Global Feed Phytogenics Market was valued at US$ 628 Mn in 2017 and is expected to reach US$ 1224 Mn by 2026, at a CAGR of 8.7 % during a forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding feed phytogenic market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in feed phytogenic market. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Growing concerns globally over Antibiotic Growth Promoters (AGPs) in animal nutrition, resulted in efforts to use alternative ingredients that can effectively replace AGPs, phytogenic being one such alternative. Phytogenics are exciting group of feed additives, comprising a wide range of substances that are categorized according to botanical origin, processing, and composition. Growth of the phytogenic industry is facilitated by the increasing number of countries outside of the European Union restricting or banning the use of AGPs in animal feed in response to growing consumer concerns over their safety. Moreover, growth of the phytogenic industry, which currently stands at US$ 628 Mn globally, is aided by a growing demographic of consumers who favor the use of natural, organic and feed additives.
Nevertheless, less standardization in the industry and the availability of phytogenic via more traditional routes of supply hinder the growth of the industry. Hence, individual manufacturers offer their own variety of processed herbals as phytogenic feed additives. This restraint is likely to have a high impact over the course of the forecast period. Based on type, essential oils segment accounted for the largest market share of the global feed phytogenic market in 2017 and is likely to be dominant throughout the forecast period. The wide use of essential oils as feed phytogenic in animal feed is growing continuously as it substitutes antibiotic growth promoters, which are banned as feed additives.
Based on Livestock, The Poultry segment holds the highest market share of the global feed phytogenic market in 2017. Feed phytogenic Industry size from poultry may witness growth of about 3.6 % over the forecasted period. There is rise in growth in organic and safe poultry meat demand which has led to an increase in broiler producers seeking high density diets to feed their stocks and seek highest possible profitability. In terms of function, palatability enhancers segment is anticipated to be the fastest-growing segment in the feed phytogenic market in 2017. The use of phytogenic as palatability enhancers segment with the growing need to increase the productivity of animals due to the increasing demand for animal-based products. These products increase the demand for feed intake in the animals, particularly in the younger animals, thereby promoting the growth of the animals.
Geographically, APAC dominated the feed phytogenic market in 2017. The region is growing in livestock production for meat consumption coupled with increasing per capita disposable revenue. Growing awareness between consumers regarding feed additive benefits among livestock farmers coupled with recent outbreak of diseases may promote regional growth during the forecast period. Europe and North America will continue to be the largest markets followed by APAC for feed phytogenic, collectively estimated to account for nearly three-fifth revenue share of the market by 2026.
The Scope of Global Feed Phytogenics Market:
Global Feed Phytogenics Market, by Type:
• Essential Oils • Herbs & Spices • Oleoresins
Global Feed Phytogenics Market, by Livestock:
• Swine • Ruminants • Aquatic Animals • Poultry
Global Feed Phytogenics Market, by Function:
• Performance Enhancers • Palatability Enhancers
Global Feed Phytogenics Market, by Region:
• North America • Europe • Middle East & Africa • Asia Pacific • South America
Key Players Operating in Global Feed Phytogenics Market:
• Delacon • Biomin • Cargill • DuPont • Adisseo • Dostofarm • Phytobiotics Futterzusatzstoffe GmbH • Pancosma • A&A Pharmachem Inc. • Kemin Industries
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