28 Mar Europe Feed Antioxidants Market Projected To Reach Us$ 101.0 Mn By 2023 Owing To Growing Production Of Compound Feed In Several Countries In The Region Propels the Market Revenue Growth
“The Europe Feed Antioxidants Market poised to reach US$ 101.0 Mnby 2023 with CAGR of 3.2% over six years forecast period 2017-2023 owing to increased surge in the trend towards compounded feed.
Precision Business Insights (PBI) in its report titled “Europe Feed Antioxidants Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023” assesses the market performance over six years forecast period over 2017-2023. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The Europe Feed Antioxidants market was valued at US$ 81.1 Mn in 2016 and projected to reach US$ 101.0 Mn by 2023 owing to growing production and consumption livestock products and increase in farming activities across the region, increase in per capita meat consumption, rapid increase in meat industry is expected to enhance the livestock production. Rising awareness of qualitative feed for the livestock anticipated to increase the market for feed antioxidants over the forecast period.
Europe Feed Antioxidants market segmented on the basis of antioxidant type, feed type and geography
Europe expected to exhibit sluggish growth among all regions owing to regulatory uncertainty
According to the European Commission (EC) 2017/962, suspended the authorization of ethoxyquin used as feed additive for all animal species, categories. The existing authorization does not meet the condition set out by article 5 of regulation (EC) No 1831/2003. The supplementary data regarding the safety and efficacy of additive would allow reconsideration of the assessment carried out for that additive. The strict government regulations are expected to dampen the market over the forecast period.
Spain, Germany, France and U.K feed antioxidants markets are projected to represent lucrative market opportunity over the forecast period due to high consumption of meat and dairy products.
PBI’s Europe Feed Antioxidants market report analyses the market in different geographies such as Germany, France, U.K, Italy, Spain, Russia, Poland, and Rest of Europe. According to regional analysis, Spain, Germany, France and U.K accounted for larger revenue share through 2012-2016 and the same trend is projected to follow over 2017-2023. According to Eurostat publication, in 2016, Spain, Germany, France, the United Kingdom and Italy held the largest populations of livestock in the EU-28. The highest numbers of pigs were recorded in Spain and Germany (29.2 and 27.4 Mn head respectively), while the highest numbers of bovines was recorded in France (19.0 Mn head), sheep in the United Kingdom (23.8 million head) and goats in Greece (3.9 million head).
Product Launches, M&A, Partnerships, and collaborations are the key strategies adopted by market players
Europe Feed Antioxidants market further reveals that the key players increasingly adopting M&A, Partnerships, and collaborations strategies to improve economies of scale by increasing manufacturing capacities and gaining significant geographic presence across the regions. For instance, in September 2017, Kemin Industries, was granted a patent for its antioxidant formulation technology which is the basis for the Paradigmox antioxidant brand. Paradigmox, which uses the novel antioxidant formulation technology, has been available to animal feed for several years. The solution provides equal efficacy to ethoxyquin in diverse feed applications.
Key player’s profiles in the report are Kemin Industries, Inc. (U.S.), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill Inc. (U.S.), Nutreco N.V. (Netherlands), Alltech Inc. (U.S.), Novus International (U.S.), Perstorp Holding AB (Sweden), Adisseo France S.A.S. (France), Oxiris, and Dupont Nutrition And Health (Danisco) (Denmark)
By Antioxidant Type
- Rosemary Extract
- Gallic Acid
- Oil Seeds
- Synthetic antioxidants
- Vitamin E
- Propyl Gallate
By Feed Type
- Broilers Pre-starter Feed
- Piglets Pre-starter Feed
- Cattle Pre-starter Feed
- Aqua Pre-starter Feed
- Pet Food
- Cattle Feed
- Poultry Feed
- Aqua Feed
- Pig Feed
- Feed Premixes
- Raw Material
- Rest of Europe