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Ethoxyquin Market size is projected to record substantial gains throughout 2023–2032. The continued application in animal and fish feed will remain one of the major factors driving the industry expansion.
Growing pet ownership across the world has led to an increase in pet food consumption. Meanwhile, aquaculture feed demand is rising with the uptick in fish consumption globally, promoting the business expansion.
The Russia-Ukraine war has significantly impacted producers and consumers as these countries stand as the leading producers and exporters of arable crops worldwide. Reduced cereals and oilseeds export from Ukraine has increased international food and feed prices. In addition, the ensuing uncertainty regarding the availability of Russian energy and fertilizer globally has catered to a hike in labor costs and raw material prices. These factors have led to a negative impact on ethoxyquin market share.
Global rise in trade activities and the intensifying demand for processed food worldwide will create a lucrative growth outlook for the ethoxyquin industry. Ongoing developments in the agriculture sector to enhance crop production and the heightened demand for pesticides will bolster the industry share significantly. Ethoxyquin is primarily utilized as an antioxidant in animal feed and canned pet food. It is a synthetic ingredient that prevents oxidative degradation in fat-soluble vitamins in these products, enhancing their shelf-life.
Ethoxyquin finds application in pet food preservatives, poultry, aquaculture, spice color preservatives, pesticides, and others. Among these, the spice color preservatives segment is anticipated to hold a significant business share in the ethoxyquin market through 2032. It is commonly used in some spices to prevent color loss caused by the oxidation of the naturally present carotenoid pigments. The increasing demand and consumption of spices among consumers across the processed food sector, restaurants, and fast-food chains will potentially augment ethoxyquin demand.
North America ethoxyquin market size is estimated to reach a substantial valuation by the end of 2032. The widespread consumption of aquaculture products and the increasing adoption of pets would largely influence the regional product consumption.
The U.S. FDA Center for Veterinary Medicine (CVM) has approved using the substance as an animal feed additive. Additionally, the poultry sector being a major end-user of ethoxyquin, the rising consumption of poultry products will further amplify the ingredient consumption across the region.
Merck KGaA (E. Merck KG), Archer Daniels Midland Company, Royal DSM, Cargill, Kemin Industries, and Perstorp Group (Perstorp Holding AB) are notable companies that manufacture and supply ethoxyquin. The market players are adopting mergers, acquisitions, and partnerships to expand their product range and gain a competitive advantage. The companies could also emphasize R&D and product innovation to introduce novel solutions.