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Feed Phytogenics Market 2024 Trends & Regional Revenue by Top Manufacturers Delacon Phytogenic Feed Additives, Nutricare, Pancosma and Silvestris & Szilas Ltd
Feed Phytogenics Market
Global meat production accounted for approximately 310 million tons in 2014, and is estimated to grow annually by 2%, which will positively impact Phytogenics industry size. Moreover, escalating consumer demands for eradicating the use of antibiotics from meat is further boosting Phytogenics market revenue. Rising concerns regarding human & animal health and the environment are promoting phytogenic feed additives demand widely.
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The government initiatives towards eliminating the use of antibiotics in meat products and encouraging natural growth promoters is also favoring the industry growth. For instance, the EU has banned the antibiotics use in animal products since 2006. Also, US FDA has declared to stop its usage by 31stDecember, 2016. In addition, private companies dealing with meat production are also supporting the use of NGPs over antibiotics. McDonalds and Tyson Foods in US have declared to stop antibiotics usage in their meat products.
However, complex nature of these compounds and their unpleasant taste and odor may inhibit the market size over the forecast timeframe.
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US market will witness a noticeable surge over the coming years, owing to the growing demand in poultry applications, which accounted for over USD 65 million in 2017.
Asia Pacific is expected to dominate the global feed Phytogenics market over the forecast period. The growth can be attributed to the high meat consumption rate, increasing purchasing power of the consumers, and the growth of new frozen meat outlets across the region. India and China will contribute majorly towards the regional growth. Europe market will experience moderate gains over the coming years, mainly driven by favorable government regulations and growing health awareness across this region.
Key industry participants are Bioamin, Nor-Feed Sud, Biotechnik, Delacon, Nutricare Lifesciences, Pancosma SA, Silvestris, and TrueVet.
Browse key industry insights from this 2018 report @
https://www.graphicalresearch.com/industry-insights/1086/feed-phytogenics-market
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https://www.graphicalresearch.com/industry-insights/1086/feed-phytogenics-market
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