Feed
Phytogenics refers to a wide variety of plant-derived products such
as herbs, spices, and products, used to feed animals in order to
improve the performance of agricultural livestock. The phytogenic
feed compounds possess antioxidant property that contribute towards
the protection of feed lipids from oxidative damage. Some of the
other beneficial properties of feed phytogenics include antiviral,
antifungal, and antimicrobial properties that help in enhancing
palatability, improve gut functions, and promote growth. Feed
phytogenics are widely available as dried and ground material,
extracts or essential oils. Rising concerns relating to antibiotic
growth promoters has resulted into a shift towards the use of
alternate growth-promoting agents in animal nutrition. This is
expected to fuel the demand for feed phytogenics market during the
forecast period.
Market
Dynamics of Feed Phytogenics:
Feed
Phytogenics market
is expected to witness rapid growth over the forecast period. Rapid
growth of feed phytogenics market can be attributed to the factors
such as increasing per capita meat consumption coupled with the
rising livestock production over the forecast period. Rise in meat
consumption brought a significant increase in the utilization of feed
additives. Growth of organic meat sector also contribute vitally to
the growth of feed phytogenics market. Further, the reduced usage of
antibiotics as growth promoters also acted favorably in raising the
demand for feed phytogenics market. Ban on the use of antibiotics by
European Union and U.S. FDA supports the increased consumption of
feed phytogenics. Furthermore, with the implementation of new
technologies like encapsulation of active ingredients, the efficacy
of phytogenic feed additives improved to a great extent.
Market
Segmentation of Feed Phytogenics:
Feed
Phytogenics market is segmented on the basis of type, livestock, and
geography. Based upon type, feed phytogenics market is segmented into
essential oils, oleoresins, herbs & spices, and others such as
echinacea, mucilage etc. Essential oil is expected to attain
relatively higher market share in the feed phytogenics market. High
revenue share of essential oils in the feed phytogenics market can be
attributed to its high contribution as feed additives in promoting
animal nutrition. On the basis of livestock, feed phytogenics market
is segmented into ruminants, swine, poultry, equine, aquatic, and
others such as pet animals. Poultry sub-segment among the livestock
segment is expected to account for relatively higher market value in
the global feed phytogenics market. Factors such as increasing demand
for safe and organic poultry, expansion of poultry segment are
expected to contribute significantly in the segment growth during the
forecast period.
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Regional
Outlook of Feed Phytogenics:
Based
on geography, Feed Phytogenics market is segmented into seven
different regions namely Asia-Pacific, Middle East and Africa, Latin
America, Western Europe, Eastern Europe, North America, and Japan.
Asia Pacific is projected to attain relatively higher revenue share
in the global feed phytogenics market. Higher revenue share of the
region can be attributed to the continuous investments made by
manufacturers in order to expand their geographical presence in the
emerging economies. Europe is expected to witness rapid growth in the
feed phytogenics market during the reviewed period. Ban of in-feed
antibiotics by the European Union is expected to elevate the demand
for feed phytogenics during the forecast period.
Key
Market Players in Feed Phytogenics:
Some
of the key players in the feed phytogenics market include Cargill
Incorporated., Delacon Biotechnik GmbH, Phytobiotics
Futterzusatzstoffe GmbH, BIOMIN Holding GmbH, E. I. du Pont de
Nemours and Company, Pancosma SA, and Nutricare Lifesciences,
Silvestris among others. Leading manufacturers in the feed
phytogenics market are keen to expand their product portfolio to
strength their position in the market. New product developments
coupled with the increased R&D investments are some of some of
the key initiatives taken by the companies to meet the growing demand
for feed phytogenics.
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