Feed Phytogenics Market Size By Product (Essential Oils, Herbs & Spices, Oleoresins), By Livestock (Poultry, Swine, Ruminant, Aquatic, Equine), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, UK, Netherlands, Poland, Belgium, Spain, Russia, Italy, China, India, Japan, Philippines, Indonesia, South Korea, Taiwan, Thailand, Vietnam, Australia, Malaysia, Brazil, Argentina, Peru, Chile, Colombia, Nigeria, South Africa, Turkey), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Feed Phytogenics Market may exceed USD 790 billion by 2024; according to a new research report.
Significant product benefits related to livestock health such as increased feed intake, digestion stimulation, growth performance, reduced diarrhea prevalence along with improvement in reproductive system may accelerate feed phytogenics market growth. Growing prevalence of diseases such as Porcine Epidemic Diarrhea (PEDv), Bovine Spongiform Encephalopathy (BSE), and bird flu has led to increased concerns among farmers to use additives in animal feed including phytogenic ingredients.
Increasing per-capita meat consumption coupled with rising middle-class disposable income, particularly in China, India, South Korea, and Brazil, is likely to drive demand for livestock production thereby boosting feed phytogenics market. These countries have witnessed a rise in per capita income and an improving lifestyle which has led to high demand for superior quality meat. Increasing per capita income of India and China coupled with the improving lifestyle has led to high demand for superior quality meat.
Increasing awareness of adverse health effects of antibiotics residue in animals has led to the ban of antibiotic growth promoters (AGP) in several countries such as the U.S., Germany and France. These antibiotics may result in the development of drug-resistant microbial strains which may cause diseases such as aplastic anemia and typhoid in humans. The ban has resulted in increased need for alternate feed additive to help maintain the health of livestock animals which is likely to stimulate feed phytogenics market growth.
Essential oils feed phytogenics market surpassed USD 300 million in 2017 on account of its ability to reduce rumen ammonia production and increase protein. These products can limit the growth of pathogenic bacteria in the gut leading to better absorption of nutrients. Moreover, they contain various active components such as thymol, eugenol and allicin which are active participants in enhancing the performance of animals by boosting immunity and may boost feed phytogenics market growth.
UK feed phytogenics market from poultry applications may surpass USD 10 million by 2024. The country is witnessing an increase in organic and safe poultry meat demand which is likely to push feed industry to look for viable alternatives to antibiotic products. These products regulate gut microflora thereby improving nutrient digestibility and limit pathogen growth which may stimulate market growth.
North America feed phytogenics market led by the U.S., Canada and Mexico may witness gains exceeding 3% in the forecasted timeframe. Motivated by personal health, animal welfare, taste, quality and environmental concerns, the consumers are seeking alternatives to conventional meat products. U.S. farmers are shifting towards safe and natural additives in feed to increase meat suitability for export to Mexico, Russia, China, Japan, Canada, South Korea and Middle East which are experiencing rising demand for natural feed additives and organic meat, thus accelerating feed phytogenics market growth.
Global feed phytogenics market share is substantially competitive and fragmented among several manufacturers such as DuPont Danisco, Doterra, Synthite Industries Ltd., The Himalaya Drug Company, Biomin Holding GmbH and Dodson and Horell. Several industry participants are engaging in strategic acquisitions to enable market expansion and achieve competitive advantage.
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