DUBLIN, June 12, 2018 /PRNewswire/ --
The "Feed Phytogenics Market by Type (Essential Oils, Herbs & Spices, Oleoresins, and Others), Livestock (Swine, Ruminants, Aquatics, Equine, Poultry, and Others), Function, & by Region - Global Trends & Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
The feed phytogenics market is projected to grow at a CAGR of 8.8%, to reach a value of USD 962.5 Million by 2023 from USD 631.4 Million in 2018.
The market growth is driven by advancements in the feed industry, increased demand for livestock products, the rise in awareness about animal health & feed quality, ban on antibiotics as growth promoters, and health benefits of phytogenics.
On the basis of function, the market was led by the palatability enhancers segment in 2017. Palatability enhancers help increase the feed intake in livestock due to the presence of flavor and aroma. Results are more prominent among young animals, which has increased the demand for these palatability enhancers due to increased growth of the animals resulting in high productivity of the animals.
On the basis of type, the essential oils segment accounted for the largest market share; this can be attributed to the ban on the use of antibiotics as growth promoters in animal feed. Essential oils can also be used in various blends and have strong aromatic and flavoring properties which drives the demand for these oils as feed additives.
On the basis of livestock, the feed phytogenics market was led by the poultry segment in 2017. The high demand for white meat has induced high pressure on the poultry meat market for high production. The ban on antibiotics growth promoters in regions such as Europe and South Korea has also boosted the demand for feed phytogenics in poultry, as they include antimicrobial, antiviral, and/or antioxidant properties.
The Asia Pacific region is an emerging market with investments from several multinational manufacturers, especially in countries such as China, New Zealand, and Japan. Asia Pacific accounted for the largest market share for feed phytogenics in 2017. The increasing demand for quality meat products, awareness about food safety and the quality of meat among consumers, and high requirement of feed additives with high conversion rate with no side effects in animals are driving the market for natural feed products in the region, thereby boosting the demand for feed phytogenics.
However, the high cost of these natural feed additives and complex composition of phytogenic feed additives are expected to restrain the market growth over the next few years, especially in developing countries such as China, India, and Brazil where the dependence on chemical crop protection products is high.
Availability of raw materials depends on climatic conditions; the high cost of feed phytogenics products and low shelf life of these natural feed additives have resulted in the expansion of key players into various regions to manufacture phytogenics locally in developing countries such as China, India, and New Zealand.
Companies such as Delacon (Austria), Cargill (US), DuPont (US), Biomin (Austria), and Adisseo (China) have acquired leading market positions in the feed phytogenics market through the provision of a broad portfolio, catering to the varied requirements of the market, along with a focus on diverse end-user segments. They are also focused on innovation and are geographically diversified.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in this Market
4.2 Feed Phytogenics Market Size, By Type & Region
4.3 Europe: the Fastest-Growing Market for Feed Phytogenics
4.4 Feed Phytogenics Market Size, Developing vs Developed Countries
4.5 Feed Phytogenics Market, By Function
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancements in the Feed Industry
5.2.1.2 Increased Demand for Livestock Products
5.2.1.3 Rising Awareness About Animal Health & Feed Quality
5.2.1.4 Ban on Antibiotics as Growth Promoters
5.2.1.5 Health Benefits of Phytogenics
5.2.2 Restraints
5.2.2.1 High Cost of Natural Feed Additives
5.2.2.2 Complex Composition of Phytogenic Compounds
5.2.3 Opportunities
5.2.3.1 Increasing Focus on Untapped Markets
5.2.4 Challenges
5.2.4.1 Low Awareness About the Usage of Phytogenics in the Feed Industry
5.3 Supply Chain Analysis
6 Feed Phytogenics Market, By Type
6.1 Introduction
6.2 Herbs & Spices
6.3 Essential Oils
6.4 Oleoresins
6.5 Others
7 Feed Phytogenics Market, By Function
7.1 Introduction
7.2 Performance Enhancers
7.3 Palatability Enhancers
7.4 Others
8 Feed Phytogenics Market, By Livestock
8.1 Introduction
8.2 Ruminants
8.2.1 Calves
8.2.2 Dairy Cattle
8.2.3 Beef Cattle
8.2.4 Others
8.3 Poultry
8.3.1 Broilers
8.3.2 Turkey
8.3.3 Layers
8.3.4 Others
8.4 Swine
8.4.1 Starter
8.4.2 Grower
8.4.3 Sow
8.5 Aquatic Animals
8.6 Others
9 Feed Phytogenics Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Company Rankings
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Acquisitions
10.3.3 Agreements & Partnerships
10.3.4 Expansions & Investments
11 Company Profiles
11.1 Introduction
11.2 Cargill
11.3 Dupont
11.4 Biomin Holding GmbH
11.5 Delacon Biotechnik GmbH
11.6 Bluestar Adisseo Company
11.7 Kemin Industries, Inc.
11.8 Dostofarm GmbH
11.9 Phytobiotics Futterzusatzstoffe GmbH
11.10 Pancosma
11.11 A&A Pharmachem Inc.
11.12 Phytosynthese
11.13 Synthite Industries Ltd.
11.14 Silvateam S.P.A.
For more information about this report visit https://www.researchandmarkets.com/research/jv8sdk/962_5_million?w=5
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