Rising Concern Regarding Animal Feed Quality and Ban on Antibiotics to Drive the Phytogenic Feed Additives Market Growth

(I-BusinessNews.Com, December 12, 2019 ) The global phytogenic feed additives market size is estimated to be valued at USD 701 million in 2019 and is projected to reach USD 1,226 billion by 2025, growing at a CAGR of 9.8% during the forecast period. Phytogenics are non-antibiotic growth promoters representing a group of natural substances used in the livestock industry for nutrition. Phytogenics have evolved as a key feed additive, as they help increase feed intake, improve gut function, prevent diarrhea, and have antimicrobial and antioxidative effects on the livestock. This way, they enhance both feed palatability and livestock performance.

The phytogenic feed additives market is driven by advancements in the animal feed industry, such as the implementation of new technologies, including encapsulation, and government aids/funds propelling its usage. Along with this, factors such as an increase in the demand for livestock products, ban on antibiotics by the European Union (EU), and rise in awareness regarding animal health and feed quality, are driving the market for phytogenic feed additives, globally.

Based on type, the phytogenic feed additives market has been segmented into essential oils, flavonoids, saponins, oleoresins, and others. The essential oils segment is projected to be the fastest-growing during the forecast period, due to the increase in demand for alternatives to antibiotic growth promoters. Also, essential oils offer numerous benefits such as producing digestive enzymes, improving gut histology, and antibacterial characteristics, which further boost the consumption of essential oils as feed additives.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162036047

By livestock, the phytogenic feed additives market is segmented into ruminants, swine, poultry, aquatic animals, and others. The poultry segment is projected to grow at the highest rate during the forecast period since broilers intensively consume phytogenics for better gut health and have a high feed conversion rate as compared to other livestock types. Additionally, poultry population growth, which has doubled in the last two decades, according to the Food and Agriculture Organization of the United Nations (FAO), is supporting the high growth rate of the poultry segment.

The rising per capita income is increasing the demand for diversified food materials, among which meat holds the highest priority for their diet. Therefore, the increasing demand for livestock products, as well as expenditure on animal health and wellness, creates demand for feed in emerging markets, such as the Asia Pacific, Africa, and South American regions. This has created an opportunity for feed manufacturers to enter the untapped markets. For instance, in July 2017, Cargill and Delacon formed a partnership to provide their customers with efficient feed phytogenic products. Following this partnership, Delacon and Cargill together introduced phytogenic feed additives in China and Russia. Also, the growing ban on antibiotics, growth promoters in other Asian countries, such as Korea, Vietnam, Indonesia, and Bangladesh, are creating opportunities for phytogenic manufacturers to launch new products, thus driving the growth of the global phytogenic feed additives market.

Make an Inquiry:

Many domestic and global players provide phytogenic feed additives to improve animal health and performance. Major manufacturers have their presence in the European and Asian countries. The key companies in the phytogenic feed additives market are Cargill, Incorporated (US), Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), Bluestar Adisseo Co., Ltd. (China), and Natural Remedies (India). Various strategies, such as expansions, acquisitions, partnerships & agreements, and new product launches, were adopted by the key companies to remain competitive in the phytogenic feed additives market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh

Source: EmailWire.Com