SELBYVILLE, Delaware, March 11, 2020 /PRNewswire/ -- Global feed phytogenics market revenue is anticipated to cross USD 845 million by 2026, according to a new research report by Global Market Insights, Inc. Rising meat and dairy industry coupled with changing consumer perceptions towards nutrition is likely to augment the global industry demand.
Phytogenic feed additives comprise a wide range of plants, like herbs and spices and plant derived products like essential oils and oleoresins. They are widely used to supplement animal diets as it aids in boosting the metabolic rate & strengthens immune system against water and air borne contaminants. Additionally, industry players are rapidly innovative their product line by offering customized solutions mixed with herbs, essential oils, and flower extracts which is likely to boost the market growth.
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Increasing per capita income coupled with improved lifestyle and inclination to opt for superior quality meat products is likely to boost market demand. In addition, an increasing awareness about livestock diseases has led to the adoption of better animal nutrition practices, which is expected to play a major role in driving global phytogenics demand.
- Some major findings of feed phytogenics market analysis report include:
- The demand for feed phytogenics is increasing owing to rising meat and dairy industry
- Changing perceptions on nutrition, animal health, and sustainability measures is likely to trigger feed phytogenics market demand
- Industry players in the region are rapidly investing in research & development along with marketing initiatives to gain brand recognition
- Manufactures are investing in extraction methods to include pure essential oils, fruit, and flower extracts to gain unique selling point in market and broaden consumer base
- Easy availability of raw materials, economic manufacturing cost, abundance of skilled labor, and rising aquaculture industry is likely to boost APAC feed phytogenics industry
- Some of the major players operating in feed phytogenics market include Biomin GmbH, Nutricare Life Science Limited, Natural Remedies, Delacon Biotechnik, DowDuPont, and Phytobiotics Futterzusatzstoffe GmbH
- Changing consumer perceptions on quality of animal derived end products and rising cases of bacterial infections is likely to boost feed phyotgenics market share
- Stringent regulations in North America & Europe on addition of chemically fortified ingredients in animal is making farmers opt for feed phytogenics products
- Supportive government regulations to encourage the use of natural feed products is likely to stimulate market share
- Manufacturers are developing new packaging solutions, sourcing high quality & exotic raw materials in an attempt to create specialized feed phosphate solutions which is likely to boost market demand
Browse key industry insights spread across 220 pages with 222 market data tables and 41 figures & charts from the report, "Feed Phytogenics Market Forecasts By Livestock (Poultry, Swine, Ruminant, Aquatic, Equine), Product (Essential Oils, Herbs & Spices, Oleoresins), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:
Increasing reliability on natural growth promoters (NGPs) for livestock production such as broilers, swine and cattle for meat consumption is likely to drive feed phytogenics market outlook over the forecast period. Awareness among consumers over resistance development issues, allergy, and immunity loss due to antibiotic growth promoters (AGPs) consumption is likely to drive a trend in market towards feed phytogenics.
European phytogenic market is expected to be driven by European Commission's ban imposed on antibiotics in animal feed including tylosin, spiramycin, bacitracin, virginiamycin, carbadox, and olaquindox on account of causing adverse effects to livestock such as cattle, pigs, poultry and aquaculture species. The ban has resulted in increased need for alternate feed additive to help maintain the health of livestock animals which is expected boost feed phytogenics market trends.
Several market players are opting for consolidation initiatives to broaden consumer base, gain brand recognition, and diversify product portfolio. Rapid product penetration in market along with supportive government regulations should encourage adoption rates. Companies are also engaged in segment diversification by offering customized product lines catering to ruminants, swine's, and aquaculture products which is likely to augment market statistics.
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