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Feed Phytogenics Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Feed Phytogenics Market
Intense practice of selective breeding and growing awareness among the consumers regarding quality of the meat and increased consumption of meat around the world are the major driving factors of the market. Furthermore, growing demand for nutritive feed, increasing number of livestock, sustainable animal nutrition products, growing management of feed operating costs are expected to improve revenue share of the feed phytogenics. However, lack of efficacy of these products because of their complex nature and unpleasant taste and odour will hamper the growth of the feed phytogenics market.
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The feed phytogenic market is classified on the basis of type, livestock, function and geography.
Based on type, feed phytogenics market is segmented as
• Oleoresins
• Essential oils
• Herbs & spices
Based on livestock, feed phytogenics market is segmented as
• Ruminants
• Swine
• Equine
• Poultry
• Canine
• Faline
• Aquatics
Based on function, feed phytogenics market is segmented as
• Palatability enhancers
• Performance enhancers
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Feed phytogenics market is less concentrated and moderately competitive because of the presence of few firms. Companies are adopting various growth strategies such as new product developments and launches, acquisitions, collaborations, agreements etc. to ensure their presence in the market. Palatability enhancers are attaining significant position in feed phytogenics as they have high influence in enhancing the intake of food in animals. The use of essential oils as feed phytogenics in animal feed is increasing due to antibiotic growth promoters are banned as feed additives in EU since 2006 and by U.S.FDA by December 2016.
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On the basis of geographical regions, feed phytogenics market is classified as into five key regions as Europe, Asia- Pacific, North America, Middle East & Africa and Latin America. APAC region is projected to acquire relatively high market share in feed phytogenics market globally owing to the continuous investments by the manufacturers to expand their geographical presence in emerging economies. Europe is anticipated to show rapid growth in feed phytogenics market due to ban of antibiotic feed additives by the European Union. North America is also experiencing rapid growth in production capacity of phytogenic feed as a rise demand for the poultry products.
Few players in Feed Phytogenics Market are 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), and A&A Pharmachem Inc. (Canada).
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