Market Trends of North America Feed Antioxidants Industry
This section covers the major market trends shaping the North America Feed Antioxidants Market according to our research experts:
Expansion Of Animal Meat Market
The growth in the antioxidant market is primarily because of the expansion of the animal meat market. Increased meat consumption and a rise in health concerns in livestock have made the market consume a higher quantity of antioxidants. According to the United States Department of Agriculture, the consumption of animal meat has shown a consistent growth from 2016. In 2018, animal meat consumption witnessed the highest of 266,359 thousand metric tons which were 258,513 thousand metric tons in 2015. The uncertainty like the antioxidants prevents the antibody response is acting as a slight deterrent, but researchers are extending their attention to addressing the issue.
Poultry Segment In The Animal Type is Dominating The Market
Poultry feed takes up the largest share in the additives market, and cattle and pork are the fastest-growing segments. One of the major factors for feed-in poultry is the cost and hence reducing feed costs per bird is a priority. Poultry production must be effective as feed has to be transformed into meat and eggs. Feed costs can be decreased by adding feed additives such as enzymes and antioxidants, which enhance digestibility and halt the loss of nutrients, with the effect that the poultry gains more nutritional value from the same amount of feed. Companies such as Cargill, Koninklijke DSM N.V., and Kemin provide feed antioxidants such as carotenoids, tocopherols, synthetic antioxidants, and citric acid, BHT, butylated hydroxyanisole (BHA), and tocopherol acetate for the poultry industry. According to a research study conducted by International Production & Processing Expo(IPPE) in Atlanta, inadequate amount of vitamins can result in deformities in animals' bodies, which, in turn, will lower the animal's productivity and life span, as well as making its physical appearance look weaker. Due to the relatively high costs of vitamins, animal feed producers are facing issues in producing vitamin-rich animal feed in the country.
