Phytogenic Feed Additives - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Phytogenic Feed Additives Market accounted for $638.75 million in 2018 and is expected to reach $1,743.05 million by 2027 growing at a CAGR of 11.8% during the forecast period. Increase in demand for naturally produced feed additives, emphasis on improving poultry health, and check on the use of antibiotics are the factors driving the market growth. However, low profit margin may hinder the market growth.
Phytogenic feed additives usually consist of herbal plants and are made of a broad range of substances. They have potential antimicrobial properties other than providing anti-oxidative effects. These animal feed additives also aid in improving growth by enhancing palatability as well as improving gut functioning for increased food consumption.
By Livestock, the Poultry segment is likely to have a huge demand during the forecast period due to increase the demand for superior quality feed because of the rapid growth in poultry meat production. Based on geography, Europe is going to have a lucrative growth during the forecast period owing to the factors such as the prohibition of the use of antibiotics in animal feed and strict regulations imposed by the European Commission on synthetic feed additives.
Some of the key players profiled in the Phytogenic Feed Additives Market include Cargill Inc, BIOMIN Holding GmbH, DowDuPont, Bluestar Adisseo Co Ltd, Delacon Biotechnik GmbH, Natural Remedies, Phytosynthese, Ayurvet Limited, Dostofarm GmbH, Synthite Industries Ltd, Phytobiotics Futterzusatzstoffe GmbH, Silvateam S.P.A, Pancosma, Growell India, and Kemin Industries Inc.
• Essential Oils
• Other Types
• Antimicrobial Properties
• Palatability Enhancers
• Performance Enhancers
• Other Functions
• Fruits & Vegetables
• Herbs & Spices
Packaging Types Covered:
• Rigid Packaging
• Flexible Packaging
• Other Packaging Types
• Aquatic Animals
• Other Livestock
Distribution Channels Covered:
• Mass Retailers
• Internet Retailing
• Direct Selling
• Other Distribution Channels
End Users Covered:
• Poultry Shops
• Poultry Owners
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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