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Ethoxyquin Market Size
Ethoxyquin Market size was valued at around USD 219.2 million in 2022 and is estimated to reach USD 339.3 million by 2032. Ethoxyquin's primary role is as an antioxidant, preventing the oxidation and spoilage of fats, oils, and other food ingredients. Its ability to extend the shelf life of processed foods and food products drives its demand in the food industry.
Ethoxyquin is used as a preservative in animal feed to protect essential nutrients and vitamins from degradation during storage, ensuring the nutritional quality of the feed. Ethoxyquin is added to fish feed to prevent the degradation of essential nutrients and maintain the nutritional integrity of feed pellets.
Ethoxyquin has faced regulatory scrutiny in various regions due to concerns about its safety and potential impact on human health and the environment. Increasing consumer demand for natural and clean-label products has led to skepticism about synthetic additives like ethoxyquin. Due to regulatory concerns and consumer preferences, manufacturers might seek alternative antioxidants and preservatives, potentially leading to a decrease in demand for ethoxyquin.
How is the animal feed industry driving the ethoxyquin industry?
Animal feed industry segment held a dominant market share in 2022 and is anticipated to grow at 4.7% CAGR through 2032 as the product is added to pet food to protect essential nutrients and prevent the degradation of fats and oils, maintaining the nutritional value of the food.
What is the size of the Ethoxyquin Market?
Global market value for ethoxyquin was around USD 219.2 million in 2022 and is estimated to reach USD 339.3 million by the end of 2032.
Who are the key players in the global ethoxyquin market?
Novus International, Inc., Merck Animal Health, BASF SE, Nutreco N.V., Perstorp Group, Kemin Industries, Inc., Cargill, Incorporated, Adisseo Group, Alltech, Inc., Evonik Industries AG, DSM Nutritional Products, Zhejiang Medicine Co., Ltd., Vetagro SpA, Impextraco NV, Phibro Animal Health Corporation among others.
What are the factors influencing the U.S. ethoxyquin industry?
U.S. market size was USD 44.5 million in 2022 and is anticipated to expand at a significant pace from 2023-2032, backed by the thriving livestock sector that extensively uses ethoxyquin for animal feed.