Industry Insights:
The global animal feed antioxidants market size was valued at USD 183.4 million in 2014. Rising meat consumption as a result of increasing awareness toward protein diet is expected to promote the importance of good quality feed ingredients for livestock.
Antioxidants are mainly used in animal feed industry for providing protection of essential nutrients such as vitamins, fats, and pigments from deterioration. Furthermore, these ingredients are capable of extending the storage period as well as the durability of animal feed.
Increasing number of reporting incidences of contagious diseases including foot-&-mouth disease and avian flu among livestock is expected to have a substantial impact. Furthermore, rising spending toward inclusion of cattle management technology in the dairy farming sector of UK and Ireland is expected to expand the application scope in the near future.
Over the past few years, the agriculture industry of developing countries including China, Brazil, and India have been witnessing significant rise owing to increasing expenditure on crop yielding technology. This favorable trend in agriculture sectors is expected to ensure access to corn as well as oilseeds as raw materials to manufacture natural ingredients for the animal feed industry.
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Livestock insights:
Poultry was the largest market, accounting for 34.3% of global share in 2015. Rising demand for frozen chicken as a result of increasing importance of convenience food is expected to increase the consumption of antioxidants among livestock over the forecast period.
Over the past few years, the governments of South Africa and Nigeria have been initiating various policies aimed for the improvement of poultry farming on a domestic level. The above mentioned favorable policy toward the development of poultry farming on a national level is expected to open to increase new applications over the projected period.
The market demand for cattle was 16.0-kilo tons in 2015 and is expected to witness significant gains as a result of increasing outbreaks of diseases including Bovine spongiform encephalopathy (BSE). Furthermore, animal feed antioxidants demand in aquaculture was USD 16.9 million in 2015.
Regional Insights:
Asia Pacific was the largest market, accounting for 51.5% of global industry share in 2016. The firm foothold of the farming base of cattle, pork and poultry species in China, India, Australia and New Zealand is expected to have a positive impact on the market. However, low adoption rates of antioxidants in unorganized cattle farming sector of developing countries including China and India is projected to hamper the industry growth.
North America market was valued at USD 46.6 million in 2015. The increasing importance of anti-oxidation property for ensuring the durability and high-shelf life for the finished goods in meat processing sector of the U.S. is expected to play a vital role in expanding the market reach in the near future.
Rising disposable income and urban population growth in Middle East countries are projected to increase the demand for derived animal products including meat and dairy derivatives. As a result, livestock vendors are expected to establish new farming units on a domestic level and thus likely to increase the usage of feed ingredients over the forecast period.
Competitive Insights:
Key vendors include DSM Nutritional Product LLC, Adisseo, DuPont, ADM, Novozymes, BASF, Zhejiang Medicine Co. Ltd., Kemin Industries and AB Vista. Product innovation and the establishment of strategic partnerships with ingredient suppliers are expected to remain key critical success factors for industry participants during the forecast period.
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