequent in intensive livestock farming. The influence of PFA on antioxidant enzyme activities can be dose- or method of administration-dependent. Verified Market Research, on the other hand, points out in its report that legal regulations will support the natural antioxidant segment. According to the report, the most effective antioxidants used in animal feeds
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