May 14, 2020
As per the report titled ‘Feed Phytogenics Market Size By Product, By Livestock, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global feed phytogenics market is expected to record a healthy growth rate during 2020-2026.
Increase in meat consumption and growing consumer inclination towards exotic sea food is driving the growth of global feed phytogenics market. Phytogenics are a collection of NGPs (natural growth promoters), derived from herbs, spices, and other plants. These products are normally considered as favorable alternatives to in-feed antibiotics in livestock production.
Various benefits such as increase in feed intake, enhanced reproductive & performance parameters, and improved feed-efficiency, leading to higher profitability is favoring the use of phytogenics in livestock nutrition for cow diets, pig diets, poultry diets, as well as in pet food.
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Based on product terrain, the market is bifurcated into essential oils, herbs & spices, oleoresins, and others. The others segment comprises of seeds, flower extracts, fragrant oils, and exotic natural ingredients. Seeds segment is bound to gain decent traction during the forecast period. The growth can be credited to high use of chia seeds, sesame seeds, pumpkin seeds, and sunflower seeds for feeding livestock specifically in poultry and ruminants, owing to rich oil content and nutrition value. Chia seeds are considered an ideal horse supplement due the presence of protein fiber, omega 3 fatty acids, minerals, and antioxidants.
Elaborating on the livestock, equine segment is likely to display robust growth in the forthcoming years, owing to rising prevalence of bacterial and fungal infections in horses, which has led to increased demand for high quality feed, especially for racing horses.
Considering the geographical landscape, Middle East & Africa feed phytogenics market is anticipated to exhibit strong growth trends over the forecast timeline, on account of growing consumer preference for exotic sea food in tandem with escalating demand for fish derivatives such as caviar and cod liver oil in the region.
On the other, Latin America feed phytogenics market is driven by increasing meat consumption on account of rising disposable income and growing awareness regarding the benefits of red meat.
Key players operating in global feed phytogenics market are Dostofarm GmbH, Delacon Biotechnik GmbH, DowDuPont, Phytobiotics Futterzusatzstoffe GmbH, Biomin GmbH, Pancosma, Natural Remedies Pvt. Ltd., Igusol, Nutricare Life Sciences Limited, Nor-Feed, Indian Herbs Specialities Pvt. Ltd., Phytosynthese, Natural Herbs & Formulations, Himalaya, and AMORVET among others.