North America Feed Phytogenics Market by Ingredients (Essential oils, Oleoresins, Herbs and Species, and others), by Animal Type (Poultry, Aquaculture, Swine, Ruminant, and others), by Application (Flavouring and Aroma, Organic Trace minerals, Anti-Parasitic, Feed Intake and Digestibility, and others), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021
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The North America Feed Phytogenics Market was worth $0.12 billion in 2016 and estimated to be growing at a CAGR of 5.96%, to reach $0.16 billion by 2021.
Progress in the animal feed industry has resulted in the feed phytogenics market growing at a substantial rate.
Phytogenics are a set of natural growth promoters (NGPs) utilized as feed additives, obtained from herbs, spices or other plants. They are generally viewed as favourable substitutes to antibiotic growth promoters (AGPs) in livestock production.
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The growth of the North America Feed Phytogenics market is majorly driven by factors such as high demand for nutritious feed and viable animal nutrition products, environmental concerns over animal waste pollution, rising intake of meat, and management of feed operating cost. However, lack of efficiency of these compounds due to their intricate nature combined with the unlikeable taste or odour of particular substances may hinder demand and affect the market price movement.
Particular compounds such as essential oils are unstable in nature which can cause quick evaporation and causing disparity in final concentration of feed products.
The North America 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 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 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 Feed Phytogenics market is segmented into Flavouring and Aroma, Organic Trace minerals, Anti-Parasitic, Feed Intake and Digestibility, and others.
The North America market has been geographically segmented into USA and Canada. North America holds third position in the global feed Phytogenics market.
With increasing awareness of synthetic additives and adapting the policy of Europe regarding the ban of antibiotics has ensued in the utilization of feed Phytogenics as supplement to antibiotics. The farmers are also moving towards natural and safe additives in feed for increasing the animal performance.
- Essential oils
- Herbs and Species
By Animal Type
- Flavouring and Aroma
- Organic Trace minerals
- Feed Intake and Digestibility
Scope of the report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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