28 Mar North America Feed Antioxidants Market To Be Valued at US$ 98.5 Mn by 2023, Growing Livestock Production and Increase in consumption of Meat Propels the Market Revenue Growth
“The North America Feed Antioxidants Market poised to reach US$ 98.5 Mn by 2023 with CAGR of 4.8% 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 “North America 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 North America feed antioxidants market grown at 4.11% CAGR over the historic years to reach US$ 71.4 Mn in 2016 and projected to be valued at US$ 74.4 Mn in 2017 and poised to grow 4.8% CAGR over the forecast period (2017 – 2023) estimated to reach US$ 98.5 Mn by 2023 owing to growing demand for safe and quality feed among farming community, increase in meat consumption, rapid increase in meat industry is expected to enhance the livestock production. Growing concerns on animal health.
North America Feed Antioxidants market segmented on the basis of antioxidant type, feed type, and geography
The growing demand for meat and aquaculture products fuels demand for feed antioxidants
The growing consumption of chicken in U.S. largely driving the boon in meat industry and this trend has been augmented with the rising preference for sea food among Americans. Moreover, North America is home to 12 largest feed companies, which falls under world’s top 100 feed producing companies. The growing meat demand and presence global feed manufacturers in the region has created the conducive market environment for feed antioxidant suppliers in North America region.
North America region is second fastest growing market for feed antioxidants across the globe with CAGR of 4.8% over 2017-2023
PBI’s North America Feed Antioxidants market report analyses the market in different geographies such as U.S and Canada. According to regional analysis, U.S accounted for larger revenue share through 2012-2016 and the same trend is projected to follow over 2017-2023. Canada region projected to exhibit highest growth among all regions owing to growing animal rearing and livestock production.
Product Launches, M&A, Partnerships, and collaborations are the key strategies adopted by market players
North America 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
- North America