Phytogenic Feed Additives Market Scenario
Encapsulated technology enhances the efficiency of phytogenic feed additives coupled with rise in demand for naturally produced feed additives as alternatives to in-feed antibiotics are some of the major factors propelling the phytogenic feed additives market globally. Furthermore, growing concerns regarding animal health is also one of the factor propelling the growth of phytogenic feed additives market. However, cost of active ingredients used in phytogenic feed additives is one of the major factor expected to hamper the global growth of the phytogenic feed additives market.
Phytogenic Feed Additives Market Segmentation
The phytogenic feed additives market is segmented by Source, Form, Type, Livestock, Function and Geography. Various Source of phytogenic feed additives are Herbs & Spices, Flowers and Fruits & Vegetables. Likewise, phytogenic feed additives are manufactured in various Forms such as Liquid and Dry. The Type comprises of Essential Oils, Flavonoids, Saponins, Oleoresins and Others. Furthermore, Various Livestock studied in the report are Poultry, Swine, Ruminants, Aquatic Animals and Others. The phytogenic feed additives has numerous Functions such as Performance Enhancers, Antimicrobial Properties, Palatability Enhancers and Others. Geographically, the Phytogenic feed additives Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.
Phytogenic Feed Additives Market by Geography
Geographically, the phytogenic feed additives market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Europe is expected to account for the fastest CAGR during the forecast period. Factors such as the prohibited use of antibiotics in animal feed, stringent regulations imposed by the European Commission on synthetic feed additives, and growth in the consumption of phytogenics in livestock feed, to enhance feed palatability and livestock performance, are projected to drive market growth in the coming years.
Phytogenic Feed Additives Market Key Players
Some of the major players operating in the global phytogenic feed additives market includes Delacon Biotechnik GmbH, BIOMIN Holding GmbH, Bluestar Adisseo Co., Ltd., DowDuPont, Kemin Industries, Inc., Dostofarm GmbH, Phytobiotics Futterzusatzstoffe GmbH, Pancosma, Phytosynthese, Synthite Industries Ltd., Silvateam S.P.A, Natural Remedies, Ayurvet Limited, Growell India, Indian Herbs, Nutrex Be, Nor-Feed, Igusol S.A and Himalaya Wellness. New product launch, agreement & collaboration, investment & expansion, and merger & acquisition were the major growth strategies adopted by the market players to enhance their regional presence.
Phytogenic Feed Additives Market Report Key Benefits