The global feed phytogenics market is growing at a substantial rate due to the progress in the animal feed industry.
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The Global Feed Phytogenics Market was worth $0.51 billion in 2016 and estimated to be growing at a CAGR of 6.35%, to reach $0.69 billion by 2021
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Phytogenic feed Ingredients such as essential oils, oleoresins, and herbs & species are utilized in animal food. These additives enhance nutrition to livestock such as swine, cattle & broiler which are mainly used for meat intake as a source of protein.
These products are also known to have antiviral, antifungal, and antimicrobial characteristics.
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The growth of the global Feed Phytogenics market is majorly driven by factors such as increasing reliability on natural growth promoters, rise in per-capita meat intake, and ban of in-feed antibiotics by the EU. However, lack of efficacy of these compounds due to their intricate nature and volatile nature of essential oils are the main factors hindering the growth of the market.
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The Global Feed Phytogenics market is segmented based on Ingredients, Animal Type, and Application. The market for Feed Phytogenics, on the basis of Ingredients, is classified into Essential oils, Oleoresins, Herbs and Species, and others.
Essential oils lead the global Feed Phytogenics market and are also projected to grow at the highest CAGR during the forecast period. This is due to the extensive range of health benefits provided such as gut health support, antibiotic cutback, and healthy ingestion in poultry.
On the basis of Animal Type, the global Feed Phytogenics market is segmented into Poultry, Aquaculture, Swine, Ruminant, and others. Under this segment, Poultry leads the market accounting for more than 35% of the market share.
However, calf is projected to be the fastest growing segment with a CAGR of 7.8%, as they protect them from scours, diarrhoea and other gastrointestinal discrepancies. On the basis of Application, the global Feed Phytogenics market is segmented into Flavouring and Aroma, Organic Trace minerals, Anti-Parasitic, Feed Intake and Digestibility, and others.
- Essential oils
- Herbs and Species
By Animal Type
- Flavouring and Aroma
- Organic Trace minerals
- Feed Intake and Digestibility
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Scope of the report:
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- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
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