(Entertainment-NewsWire.com, December 13, 2017 ) According to Publisher, the Global Ethoxyquin market is expected to grow from $150.10 million in 2016 to reach $233.60 million by 2023 with a CAGR of 6.5%. The adoption of pets across the world is the emerging trend having significant impact for the growth of Ethoxyquin market as it is used as a preservative in pet products. Increase in the food trade around the world, growing requirement for pet food products, rising feed prices, need for preservatives in poultry and fish meals and rising demand from agricultural sector are some of the key factors propelling the market growth. However, strict government rules the usage of chemicals in pet food products is hindering the market growth.
By Application, the aquaculture segment holds the largest market share due to its wide applications of Ethoxyquin in this sector. Intensifying demand for fish and fishmeal products in developing economies and growing consumption of fish and shrimps among people are the factors contributing to the growth of this segment in the market.
Geographically, North America holds the largest market share due to the less regulation on the usage of antioxidants. Ethoxyquin is used in pet food preservatives and pesticides in this region while its consumption doesn't exceed the specified level. Increasing usage of ethoxyquin-95 in the poultry and the aquaculture industries and demand from food industry the region is expected to dominate the market in upcoming years. In addition, Asia Pacific region is the fastest growing owing to rapid industrialization and increasing meat and protein consumption.
Some of the key players in the Ethoxyquin market are Mitsui & Co. Ltd, Novus International, Skystone Feed Co, Impextraco N.V, Shanghai Fuda Fine Material Co. Ltd, Jiangsu Zhongdan Group, DuPont Nutrition & Health, Nutreco N.V., Perstorp Group, Kemin Industries Inc, Archer Daniels Midland Company, Cargill Inc, Merck KGaA, Royal DSM, Industrial Técnica Pecuaria S.A. and Rensin Chemicals.
Applications covered: -Poultry Industry -Spice Color Preservatives -Aquaculture Industry -Pesticides -Industrial Application -Pet Food Preservatives -Chemicals -Other Applications
Regions Covered: -North America o US o Canada o Mexico -Europe o Germany o UK o France o Italy o Spain o Rest of Europe -Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific -South America o Argentina o Brazil o Chile o Rest of South America -Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Rest of Middle East & Africa
