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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The global market for ethoxyquin is dominated by North America, followed by Europe and Asia Pacific respectively, in the last five years due to increase in consumer preferences for high protein food coupled with increasing incidence of various foodborne diseases. According to Coherent Market Insights, the global market for ethoxyquin is expanding at a CAGR of 4.23% during 2017-2025. Also, the market leading players are continuously spending high amount of revenue to come up with new product innovations and technological advancement, due to various government regulations for the use of ethoxyquin in food products. For instance, in 2017, Royal DSM --- has 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 various food products.
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