Ethoxyquin Market (Product - Ethoxyquin-95 Oil, Ethoxyquin-66 Powder, and Ethoxyquin-33 Powder; Application - Pesticides, Pet Food Preservatives, Poultry Industry, Aquaculture Industry, Spice Color Preservatives, and Industrial Application) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Press Release :
Global Ethoxyquin Market: Snapshot
The global market for ethoxyquin has been witnessing a significant upsurge in its size and valuation, thanks to the increased pet adoption across the world. Since ethoxyquin, as a preservative, is highly efficient in slowing down the oxidation of carotene, xanthophyll, and vitamin A and vitamin E in pet food products, to ensure long shelf-life, its demand is rising substantially with the augmenting need for pet food products, reflecting greatly on the overall market.
The demand for ethoxyquin is also experiencing a considerable rise due to the increasing need for efficient preservation for demand for poultry and fish meals is influencing the, thereby increasing the demand for ethoxyquin, globally. Going forward, the rise in the food trade is likely to boost the worldwide market for ethoxyquin in the near future. However, the toxicity of ethoxyquin, implementation of stringent regulations, and the complications in practicing antioxidants may hamper the growth of this market in the years to come.
On the whole, the opportunity in the global ethoxyquin market is expected to rise at a CAGR of 4.50% between 2017 and 2025, increasing from a value of US$172.2 mn in 2016 to US$255.0 mn by the end of 2025.
Demand for Ethoxyquin-95 Oil to Remain Strong
Ethoxyquin-95 Oil, ethoxyquin-66 powder, and ethoxyquin-33 powder are the three main products available in the global market for ethoxyquin. The demand for ethoxyquin-95 oil is much higher than the other two across the world, thanks to the growing demand for fishmeal, fueled by the rising preference of fish and shrimps for consumption among people across the world. Ethoxyquin-95 oil led the global market in 2016 with a share of 55.5% and is expected to remain on the top over the next few years.
Ethoxyquin finds a widespread usage in the poultry industry, pesticides, pet food preservatives, spice color preservatives, industrial applications, and the aquaculture sector. The demand for ethoxyquin has been significantly high in the aquaculture industry and is expected to witness a remarkable upsurge in the years to come, owing to the increasing demand for fish and fishmeal products in emerging economies. Apart from this, the poultry industry is also anticipated to report healthy growth in the demand for ethoxyquin in the near future due to the rise in the poultry consumption.
North America to Retain its Dominance
The worldwide market for ethoxyquin is spread across Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. With a share of nearly 30%, North America led the global market in 2016. Researchers anticipate the regional market to remain dominant over the forthcoming years. The FDA approval for the usage of ethoxyquin in animal feed has propelled the market for ethoxyquin in North America. Over the coming years, the increasing consumption of ethoxyquin-95, especially in the aquaculture industry, is likely to boost this regional market substantially.
Europe and Asia Pacific are also established markets for ethoxyquin. While Asia Pacific is likely to report a rise in its overall share in the near future, thanks to the increasing usage of ethoxyquin-66 powder, the market in Europe will be experiencing a decline in its share due to the government regulations regarding the usage of ethoxyquin.
Camlin Fine Sciences Ltd., Merck KGaA., Mitsui & Co. Ltd., Shanghai Fuda Fine Material Co. Ltd., Skystone Feed Co. Ltd., Industrial Técnica Pecuaria S.A., Kemin Industries Inc., Jiangsu Zhongdan Group Co. Ltd., Impextraco N.V., and Rensin Chemicals Ltd. are some of the prominent participants in the global ethoxyquin market.
Demand for Increased Agricultural Production to Benefit Global Ethoxyquin Market
The global ethoxyquin market is anticipated to rise rapidly over the next few years. Such growth of the market is driven by increased demand for pet food preservatives and increased food trade between distant countries. Increased agricultural production across the globe and augmented demand for appropriate pesticides are further estimated to add to the growth of the market in the years to come. Ethoxyquin is a naturally occurring antioxidant that is widely used in spice colouring, pet food preservatives, and pesticides. Other factors that are expected to drive expansion of the global ethoxyquin market include the price of feed products and increased knowledge amongst animal breeders about the role of antioxidants in lowering feed costs.
Because of the defence it offers against lipid peroxidation, ethoxyquin is commonly utilized in animal feed. It can be included in foods intended for human consumption. Pet feed to poultry and farmed fish, on the other hand, may be used to feed humans. Significant experiments were performed in the 1980s to gauge the amount of toxicity people are exposed to as a result of their ingestion. The outcomes are still up for debate.
Increasing Demand for Use in Food Preservatives to Work in Favor of the market
Due to increasing demand for pet food, preservatives, successful pesticides, foreign trade, and agricultural production, the size of global ethoxyquin market is predicted to rise significantly over the forecast period. It is an antioxidant that's typically utilized in pet food to prevent lipids from oxidizing. Market growth should be driven by rising feed prices, reduced feed waste, and increased understanding of the role of feed antioxidants in lowering feed costs.
Ethoxyquin is an antioxidant that finds utilization in food preservatives to prevent scald on pears after they have been picked. The item has a wide variety of applications, including insecticides, fungicides, herbicides, plant growth regulators, and anti-degradation agents making the market versatile and profitable. The intensified demand for effective preservation of fish and poultry meals is also likely to drive up demand in global ethoxyquin market in the years to come. In the forecasted timeframe, a considerable increase in the food trade is likely to fuel growth of the global ethoxyquin market.
Global Ethoxyquin Market: Overview
Transparency Market Research offers an 8-year forecast for the global ethoxyquin market between 2017 and 2025. In terms of value, the market is expected to register a CAGR of 4.5% during the projected period. The primary objective of the report is to offer insights on the advancements in the ethoxyquin market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global ethoxyquin market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global ethoxyquin market.
The global ethoxyquin market has been witnessing significant increase owing to increasing application of ethoxyquin in animal and poultry feeds. Ethoxyquin is used to control the generation of lipid oxidation compounds and to mitigate the effects of oxidized fats in animal diets. Increasing global population and rising need for dairy, meat, and poultry products globally is driving demand for feeds for livestock. Furthermore revenue from the global ethoxyquin market has been witnessing significant increase owing to increasing application of ethoxyquin in animal and poultry feeds.
Global Ethoxyquin Market: Scope of the Study
A section of report discusses on how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. Overall internal competition in the ethoxyquin market is studied to be comparatively high due to number of major providers of ethoxyquin products in the market. The global ethoxyquin market is facing relatively low external competition from producers as similar products such as BHT and BHA are generally provided by the same manufacturers. Ethoxyquin-95 Oil, ethoxyquin-66 powder, and ethoxyquin-33 powder are the key products available in the global market for ethoxyquin.
The report talks about the market share of total ethoxyquin market by different application segment including pesticides, pet food preservatives, poultry industry, aquaculture industry, spice color preservatives, industrial application. A section of the report highlights ethoxyquin demand, region-wise. It provides a market outlook for 2017–2025. This study discusses key trends contributing to growth of the ethoxyquin market globally, as well as analyses the degree to which drivers are influencing the market in each region. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA).
Global Ethoxyquin Market: Competitive Outlook
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the ethoxyquin space.
Key players in the global ethoxyquin market include Industrial Técnica Pecuaria, S.A. (ITPSA), Shanghai Fuda Fine Material Co., Ltd., Mitsui & Co., Ltd., Merck KGaA, Camlin Fine Sciences Ltd., Rensin Chemicals Limited, Jiangsu Zhongdan Group Co. Ltd., Impextraco N.V, Kemin Industries, Inc., Skystone Feed Co. Ltd.
The global ethoxyquin market is segmented into:
By Product Type