Driven by escalating demands for synthetic antioxidants across global food and cosmetics sectors, the global butylated hydroxytoluene market is currently on the verge of witnessing an appreciable amount of growth in forthcoming years. Increasing investment in the food and personal care products manufacturing industry will impel the market trends.
U.S. Butylated Hydroxytoluene Market Size, By Application, 2018 & 2025, (Kilo Tons)
Butylated hydroxytoluene (BHT) is a compound that impedes autoxidation of any unsaturated organic compounds, furthering their shelf lives be a substantial margin. Owing to these properties BHT is commonly used as a preservative to prevent oxidation as well as free radical formation.
In U.S., Food and Drug Administration categorized BHT among Generally Recognized as Safe (GRAS) additives, which permits the compound its widescale adoption across the food processing industry. Attributing to the GRAS tag, today BHT is utilized as a preservative across a wide variety of foods, including preserved meat products, and chips. In this, regard, growing preference for BHT as additive and food preservative is slated to accelerate product demand across U.S.
Nowadays, owing to the hectic work schedules, people have been preferring packaged food. This trend, subsequently, is turning the working population towards processed food products as they are readily available across supermarkets and do not require cooking or any other preparations to be consumed. Such a growing trend is expected to become a major growth driving factor for the food-grade preservatives industry and by extension, butylated hydroxytoluene (BHT) market.
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According to the Food and Agriculture Organization of the United Nations, the antioxidant properties of BHT also give it an entry into the global animal feed industry. BHT, among others, is commonly used across the animal feed sector to prevent oxidation of feeds as well as feedstuffs.
BHT prevents the rancidity of fats contained in the feedstocks while also inhibiting the destruction of amino acids, vitamin E, D, and A; ensuring that animal feeds maintain their nutritional value. These capabilities have allowed BHT to draw in revenues from the commercial fish food sector over the last two decades.
Moreover, BHT is currently considered as the most efficacious antioxidant utilized across the animal feed industry, which would enable the BHT market to bring in further revenue growth from the animal feeds segment over the forecast timeframe.
In addition to food industry, rising BHT usage in the cosmetic industry has also strengthened butylated hydroxytoluene industry outlook. BHT boasts of a widescale adoption across the global cosmetics industry as an antioxidant and preservative that allows cosmetic products significantly longer shelf lives. Escalating demand for skincare products is projected to majorly drive adoption of BHT in the cosmetics industry.
According to the 2018 L’Oréal annual report, the skincare segment has consistently showcased distinguished growth as compared to other beauty products, frequently outperforming them by a sizable margin. For instance, the L’Oréal annual report highlighted that the skincare segment grew by approximately 9% in 2018 with North American (20%) and Asia Pacific (55%) accounting for a majority of the industry’s share.
Changing climate conditions brought on by global warming is factored in as a prominent growth provider for skin care products. The rapid expansion of upper middle classes across the world, specifically Asia, are some other factors fostering cosmetics industry expansion and the BHT industry share in turn.
All in all, attributing to the integral role it plays across the aforementioned high-revenue industries, BHT is expected to witness further demand as a preservative and an antioxidant. In fact, according to a Global Market Insights, Inc., research report, the butylated hydroxytoluene market size is slated to surpass an overall valuation of $380 million by 2025.
Author Name : Akshay Kedari
Animal feed additives market to amass appreciable gains over 2017-2024, Asia Pacific to contribute majorly toward industry expansion
Animal feed additives market, which is strongly characterized by the presence of established industry giants, has been witnessing phenomenal advancements in terms of feed quality and product diversification, over the recent years. The substantial upsurge in livestock breeding and rising global meat consumption are some of the important factors that have prompted companies to come up with new products and make considerable investments in R&D activities. Speaking along similar lines, it would be important to take note of an instance that provides a significant testimony to the aforesaid statements. PMI Nutritional Additives, a renowned animal feed additives industry player, recently made it to the headlines with the launch of Peloton, its novel yeast feed additive, which claims to maintain the rumen health and digestive efficacy of livestock. For the record, PMI’s unique Peloton yeast feed additive is a thermal stable blend of the company’s Fulfill feed additive and Saccharomyces cerevisiae yeast. This activated yeast has also been reported to facilitate microbial protein flow from rumen to lower gastral track, thus supporting the gut health and integrity. In effect, analysts deemed the introduction of Peloton to reinforce PMI’s portfolio and further expand its research scope in launching such innovative products. Amidst a backdrop of such documented instances of product innovations & enhancements, it is quite overt for the animal feed additives industry to witness remarkable growth avenues in the ensuing years.
China Animal Feed Additives Market Size, By Product, 2016 & 2024 (USD Million)
Estimates claim that there has been a subsequent surge in the demand for meat and meat products at a global level. In fact, statistical reports state that the global average meat consumption has surged to 41.90 kg per person per year, which is majorly driven by the poultry demand. As animal feed additives play a vital role in poultry diets to improve the overall integrity of lower gastrointestinal track of the livestock, the rising meat consumption is in turn working in the favor of expanding business scenarios. In fact, industry experts anticipate the animal feed additives market from the poultry application to generate a remarkable valuation of over USD 10 billion by 2024.
Speaking of the growing demand for nutritional additives from the poultry application, China is one of the most lucrative growth grounds for animal feed additives industry expansion. High livestock production and extensive animal breeding in the region has been identified as the two crucial factors fortifying the regional animal feed additives market demand. The increasing meat consumption in China has, in turn, prompted the regional industry players to incorporate additives for maintaining the quality of meat. According to reports, the meat consumption in China exceeded 50 kilo tons in 2016 and is further anticipated to surpass 60 kilo tons by 2024. With other countries, such as India, Malaysia, Thailand, and Indonesia following similar growth patterns with regard to massive livestock production, the animal feed additives market, across the Asia Pacific belt, is certain to account for above-average growth. It has been reported that in the year 2016, Asia Pacific witnessed highest feed production capacity, surpassing 350 million tons.
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It would be prudent to mention that the growing consumer demand across these continents have expanded the scope for animal feed additives market participants and have encouraged them to expand their global reach. According to research study, new product launches and M&As have been the most adopted strategy by the animal feed additives industry players. For instance, in a bid to strengthen its position in the global animal feed additives market, Coppens International recently unveiled its product breakthrough for aquatic feed additives. Elaborating further on this move, the company introduced several new algae products that replaced the use of fish oil and inorganic trace minerals in the additives. The new product range introduced by the company in the regional animal feed additives market comprised ForPlus, Bio-Mos, Bioplex, and Actigen, which are designed to strengthen gut integrity, promote good bacteria, and optimize overall fish health.
Taking into account the aforementioned trends, it is quite overt that the animal feed additives industry dynamics are majorly influenced by the rising meat consumption leading to further rise in livestock production. Moreover, given the changing food habits, it wouldn’t be wrong to say that animal feed additives market size surge has been synonymous to growing appetite for protein rich food. However, this is not the only reason that is promoting the use of additives in animal feed. Industry experts also illustrates the growing concerns of disease outbreaks in livestock to be a crucial factor for incorporating additives in animal fodder. Bird flu, animal foot & mouth infections, and swine flu are some of the popular plagues that have taken the world by storm in past decade. In this scenario, proper care of animal health, while incorporating nutrition & antibiotics in animal feed, has been prevalent worldwide, in turn impacting animal healthcare market. Given the pivotal role that these additives play in boosting animal health and eliminating the toxic effect, the expansion of animal feed additives industry has been quite imperative. Indeed, there is satisfactory data that supports the growing animal feed additives market share, which according to reports, is claimed to attain a global valuation of USD 25 billion by 2024.
Author Name : Ojaswita Kutepatil