Global Feed Antioxidants Market

Market research companies have varying estimates of the size and growth prospects of the global animal feed antioxidants market. However, when the expectations in these reports are averaged, it seems that the compound annual growth rate (CAGR) expectation for the 2022-2030 period is around 4.2%. Based on an estimated market size of $270 million in 2021 and a CAGR of 4.2%, it is likely to reach around $400 million by 2030.

Global Feed Antioxidants MarketBy Derya Yildiz
Feed antioxidants are defined as additives added in animal feeds to increase the shelf life of feed by preventing unnecessary oxidation in finished feeds and animal guts in most sources. Feed antioxidants can maintain the nutritional and energy value of the feed and prevent the rancid oxidation of fats. Antioxidants also aid in the preservation of nutritional supplements in the diet, such as lipids, vitamins and pigments.

The Global Feed Antioxidants Market report prepared by Verified Market Research (VMR) includes the following information about feed antioxidants: In the same way that oxidation causes rust and deterioration in metals, a similar form of oxidation occurs in feeds and feedstuffs, resulting in rancidity of fats, loss of vitamins A, D, and E, pigments (carotenoids), and amino acids, and decreasing biological energy values for the diet. If this degradation is permitted to continue unabated in a feed, or even in a single ingredient, reduced feed consumption can lead to severe nutrient shortages. Many researchers have researched the many difficulties caused by uncontrolled oxidation and created methods to control these oxidation processes. It should be highlighted that oxidative rancidity, as opposed to hydrolytic rancidity, results in a significant loss in the energy value of fat or oil.

Unwanted oxidation in feeds can be mitigated in a variety of ways. It is important to ensure that the components included in the feeds provide appropriate margins of safety for vitamins A, E, and other natural antioxidants, such as lecithin. When feasible, the use of unstable fats and oils, as well as other pro-oxidants, in feed should be avoided. An antioxidant must meet the following criteria to be useful in animal feeding: it must be effective in preserving animal and vegetable fats, vitamins, and other feed qualities subject to oxidative destruction, it must be non-toxic to humans and farm animals (i.e., chickens, swine, fish, etc.), it must be effective at very low concentrations, and it must be low enough in cost.

With the introduction of rations high in animal and vegetable fats, the need for antioxidant protection has become increasingly clear. The majority of recent research has focused on ethoxyquin as a preservative or antioxidant. Ascorbic acid, propionic acid, benzoic acid, citric acid, and their salts are some more chemical preservatives. The use of these preservatives causes technological issues (e.g., moisture level, etc.). However, economics remains the most crucial factor limiting their use in feeds.

MARKET GROWTH EXPECTATIONS
Antioxidants are widely used in areas such as food and feed for preservative purposes. Overall, the size of the global antioxidants market is estimated to be valued at $3.5 – $4 billion. In the report entitled “Antioxidants Market by Type: Global Opportunity Analysis and Industry Forecast, 2022–2031” prepared by Allied Market Research; the global antioxidant market size was valued at $3,437.3 million in 2020, and is projected to reach $7,376.4 million by 2031, registering a CAGR of 6.9% from 2022 to 2031.

Market research companies have varying estimates of the size and growth prospects of the global animal feed antioxidants market. However, when the expectations in these reports are averaged, it seems that the compound annual growth rate (CAGR) expectation for the 2022-2030 period is around 4.2%. Based on an estimated market size of $270 million 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.

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 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.

Major Players:
AB Vista
Adisseo
Aland (Jiangsu) Nutraceutical
Alltech
Archer Daniels Midland (ADM)
Barentz International
BASF
Beldem
Bertol Company
BTSA
Caldic
Camlin Fine Sciences
Cargill
Chemical Fine Sciences
FoodSafe Technologies
IFF (Danisco – DuPont)
Impextraco
Industrial Tecnica Pecuaria
Kalsec
Kemin Industries
Lallemand Animal Nutrition
Naturex
Novozymes
Novus International
Nutreco
Oxiris Chemical
Perstorp
Royal DSM
VDH Chem Tech
Videka Company
Vitablend Nederland
Yufeng International
Zhejiang Medicine

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.

Resources:
• Data Bridge Market Research; Global Feed Antioxidants Market – Industry Trends and Forecast to 2029; Nov 2021; https://www.databridgemarketresearch.com/reports/Global-Feed-Antioxidants-Market?kapil
• Market Data Forecast; Feed Antioxidants Market Size and Share to 2027; Published: January, 2022; https://www.marketdataforecast.com/market-reports/global-feed-antioxidants-market
• Market Growth Reports, United States Feed Antioxidants Market Report & Forecast 2021-2027; Publishing Date : 29-Sep-2021; https://www.marketgrowthreports.com/united-states-feed-antioxidants-market-19246996
• Mordor Intelligence, FEED ANTIOXIDANTS MARKET – GROWTH, TRENDS, COVID-19 IMPACT, AND FORECAST (2022 – 2027); Base Year: 2021; https://www.mordorintelligence.com/industry-reports/feed-antioxidants-market
• Market Research Future®; Feed Antioxidants Market Global Research Report – Forecast till 2027; February 2021; https://www.marketresearchfuture.com/reports/feed-antioxidants-market-5518
• Verified Market Research (VMR)Global Feed Antioxidants Market Size By Type, By Form, By Animal, By Geographic Scope And Forecast; Published Date: Jul 2021; https://www.verifiedmarketresearch.com/product/feed-antioxidants-market/
• MarketsandMarkets Research Private Ltd.; Feed Antioxidants Market by Type Synthetic (BHT, BHA, Ethoxyquin, and Propyl Gallate) and Natural (Carotenoids, Tocopherols, Botanical Extracts, and Vitamins), Animal (Poultry, Swine, Aquaculture, Cattle, and Pets), Form, Region – Global Forecast to 2025; Published Date: Jan 2020; https://www.marketsandmarkets.com/Market-Reports/animal-feed-antioxidants-market-138013648.html
• IndustryARC™; Animal Feed Antioxidants Market – Forecast(2022 – 2027); https://www.industryarc.com/Research/Animal-Feed-Antioxidants-Market-Research-504922
• Allied Market Research; Antioxidants Market by Type: Global Opportunity Analysis and Industry Forecast, 2022–2031; Feb 2022; https://www.alliedmarketresearch.com/anti-oxidants-market