Animal Feed Antioxidants Market Size Estimated to Reach $563 Million by 2027

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Animal Feed Antioxidants Market Size Estimated to Reach $563 Million by 2027

May 07
03:58 2022
Animal Feed Antioxidants Market Size Estimated to Reach $563 Million by 2027
Animal Feed Antioxidants Market | IndustryARC
Sky-rocketing meat and dairy consumption are said to be the preeminent driver driving the growth of the Animal Feed Antioxidants Market.

Animal Feed Antioxidants Market size is estimated to reach $563 million by 2027, growing at a CAGR of 4.6% during the forecast period 2022-2027. Antioxidants can be delineated as chemical compounds that have utter significance in finding and nullifying unstable molecules (=free radicals). Free radicals can coagulate in cells and inflict damage to lipids and DNA. Antioxidants are generally of two types: natural, man-made, and are widely used as animal feed additives to ensure overall animal health. For instance, ethoxyquin, carotenoids, BHT, and BHA are taken into account for this purpose. Besides antioxidants various other cattle supplements such as trace minerals, ground limestone, and fat-soluble vitamins are used as feed additives to improve milk production, and in enlarging reproduction proficiency by ensuring correct growth of the fetus in prenatal animals. Further, certain bottle feeding lambs need to be given antioxidants in case their mothers reject the lamb or the quality/quantity of the milk is not fulfilling and healthy. The animal feed antioxidants market outlook is pretty appealing as demand for nutrient-rich food and high-quality meat is broadening. Mounting demand for animal health as many complications like animals’ death during pregnancy, heightening cases of avian influenza, and bird flu are the factors set to drive the growth of the Animal Feed Antioxidants Industry for the period 2022-2027.

Animal Feed Antioxidants Market Segment Analysis-By Product Type

The Animal Feed Antioxidants Market based on the product type can be further segmented into Natural (=Botanical extracts, Vitamins, and others), Artificial (=Butylated Hydroxyanisole, Propyl gallate, and others). The Artificial segment held the largest share in 2021. 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.

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Animal Feed Antioxidants Market Segment Analysis-By Livestock

The Animal Feed Antioxidants Market based on Conveyance Mode can be further segmented into Poultry, Dairy cattle, Aquaculture, Swine, and others. The poultry segment held the largest share in 2021. The growth is owing to the humungous use of poultry meat all across the globe. According to a report published in 2021 chicken is the most consumed meat worldwide with more than 116 million tons consumption which is appetizing, and cost-effective in nature. Therefore, to meet the requirement poultry owners make use of feed additives like antioxidants and traces. Using food additives saves their overall cost and boosts the revenue. Moreover, the poultry and cattle dairy segment is estimated to be the fastest-growing with a CAGR of 5.5% over the forecast period 2022-2027. This growth is owing to enlarging health awareness among people escalating the demand for protein-rich foods. Therefore, meat, milk, and associated products have become the priority of people.

Animal Feed Antioxidants Market Segment Analysis-By Geography

The Animal Feed Antioxidants Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as enlarging demand for dairy products, and meat due to the vicious size of the population residing in the Asian continent. Over 59.6% of the total world population that is around 4.6 billion people calls this continent home in 2021. China has the greatest number of non-vegetarians globally. The majority of the Asian population lives upon pork, seafood, and poultry from turkey, chicken. Seafood such as tuna, salmon, and shrimp are part of almost every house in Japan, Indonesia, and China. Therefore, to fulfill this colossal demand meat producers are adopting contemporary methods of using feed antioxidants to ensure the quality of meat and the spread of diseases. Furthermore, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period 2022-2027. This growth is owing to the surging economies of nations shooting up the disposable income of people and eventually prompting the demand for nutritious food items.

Animal Feed Antioxidants Market Drivers

Elevating demand for protein-rich foods is Anticipated to Boost Product Demand.

With snowballing purchasing capacity and health consciousness, people are increasing the demand for protein and nutrient-rich foods. Global dairy and meat consumption are plunging precipitously in present times. According to the United States Department of Agriculture (USDA) per capita consumption of dairy-based items has plunged by 27 pounds in the last four to five years and reached over 650 pounds. Similarly, if we talk about developing countries India alone consumes more than 80,000 metric tons (=around 176,368,000 pounds) of milk every year. Besides, dairy products meat consumption is also witnessing an upsurge every year. All these aforesaid factors are anticipated to drive the respective market in foreseeable future.

Swift modernization and expanding economies fueling the disposable income, and the proliferating threat of animal diseases are Expected to Boost Product Demand.

There has been a slight expansion in incidences of spine flu and pathogenic avian influenza. The disease was declared as a pandemic by the world health organization in 2009-10 when it claimed more than 284,000 lives. Moreover, there has been seen a slight mutation in the nature of such viruses. It is being claimed that post mutation there is the possibility of animal to human transmission. To counter such threats farm owners are making use of several feed additives to ensure animal health in the first place. Moreover, swift increase in modernization and industrialization accelerating disposable income of people. Therefore, they are making more rational and healthy choices. Especially, if we consider developing economies there are around 670-680 million households as of now and the number is anticipated to witness a 2.5-3% overall increase by the year 2030, meaning more people are pulling out of poverty.

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Animal Feed Antioxidants Market Challenges

The reimposition of lockdowns and the upsurging trend of veganism are Anticipated to Hamper Market Growth.

Intensification in vegan trends and the growing vegan population is one big factor expected to strangle the growth of the animal feed antioxidants market. Furthermore, novel mutations in the COVID-19 variants are giving headaches to the entire world. Therefore, to offset the impact several countries mulling over the option of reimposing lockdown. As a result of that, demand and supply chains are deteriorating as industries are unable to tap their full resources, and similarly, people aren’t willing to make additional purchases.

Animal Feed Antioxidants Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Animal Feed Antioxidants Market. The top-10 animal feed antioxidants market companies are-

DSM Nutritional Product
Ab Vista
Zhejiang Medicine
Kemin Industries

Recent Developments

In November 2021, Denmark-based biotechnology company “Novozymes” acquired India-based pharmaceutical company “Synergia Life Sciences.” Synergia is recognized for its probiotics and natural Vitamin K2-7 manufacturing. Novozymes closes the acquisition with a payment of $150 million. The acquisition will fortify Novozymes’ functional food business.

In August 2021, two food companies reached an agreement to acquire US-based company “Sanderson farms.” The first company is Minnesota-based “Cargill, Inc.” and the second firm “Continental Grain Company” is based in Belgium. Both firms agreed to pay an amount of $4.53 billion collectively that is $203 per share to Sanderson in order to complete the acquisition process.

In November 2020, China-based animal feed additive manufacturing company “Bluestar Adisseo”, commonly known as Adisseo announced the successful acquisition of Netherlands-based feed additive firm “FRAmelco Group.” The acquisition is done by Adisseo mainly to strengthen its desire to dominate the animal additives market. The company runs 3 plants which are located in the Netherlands, Spain, and Thailand. Additionally, the business generates close to 30 million pounds each year

Key Takeaways

Geographically, the Asia-Pacific Animal Feed Antioxidants Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027.

Sky-rocketing meat and dairy consumption are said to be the preeminent driver driving the growth of the Animal Feed Antioxidants Market. Deteriorated demand and supply chain attributed to the COVID-19 is said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Animal Feed Antioxidants Market report.

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Antioxidants Market

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