MARKET REPORT 76 FEED & ADDITIVE MAGAZINE June 2022 are ethoxyquin, BHA (butylated hydroxyanisole), and BHT (butylated hydroxytoluene) among the numerous synthetic antioxidant compounds investigated thus far. The most effective of them is ethoxyquin, which is followed by BHT and BHA. However, as consumers shift away from synthetic antioxidants and toward bio-based antioxidants, manufacturers’ options have expanded. Market actors may be compelled to create natural antioxidants such as tocopherols due to volatile petrochemical feedstock pricing. Furthermore, strict government rules have a favorable impact on natural products. MARKET STATUS BASED BY LIVESTOCK TYPE On the basis of animal, the feed antioxidants market is segmented into poultry, swine, ruminants, aquaculture, pets, and others. The major animal segment in the feed antioxidants market is the poultry segment. According to MarketsandMarkets Research Private Ltd.'s report, growing demand for poultry-based meat products in domestic and international markets is fuelling the feed antioxidant demand and will lead to USD 232 million opportunities until 2025. In poultry production, one of the major factors for feed is the cost; hence, reducing feed costs per bird is a priority. Poultry production must be efficient as feed has to be converted into meat and eggs. Feed costs can be reduced by adding feed additives such as enzymes and antioxidants, which increase digestibility and prevent the loss of nutrients, with the result that the poultry gains more nutritional value from the same amount of feed, thus boosting the overall growth of the feed antioxidants market. MARKET STATUS ON REGIONAL BASIS The APAC region is expected to dominate the feed antioxidants market in the coming period. According to the report of Mordor Intelligence, Asia-Pacific is the largest market for feed antioxidants, followed by North America and Europe. In Asia-Pacific, China is the largest market, followed by India. The increased production and consumption of animal and poultry meat are attributed to the market’s growth in these countries. In China, poultry meat production increased to 15.1 million metric ton in 2020 from 14.7 million metric ton in 2019. Poultry feed takes up a significant share of antioxidants, followed by dairy and beef feed antioxidants. Leading players in the market focus on the R&D of antioxidants to capitalize on the growth trend. The market's growth is driven by the increasing disposable incomes and meat consumption. According to the OECD, meat consumption in India increased by 16% from 2017 to 2021, reaching 4.1 thousand metric ton in 2021. The rising cost of feed worldwide is the key factor driving up demand for feed antioxidants to prevent spoiling and extend the shelf life. In addition, hot and humid climate in several regions of the world necessitates the usage of feed antioxidants. MAJOR PLAYERS IN FEED ANTIOXIDANTS MARKET The feed antioxidants market is consolidated by major players such as Kemin Industries, Cargill Inc., Alltech Inc., Adisseo SAS France, and Archer Daniels Midland Co. The lack of local companies resulted in the major players holding a larger share of the market. Small players share less than half of the total feed antioxidants market. Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by major players in the animal feed antioxidants market. Another major investment area is the focus on R&D to launch new products at lower prices.
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