Global Ethoxyquin Market - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Foreca
Global ethoxyquin market was valued at US $ XX Mn in 2017 and expected to grow at 3.2% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Global Ethoxyquin Market
Ethoxyquin is an anti-oxidant widely used as a preservative to prevent the rancidification of fats to ensure longer shelf-life. In certain countries ethoxyquin is used as pesticide to control the pears scald after harvesting. Moreover, ethoxyquin also used to prevent the color loss due to the oxidation of natural carotenoid pigments and slowdown the oxidation of vitamin A, vitamin E, and xanthophyll in animal feed products.
Market Dynamics: Global Ethoxyquin Market
Increase in the demand for high quality animal feed products, rise in number of aquaculture and poultry farming, increase in awareness about the use of anti-oxidants for reducing the feed cost, and diversification of business by the market players are anticipated to fuel the global ethoxyquin market. However, stringent regulations for ethoxyquin usage, suspension of ethoxyquin in certain EU countries due to toxicity of ethoxyquin, and availability of alternative products such as BHT and BHA may restrain the growth of global ethoxyquin market over the forecast timeframe.
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Market Scope: Global Ethoxyquin Market
Global ethoxyquin market is segmented based on the product type and end user
Based on the product type, the market is segmented into the following:
Ethoxyquin-33 Powder
Ethoxyquin-66 Powder
Ethoxyquin-95 Oil
Based on the end user, the market is segmented into the following:
Pet Feed Industries
Agriculture Industries
Aquaculture Feed Industries
Animal Feed Industries
Others
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Regional Analysis: Global Ethoxyquin Market
Geographically, global ethoxyquin market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America ethoxyquin market is growing due to regulatory approvals for the use of ethoxyquin in animal feed, rise in consumption of ethoxyquin-95 in aquaculture feed industries, and high awareness about the anti-oxidants usage in animal feed are expected to propel the market over the forecast period. However, there is a small decline is observed in the Europe ethoxyquin market due to the stringent government regulations and ban on ethoxyquin usage in animal feed in certain EU countries by EFSA are effecting the market growth negatively. Asia Pacific ethoxyquin market has a lucrative growth, which is attributed to increase in the number of livestock industries, growth in adoption of feed premixes and other packaged feed products, and rise in meat consumption in India and China to boost the market.
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Competition Assessment: Global Ethoxyquin Market
Some of the players in the global ethoxyquin market include:
Archer Daniels Midland Company (U.S.)
DuPont Nutrition & Health (Denmark.)
Cargill, Incorporated (U.S.)
Nutreco N.V. (Netherlands)
Royal DSM (U.S.)
Alltech, Inc. (U.S.)
Novus International (U.S.)
Kemin Industries, Inc. (U.S.)
Jiangsu Zhongdan Group Co. Ltd. (China)
Notable Market Developments: Global Ethoxyquin Market
In April 2017, FDA’s Center for Veterinary Medicine (CVM) reminded the industries about the safe use requirements and labelling of ethoxyquin used in animal feed
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