Depth Research of Ethoxyquin Market forecast from 2017 to 2025
Ethoxyquin Market Dynamics
Ethoxyquin are highly effective preservative used to slow down the oxidation of vitamins A & E, xanthophyll and carotene in pet food products coupled with increasing the self-life of the end product. Increasing trend of pet ownership across the world, in turn fuels demand for pet food. This is a major factor projected to fuel growth of the ethoxyquin market during the forecast period. Growing trade activities and propelling demand for processed food across the world is further expected to create a conducive environment for growth of the ethoxyquin market. However, stringent government regulations for the use of ethoxyquin is expected to be the key challenges for the market growth. For instance, the European Food Safety Authority (EFSA) — permits the use of 150mg/kg in feed.
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North America, followed by Europe and Asia Pacific, respectively accounted for major share in the global ethoxyquin market in terms of revenue in 2016 and the trend is projected to remain the same over the forecast period. In 2016, North America held a market share of 33.10% in terms of value, followed by Europe (28.10%) in ethoxyquin market. Increasing demand for ethoxyquin from food industry across North America is propelling the market growth, due to growing public awareness for healthy diet and supplements food. According to a study conducted by Coherent Market Insights, the global ethoxyquin 33 powder market is expected to witness a CAGR of 4.22% during 2017–2025, which in turn is expected to fuel growth of the global ethoxyquin market.
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Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion
Product portfolio expansion and geographical expansion are the key market trends which are expected to shape the industry in the near future. Major players in the global ethoxyquin market include 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., Rensin Chemicals Ltd. and among others.
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