Ethoxyquin to Remain in High Demand on Account of Rising Pet Adoption
Ethoxyquin finds widespread usage in the poultry industry, pesticides, pet food preservatives, spice color preservatives, industrial applications, and the aquaculture sector. The demand for ethoxyquin has been significantly high in the aquaculture industry and is expected to witness a remarkable surge in the years to come.
The increasing demand for fish and fishmeal products in emerging economies will aid the growth of the market. Apart from this, the poultry industry is also anticipated to report healthy rise in the demand for ethoxyquin in the near future due to the rise in poultry consumption.
Demand from Emerging Economies to Boost Growth
Regionally, the global ethoxyquin market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Asia. Among these regions, North America currently leads the market. The demand for ethoxyquin has been significantly high in the aquaculture industry and is expected to witness a remarkable upsurge in the coming years owing to the increasing demand for fish and fishmeal products in emerging economies.
Countries in Asia Pacific and Latin America offer substantial growth opportunities to the market.
Rising Awareness among Consumers will Stoke Growth Opportunities
The rising awareness among consumers will drive ethoxyquin market. In addition to this, the market will benefit from their increasing disposable incomes. In developed markets, sales are likely to remain high, aided by the presence of high awareness among consumers. Also their purchasing power is comparatively high, which will support the growth of the market. The FDA approval for the usage of ethoxyquin in animal feed has propelled the market for ethoxyquin in North America. Over the coming years, the increasing consumption of ethoxyquin-95, especially in the aquaculture industry, is likely to boost this regional market substantially.
How Growth will Unfold
Ethoxyquin is an antioxidant most commonly used in pet food preservatives, pesticides, and as a colorant in spices. While before the coronavirus impact, experts had predicted positive outlook for the market with recent changes in the scenario, growth prospects may seem a little restricted. The spread of coronavirus and preventive measures implemented across various nations have made consumers less likely to spend on products with high prices. Furthermore, increasing feed prices due to restricted mobility amidst lockdown imposed across various nations may market growth.
ETHOXYQUIN MARKET TAXONOMY
The global Ethoxyquin Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type
- Ethxyquin-95 Oil
- Ethxyquin-66 Powder
- Ethxyquin-33 Powder
Application
- Pesticides
- Pet Food Preservatives
- Poultry Industry
- Aquaculture Industry
- Spice Color Preservatives
- Industrial Application
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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