Global Feed Phytogenics Market valued approximately USD 530.45 million in 2016 is forecasted to grow with a healthy growth rate of more than 8.95% over the forecast period 2018-2025.
The major factors speculated to augment the markets are prohibition on antibiotics as growth promoters, developments in the feed industry, augmented requirements for livestock products, and health assistances of phytogenics.
Escalating emphasis on unexploited markets is one of the likely opportunistic areas for the growth of the market whereas high prices of natural feed additives is one of the prime restraining factors of the market. Phytogenics are an assembly of natural growth promoters (NGPs) or non-antibiotic growth promoters utilized as feed additives, originating from spices, herbs and other plants.
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Global Feed Phytogenics Market is segmented based on Type, Function, and Livestock. The Essential Oils subsegment of Type segment is expected to show a tendency of dominance with largest market share through forecasted period. Palatability Enhancers subsegment is expected to grow by the highest CAGR in the Function segment. Whereas, the Poultry subsegment of Livestock segment is anticipated to hold the biggest market share.
The regional analysis of Global Feed Phytogenics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading region across the world in terms of market share due to the rising requirements for quality meat products and other factors.
Moreover, owing to increasing no. of multinational manufacturers in countries like New Zealand, China & Japan, the Asia Pacific region is expected to dominate the market over the forecast period 2018-2025.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Herbs & Spices
- Essential Oils
- Palatability Enhancers
- Performance Enhancers
- Aquatic Animals
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- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2015, 2016
- Base year – 2017
- Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Delacon Biotechnik GmbH, Silvateam S.P.A., Phytobiotics Futterzusatzstoffe GmbH, Dupont, Bluestar Adisseo Company, Biomin Holding GmbH, Kemin Industries, Inc., A&A Pharmachem Inc., Dostofarm GmbH, Pancosma, Phytosynthese, Synthite Industries Ltd., Cargill, Nor-Feed Sud, Natural Remedies Pvt Ltd., Danisco, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
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Target Audience of the Feed Phytogenics Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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