PUBLISHER: Grand View Research | PRODUCT CODE: 1405800
PUBLISHER: Grand View Research | PRODUCT CODE: 1405800
The Europe pet food antioxidants for meat rendering market size is estimated to reach USD 61.88 million by 2030 and is projected to grow at a CAGR of 1.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the increasing demand for high-quality nutrition products as more and more people are choosing to adopt animals across Europe, especially dogs and cats. It is increasing the consumption of antioxidants used for preserving rendered meat used in their food products.
Increasing expenditure on high-quality food for animals by consumers has been main driver for antioxidants market in Europe. Owners have shifted towards nutritious intake to maintain the health and immunity of their animals. According to the European Pet Food Industry Federation (FEDIAF), Europe is a crucial major market with 340 million domesticated animals around the region. The purchase by European residents accounted for 10.5 million tons of food items, with approximately 46% of the households in the region containing a domesticated animal.
Natural antioxidants have emerged as a fast-growing segment, including ingredients such as vitamin E, vitamin C, and rosemary extracts, used in meat-based food items for preventing the oxidation of fats and oil, thereby reducing the chances of rancidity in the products. Major companies working in the region, such as Alltech, DSM, and Nutreco, have been focusing on introducing natural products to gain leverage from this new trend in the market.