Global Feed Phytogenics Market projected to grow with significant CAGR over the forecast
Global Feed Phytogenics Market projected to grow with significant CAGR over the forecast
Plant products like herbs, spices etc, which are basically used to feed cattle and other domesticated animals for their better result are known as feed phytogenics. These feed phytogenics are available in grounded form, dried form or in the form of oil or extracts and they have several properties like antioxidant, antifungal, antiviral and antimicrobial.
Feed Phytogenics Market – Drivers Vs Constraints
Growing demand for meat, rising awareness for meat quality and practice of selective breeding are the main driving forces for the feed phytogenics market. Also, factors like growing demand for nutritive feed for cattle, increase in number of cattle around the world, more focus on reducing animal feed operating cost are other factors that are likely to improve revenue for the phytogenics.
Due to complex nature of the product and their unpleasant odour and taste, they are mostly not liked by the cattle and the desired result can’t be achieved. So this is the main hindrance to the growth of the feed phytogenics market.
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The Feed Phytogenics Market – Classification
The feed phytogenics market can be broadly classified on the basis of type, livestock, function and geography.
On the basis of type, the feed phytogenics market can be classified into the following categories:-
• Oleoresins
• Essential oils
• Herbs & spices
On the basis of livestock, the feed phytogenics market can be classified into the following categories:-
• Ruminants
• Swine
• Equine
• Poultry
• Canine
• Faline
• Aquaculture
On the basis of function, the feed phytogenics market can be classified into the following categories:-
• Palatability enhancers
• Performance Enhancers
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The Feed Phytogenics Market – Competition Analysis
Due to presence of fewer players in this segment, the feed phytogenics market is less competitive and not so concentrated. The major players are adopting strategies like joint agreements, acquisitions, collaborations and new product development in order to grow. Due to ban on antibiotic growth promoters as feed additives in Europe and US, essential oils are getting the needed attention of the consumers. Also, palatability enhancers are getting traction in the feed phytogenics market as do make the intake of food in animals better.
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Region wise Feed Phytogenics Market
On the basis of geography, the feed phytogenics market can be segmented into five major regions, these are:-
• North America
• Latin America
• Asia-Pacific
• Europe
• Middle East and Africa
Due to continuous investment by companies, the Asia-Pacific region is likely have a major portion of the share of the feed phytogenics market. Europe and North America is also likely to witness growth mainly due to ban on antibiotic feed additives in various countries in this region. Also, rapidly growing feed phytogenics production capacity in the North America to meet the growing demand of poultry products likely to fuel growth in this region.
Feed Phytogenics Market – Key Players
Few of the key players in this market are listed as below:-
• Dupont (U.S.), Cargill, Inc. (U.S.)
• Phytosynthese (France)
• Kemin Industries, Inc. (U.S.)
• BIOMIN Holding GmbH (Austria.)
• Delacon Biotechnik GmbH (Austria)
• PANCOSMA SA (Switzerland)
• DOSTOFARM GmbH (Germany
• Phytobiotics Futterzusatzstoffe GmbH (Germany)
• A&A Pharmachem Inc. (Canada).
Feed Phytogenics Market – Recent Developments
• July, 2017 - Delacon and Cargill entered into a strategic partnership to produce and market natural and plant-based feed additives on the global scale.
• March, 2017 - Biomin launched its innovative next generation feed phytogenic Digestarom.
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