Ethoxyquin (EQ) is a highly effective quinolone-based synthetic antioxidant majorly used in fish and animal meal to protect it against lipid peroxidation. It was introduced in the market in 1960 and accepted broadly by the food industry to slow down oxidation of difficult to stabilize ingredient such as fish oil, polyunsaturated vegetable oil, fish meal, etc., with an intention to control the loss of nutrients and essential fatty acid from the products. It was also practiced as a preservative to inhibit the formation of scalds from the fruits like pears, apples, etc., but its use in human consuming products has been abandoned due to its toxic property. The potential risk to a consumer is acknowledged which now been legally banned from some countries like Australia, New Zealand, some regions of Europe. However, ethoxyquin is indirectly carried ahead to the human consumption through pet feeding which is highly practiced in fish meal and poultry. Many types of research were conducted to check the tolerance level human are exposed to towards ethoxyquin toxicity. The result is still controversial. Where government of many regions banned ethoxyquin practice, some major regions like North and Latin America are still using it abundantly.
Global Ethoxyquin Market: Drivers & Restraints
The factors that are driving the market of ethoxyquin globally is the growth in food trade items worldwide, increasing poultry and fish meal prices and emerging need of effective pesticides. As the fish and poultry feed meal prices are rising hence, to preserve the feed meal for longer time preservative demand also eventually growing. Due to increase in food trade worldwide, significant growth of ethoxyquin market is expected. Although demand and necessity of preservatives and pesticides in the market can be seen broadly but due to its toxic property, stringent regulations and complications in practicing antioxidants are acting as a restraint for ethoxyquin market. Ban by many regulatory bodies in many applications resulted in the downfall of ethoxyquin in those regions which impacted the worldwide market as well. Another restraint is the arrival of ethoxyquin substitutes such as BHT and BHA in the market.
Global Ethoxyquin Market: Segmentation
The global ethoxyquin market is segmented by its product type and applications.
Based on its products type, ethoxyquin market is segmented into:
- Ethoxyquin- 95 Oil
- Ethoxyquin- 66 Powder
- Ethoxyquin-33 Powder
Based on its applications the ethoxyquin market is segmented into:
- Pet Food Preservatives
- Poultry Industry
- Aquaculture Industry
- Spice Color Preservatives
- Agricultural output
- Industrial Application
- Rubber Industry
- Plastic Industry
Global Ethoxyquin Market: Regional Outlook
Based on the geographies, ethoxyquin market is segmented into seven regions - North America ethoxyquin market, Latin America ethoxyquin market, Eastern Europe ethoxyquin market, Western ethoxyquin market, Asia Pacific excluding Japan ethoxyquin market, Japan ethoxyquin market and the Middle East & Africa ethoxyquin market. The abundant amount of meat consumption, increasing food trade combined with fewer regulations by the government for practicing ethoxyquin as an antioxidant in the countries including U.S, Canada, Mexico made North America and Latin America dominating region in the market of ethoxyquin. The second leading region is Eastern and Western Europe where countries such as Germany, France, Italy, U.K and Spain practices ethoxyquin as a pesticide and in the meat industry. Followed by the Middle East and Africa regions which are anticipated to grow at a healthy growth rate. Countries like China, India, and South Korea are becoming emerging contributor for making Asia Pacific excluding Japan developing region for practicing ethoxyquin; this is because these developing countries are rising in industrialization and consumption of meat and protein.
Global Ethoxyquin Market: Key Players
Few of the market players accounting on ethoxyquin market includes Novus International, Evonik Industries, Rensin chemical limited, Danisco, The bone and biscuit company, Kemin Industries, Inc., Jiangsu Zhong dan group Co Ltd, Novozymes, Guangdong VTR Bio-Tech Co., Ltd., BASF Chemicals, Skystone Feed Co. Ltd, Impextraco N.V, ITPSA, S.A., Shanghai Yijing Industrial Co., Ltd., AB Vista, Zhejiang NHU Co., Ltd are among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.