The Global Ethoxyquin Market was valued at US$ 172.5 million in 2016, according to a new report published by Coherent Market Insights. Ethoxyquin 95 oil is widely used as an antioxidant in various end use industries such as pet food, aquaculture and poultry industries which provides resistance from oxidation and deterioration of protein, amino acid, fat, natural pigments, grease, vitamin A, D, E and K in various animals food, is in turn is expected to boost the market for ethoxyquin during 2017-2025. The global ethoxyquin market is expected to witness a significant growth during the forecast period due to rise in demand for pesticides from agricultural sector especially from the growing economy of Asia Pacific. Also, the increasing trend of pet ownership, in turn creates high demand for pet food. Ethoxyquin is widely used as an antioxidant in pet food. Thus, this factor acts as a major growth driver for the ethoxyquin market. Moreover, growing trade activities of various food products worldwide, aiding the demand for food preservatives, which in turn is expected to propel the market for ethoxyquin.
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North America holds a dominant position in global ethoxyquin market, followed by Europe and Asia Pacific, owing to increasing inclination of consumers towards consumption of high protein food and high prevalence of foodborne diseases. According to Coherent Market Insights analysis, the global ethoxyquin market is projected to exhibit a CAGR of 4.23% during the forecast period. Key players in the market are majorly investing on development off new products and technological advancement, owing to the stringent government regulations for the use of ethoxyquin in food products. For instance, in 2017, Royal DSM introduced an antioxidant BHT, which is an alternative to ethoxyquin, taking into account the European Food Safety Authority (EFSA), about the safety of consumers and animals from the use of ethoxyquin preservatives in food products.
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