Global Feed Phytogenics Market Outlook
There is a constant increase in demand for food products owing to the increasing population. With the growing awareness about health issues caused due to the use of chemicals in the food chain, there is an increasing demand for the inclusion of natural ingredients in the food chain. Animal-based products food products are popular and are largely consumed across the globe. Thus animal feed is one of the largest and robustly growing sectors. With the on-going trend of introducing naturally sourced ingredients in the food chain, there is in an increasing demand for additives like feed phytogenics. Feed Phytogenics are a group of plant-based feed additives, and function as non-antibiotic growth promoters. Feed phytogenics are used as performance enhancers as well as palatability enhancers. Feed phytogenics provides various benefits such as increased feed intake, improved growth performance, stimulating digestion, improved feed conversion efficiency and thus increasing profitability. Thus with the increasing demand for animal-based products as well as natural feed additives, the demand for feed phytogenics is expected to increase over the forecast period.
Global Feed Phytogenics Market Dynamics
With the increasing demand for animal-based products, puts pressure on the feed sector to improve livestock productivity with limited resources. Feed phytogenics thus prove to be an efficient as well as a sustainable option by improving feed conversion ratio and enhancing the performance of feed phytogenics. Increasing health-related concern about prolonged use of various chemicals as feed additives has become of the major driver for feed phytogenics market. The increasing demand for various processed meat and poultry products along with rapid commercialization of livestock feed industry is expected to have a positive impact on the growth of the global feed phytogenics market. The stringent government regulation about the use of antibiotics in animal feed is expected to drive the growth feed phytogenics market. Thus with increasing demand as well as the number of benefits offered the global feed phytogenics market is expected to grow positively in terms of value as well as volume over the forecast period.
Global Feed Phytogenics Market Segmentation
On the basis of Type, the global feed phytogenics market can be segmented as
On the basis of Livestock, the global feed phytogenics market can be segmented as
On the basis of Function, the global feed phytogenics market can be segmented as
Global Feed Phytogenics Market Key Players
Some of the key players in global feed phytogenics market include Delacon Biotechnik GmbH, BIOMIN, Kemin Industries, E. I. du Pont de Nemours and Company, Phytobiotics Futterzusatzstoffe GmbH, Dostofarm, Pancosma, A&A Pharmachem Inc., Adisseo, Vetsfarma Ltd, Cargill Inc., and others. Many of feed manufacturers are taking interest to invest in feed phytogenics market owing to lucrative opportunities.
Opportunities for Market Participants
The global feed phytogenics market is growing, thus opening numerous opportunities for various emerging as well as existing players. Feed phytogenics being a new class of feed additives, have thus manufacturers are largely investing in R&D to diversify their product portfolio by the inclusion of feed phytogenics. Many livestock producers in potential markets like North America and Europe are moving to organic and sustainable production creating several opportunities for feed production to explore the use of feed phytogenics to cater the demand. With stringent government policies about the use of antibiotics as well as limited producers, especially in potential and emerging markets, key players are implementing various strategies to increase their presence in feed phytogenics market.
Global Feed Phytogenics Market: A Regional Outlook
The global Feed Phytogenics market can be regionally segmented as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. The feed phytogenics market in the European region is expected to be a lucrative market owing to increasing demand for sustainable and natural feed additives as well as regulations related to the use of antibiotics as feed additives. East Asia, as well as South Asia regions, are expected to be exhibit growth in feed phytogenics market owing to increasing consumption as well as the production of animal feed.