A recent market study published by Future Market Insights on the Ethoxyquin Market offers global industry analysis for 2015-2019 & opportunity assessment for 2020–2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Ethoxyquin Market, the growth prospects of the market are obtained with maximum precision.
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FMI offers insights into some of the prevailing market trends. These include:
- Until 2011 ethoxyquin was used as a pesticide, however, the market now mostly capitalizes on its antioxidant properties
- Ethoxyquin is a registered antioxidant that can be used for controlling scald or browning in apples and pears
- Fishmeal and aquaculture sectors outside the EU continue to use ethoxyquin to prevent fishmeal from lipid oxidation
- In some countries, ethoxyquin is used to preserve color in rosemary and chili
- Unprecedented COVID-19 outbreak may put a dent in growth prospects as fisheries struggle to keep up their operations amid lockdown orders
- Pessimistic approaches, banning the use of ethoxyquin in the EU may push market players to scavenge for opportunities in East and South Asia
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.
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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.