Feed Phytogenic Market to Register High Revenue Growth at 6.5% CAGR During 2017 - 2026
Rising Commercialisation in Livestock Sector propelling Demand for Feed Phytogenics
On account of the aforementioned factors, feed phytogenics have emerged as the best available option for minimizing feed expanses of dairy farm, by making improvements in feed conversion ratio and feed digestion. The livestock sector has witnessed a tremendous rise in commercialisation since the recent past, which in turn has propelled the demand for feed phytogenic among livestock producers worldwide.
Future Market Insights (FMI), in its recently published research report, has projected the global feed phytogenic market to ride on an impressive CAGR over the forecast period, 2017 to 2026. Nearly US$ 2,500 Mn revenues are estimated to be accounted by global sales of feed phytogenic by 2026-end.
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Increasing Emphasis on Feeding Livestock with Feed Additives Based on Natural Sources to Fuel Demand for Feed Phytogenics
Consumers across the globe are becoming more concerned about the food quality, owing to increasing occurrences of Salmonella and E. coli in meat and dairy products. Consumers are therefore shifting their preference toward processed meat and products, as these are manufactured under hygienic conditions. This has further led toward an increasing emphasis on feeding livestock animals with feed additives based on natural sources, thereby driving demand for feed phytogenics. Government organizations and manufacturers are making significant investments in research & development activities associated with feed phytogenics. However high cost of feed phytogenics, owing to stringent regulations imposed on product approvals, might act as a restraining factor for adoption of feed phytogenic in the near future.
Consumer health concerns regarding natural and healthy diet, particularly in meat & dairy products, has witnessed a rise in European countries. In addition, the European Union (EU) has banned adoption of in-feed antibiotics for livestock production. These factors have led to substantial demand for natural source-based meat & dairy products in the region, thereby resulting into increased demand for feed phytogenics. Europe is anticipated to remain the most lucrative market for feed phytogenics, followed by Europe. Asia-Pacific excluding Japan will also remain a lucrative region for growth of the feed phytogenic market.
Key Research Findings from FMI’s Report on Global Feed Phytogenic Market
Dominance of essential oils among products will remain unchallenged in the market. Sales of oleoresins will reflect the fastest expansion through 2026.
Feed phytogenic sales for poultry will ride on the highest CAGR through 2026, based on livestock. Between swine and aquatic animals, the former will account for larger revenue share of the market, while feed phytogenic sales for the latter will register a relatively higher CAGR during the forecast period.
Palatability enhancers will remain the largest function of feed phytogenics, followed by performance enhancers. These two functions of feed phytogenics will account for over 80% revenue share of the market during 2017 to 2026.
Leading Players are boosting their Operational & Technological Capabilities for Staying at Market’s Forefront
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Through strategies such as acquisitions, expansions, research agreements, and new product developments, companies producing feed phytogenics have been focusing on expansion of their presence across the globe. Leading players in the global feed phytogenic market are now boosting their operational and technological capabilities for staying at the forefront of the market. Potential opportunities exist for manufacturers of feed phytogenics across developing regions. Market players identified by FMI’s report include Igusol, Nutricare Life Sciences Ltd., Nor-Feed Sud, Natural Remedies Pvt. Ltd., Phytosynthese, A&A Pharmachem Inc., Pancosma SA, Phytobiotics Futterzusatzstoffe GmbH, Dostofarm GmbH, Biomin Holding GmbH, Kemin Industries, Inc., E. I. Du Pont De Nemours and Company, and Cargill Incorporated.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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