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 report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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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, the report also focuses 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 the question of shareholders prioritizing the efforts and investment in the near future to emerging segments in the feed phytogenic market.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the 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 an exciting group of feed additives, comprising a wide range of substances that are categorized according to the botanical origin, processing, and composition.
Growth of the phytogenic industry is facilitated by the increasing number of countries outside the European Union restricting or banning the use of AGPs in animal feed responding to growing consumer concerns over their safety. Moreover, the 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 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, the 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 the growth of about 3.6% over the forecasted period. There is a 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 the highest possible profitability.
In terms of function, the 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 among consumers regarding feed additive benefits among livestock farmers coupled with the recent outbreaks 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 a nearly three-fifth revenue share of the market by 2026.
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The Scope of the Global Feed Phytogenics Market: Inquire before buying
Global Feed Phytogenics Market, by Type:
• Essential Oilsrn• Herbs & Spicesrn• OleoresinsrnGlobal Feed Phytogenics Market, by Livestock:
• Swinern• Ruminantsrn• Aquatic Animalsrn• PoultryrnGlobal Feed Phytogenics Market, by Function:
• Performance Enhancersrn• Palatability EnhancersrnGlobal Feed Phytogenics Market, by Region:
• North Americarn• Europern• Middle East & Africarn• Asia-Pacificrn• South AmericarnKey Players Operating in the Global Feed Phytogenics Market:
• Delaconrn• Biominrn• Cargillrn• DuPontrn• Adisseorn• Dostofarmrn• Phytobiotics Futterzusatzstoffe GmbHrn• Pancosmarn• A&A Pharmachem Inc.
• Kemin Industriesrn• Phytosynthesern• Igusolrn• Indian Herbs Specialitiesrn• Akay Grouprn• Himalay
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