MARKET REPORT FEED & ADDITIVE MAGAZINE April 2024 75 price volatility and availability inconsistencies due to fluctuations in raw material costs. According to the researchers, the resulting fluctuations could be reflected in production costs and product pricing, resulting in a slowdown in the growth rate of the market Another possible restraint could be due to regulatory restrictions. This is expected to particularly affect synthetic-based antioxidants. MARKET SITUATION IN TERMS OF ANIMAL SPECIES Reports reveal that, based on animal type, the poultry segment holds a significant share of the global animal feed antioxidant market and will continue to grow rapidly in the coming years. In poultry farming, feed is one of the key factors affecting production, so reducing feed costs per bird is a priority. Supplementation of feed additives such as enzymes and antioxidants, which improve digestibility and prevent the loss of nutrients, can reduce feed costs. In addition, consumer demand for poultry products is growing rapidly. Analysts believe that this will significantly stimulate the development of the feed antioxidant market. In the feed antioxidant market, the poultry segment is followed by the cattle segment. In the aquaculture group, there is a strong interest in feed antioxidants. The use of feed antioxidants in aquaculture is increasing due to the growing emphasis on high-quality seafood and sustainable aquaculture. The inclusion of antioxidants in the diet has a positive impact on the growth, survival, and welfare of aquatic organisms. Researchers anticipate that the rapid demand from this group will provide a huge market opportunity for key players operating in the market. MARKET DEVELOPMENT ON REGIONAL BASIS The most developed market for feed antioxidants is estimated to be Asia-Pacific. The region is an emerging market that promises much in the future for manufacturers. China is the largest market for feed antioxidants in the region, while India is the fastest-growing market. Rising disposable income and the increasing demand for protein-rich products such as meat and dairy products make Asia's emerging economies stand out in the market. This growth and development is expected to continue steadily in the coming years. Therefore, both this situation and the increasing number of producers in the region are expected to positively affect the feed antioxidant market. In addition, the hot and humid climate in these regions has the potential to cause the deterioration of animal feeds. This means that the need for feed antioxidants will increase.
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