Phytogenics Market Growth, Trends and Value Chain 2017-2027 by FMI
Feed additives are the food supplements used in animal nutrition with a purpose to enhance the feed quality and food provided to the animal. Phytogenics are used to enhance the quality of feed additives Phytogenics are antibiotic-free feed additives that represent a heterogeneous group of natural products. Phytogenics are also known as natural growth promoters (NGPs) used in the livestock nutrition. These phytogenics are derived from spices, herbs, leaves, roots, and other plants & its related extracts such as critical oils. The benefits of using phytogenics feed additives are rise feed intake, decrease incidence of diarrhea, stimulates digestion, enhance feed efficiency, improved performance and reproductive parameters. Phytogenics are available in dried, solid and ground form as it is extracted from essential oils. The advancement in the technology such as encapsulation helps in extending phytogenics shelf life and protect them from extreme environmental climate changes. Phytogenics have a potential to enhance the production performance and productivity of livestock. It can also perform antimicrobial activities, enhance palatability and can improve gut functions.
Phytogenics Market:Drivers and Restraints
Phytogenics market is witnessing maximum growth owing to rise in the demand for high-quality animal protein, organic products, growing commercialization of livestock sector, continuous technological enhancement, increasing independent retail food sector and government initiatives for animal welfare. Moreover, increasing concern over food quality, preference over processed animal products, limit on the use of in-feed antibiotics growth promoters in various countries have fueled the demand for phytogenics products.Moreover, rise in reliability on natural growth promoters in animal nutrition and reduction of ammonia and other greenhouse gasses effect are some other factors expected to flourish the phytogenics market. However, stringent government regulations for food and health safety, high feed prices, limited feed additives manufacturers, complex nature which leads to the lack of product efficiency and unfriendly taste of some compounds hamper the growth of phytogenics market in near future.
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The phytogenics market has been classified on the basis of product type, and livestock.
Based on product type, the phytogenics market is segmented into the following:
- Herbs & Spices
- Essential Oils
Based on Livestock, the phytogenics market is segmented into the following:
Based on product type, essential oil segment is the most lucrative segment in the phytogenics market owing to its benefits to the livestock which includes the reduction in antibiotics, instinctive health support, accelerate healthy digestion activity in livestock, and gut bacteria reduction. Based on livestock, poultry segment is expected to expand in near future especially in developing regions owing to its application such as coloring agents which improve egg yolk color along with reduction in the use of antibiotics in poultry diets creates an opportunity for animal food industry to consume alternative products and thereby rising demand for phytogenics feed additives.
Phytogenics Market: Region-wise Outlook
Depending on geographic region, phytogenics market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America dominates the phytogenics marketfollowed by Europe, Japan owing to high demand for beef, chicken and turkey without antibiotics, high awareness about animal welfare, advanced technology and ban on antibiotics use in these regions. Asia Pacific and Middle East and Africa hold huge potential and show substantial growth in terms of rising consumption of meat in countries such as India and China Moreover, increasing demand for nutritive feeds, rising number of animals, and growing demand for animal products such as dairy and eggs create significant challenge for farmers to enhance the livestock related productivity and thereby, increasing the growth of phytogenics market in emerging regions.
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Phytogenics Market:Key Players
Key players of phytogenics market are Phytobiotics Futterzusatzstoffe GmbH, Cargill Inc., Delacon Biotechnik GmbH, BIOMIN Holding GmbH, E. I. du Pont de Nemours and Company, Kemin Industries, Inc., Kerry group, Pancosma SA, Ensign-Bickford Industries Inc., Dostofarm GmbH, Ferrer HealthTech, and others.
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