The
global ethoxyquin market is competitive in nature. Most of the
companies are relying on advancements in technology and innovation in
order to expand their business and acquire more shares in the market.
In the years to come, it is anticipated that players within the
market will strive towards setting up their units in emerging
economies, says Transparency Market Research (TMR) in its new report.
Players are expected to achieve this by actively participating in
mergers and acquisitions, partnerships, collaborations, and similar
other tactics. Leading players within the market are: Jiangsu
Zhongdan Group, Rensin Chemicals, Skystone Feed Co., and Impextraco,
Kemin Industries.
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According
to TMR, the global opportunity in the ethoxyquin market will be
US$255.0 mn by 2025. In the period from 2017 to 2025, this market is
expected to expand at a 4.5% CAGR. Among different products,
ethoxyquin-95 oil is witnessing a comparatively higher demand on
account of the rising demand for fish meal worldwide. Increase in the
consumption of shrimps and fish among people will fuel the growth of
the ethoxyquin-95 oil market. This rain is expected to continue for
the rest of the forecast period. On the basis of application it is
expected that the demand for ethoxyquin is highest from the
aquaculture industry. This is mainly due to the increasing demand for
fish and fish meal products in developing nations. Apart from the
aquaculture industry, it is expected that the poultry industry will
also generate a considerable demand for ethoxyquin in the coming
years on account of the rising consumption of poultry.
On
the basis of geography, North America led the market in 2016 and is
expected to continue to do so in the years to come. The approval for
the use of ethoxyquin in animal feed by the FDA has propelled the use
of this product in North America. Europe and Asia Pacific are other
well-established markets for ethoxyquin.
With increasing use of ethoxyquin 66 powder, Asia Pacific will emerge
as a lucrative market for ethoxyquin. However, Europe is expected to
witness a considerable decline in its shares in the market on account
of the government regulations pertaining to the use of ethoxyquin.
Ethoxyquin
has many applications within the pet food preservatives, poultry
industry, spice colour preservatives, aquaculture industry, and
industrial applications, which is boosting the growth of the market.
A significant rise in the trend of pet adoption will have a positive
impact on the market for ethoxyquin. As ethoxyquin is an extremely
efficient preservative, helping the slowing down of oxidation of
vitamin A, vitamin E, carotene, and xanthophyll in food products for
pets, it is being used extensively in these products for prolonging
the shelf life of the same. For the very same reason, ethoxyquin is
also used extensively for the preservation of fish meals and poultry.
Thus, the demand for ethoxyquin is growing.
This
market is expected to witness a positive growth even in the years to
come on account of the phenomenal growth of food trade between
countries all over the world. On the downside however, the growing
awareness regarding the toxicity of ethoxyquin is expected to dampen
the growth of this market. "The implementation of strict
regulations regarding the use of chemicals in pet food will also
hamper the growth of the ethoxyquin market," said a TMR analyst.
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more Information:
http://www.prnewswire.co.uk/news-releases/ethoxyquin-market-increasing-popularity-of-ethoxyquin-as-preservative-to-open-new-growth-avenues-says-620997623.html
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