Global Phytogenic Feed Additives Market Overview
Phytogenic feed additives generally consist of herbal plants. Phytogenic Feed Additives are made of a wide range of substances which are classified as per their origin, composition and processing. These herbal plants can be non-woody flower plants or essential oils derived from plant materials for instance, fruits, leaves, flowers and roots that are aromatic oily liquids or herb spices with extensive taste and smell or oleoresins which are non-aqueous solvent extracts derived from plant materials. There have been various restrictions in many countries over the use of in-feed antibiotics. Introduction of phytogenic feed additives also called as phytobiotics, have resulted in product derivation for potential animal performance improvements. Phytogenic feed additives have potential antimicrobial properties other than providing anti-oxidative effects. These animal feed additives also help in improving growth by enhancing palatability as well as improving gut functioning for increased food intake. Phytogenic feed additives consist of a range of biologically active properties such as anti-inflammatory and anti-oxidant properties that are expected to expand its adoption on account of changing consumer behavior over the forecast period.
Market Size & Forecast
Phytogenic feed additives market is anticipated to record a decent CAGR of 5.3% over the forecast period. Many multi-national companies are concentrating towards new product advances in phytogenic feed additives. Moreover, the many advantageous properties of phytogenic feed additives are exploited in the field of dairy and poultry feed now and then. New uses in various animal populations for phytogenic feed additives are discovered through technological advancements which are expected to drive the phytogenic feed additives market rapidly.
Currently the global phytogenic feed additives market is observing vibrant growth owing to increasing demand of animal digestibility enhancers in the market. Advances in dairy industry in the past few years and growing technological explorations are projected to drive phytogenic feed additives market besides the wide range of functions of phytogenic feed additives in an immense range of industries such as dairy, poultry and aquaculture during the forecast period. On the basis of regional platform, global Phytogenic Feed Additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a precursor to animal nutrition in various animal care industries, North America is panned to observe substantial phytogenic feed additives market growth due to its innate nature of adopting technologically advanced products in its nascent stages. North America is anticipated to be followed by Asia-Pacific in terms of consumption due to expanding phytogenic feed additives requirements in antimicrobial animal treatment and careful feeding. On account of multiplying phytogenic feed additives uses on the back of increasing dairy and poultry population, Asia Pacific is budding as a regional Phytogenic Feed Additives and its derivatives consumption market.
Europe is expected to drive the demand and positively impact the growth of phytogenic feed additives market over the forecast period owing to increasing applications of phytogenic feed additives for improving gut functioning to provide with better quality products for the meat eating population of the region is expected to propel the market over the forecast period.
Our-in depth analysis of the global Phytogenic Feed Additives market includes the following segments:
Global Phytogenic Feed Additives Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The rising demand for phytogenic feed additives for various applications in dairy, poultry, aquaculture industries are expected to drive the market rapid over the forecast period. The growing R&D activity associated to phytogenic feed additives is expected to further increase the market growth owing to discovery of new applications of phytobiotics with technological advancements. Application of phytogenic feed additives in the improvement of gut function by stimulatory effect on digestive secretions such as enzymes, bile, and mucus by phytogenic substances to improve animal growth and quality is estimated to serve as a major factor in the growth of phytogenic feed additives market. Increased feed intake also helps in increasing the quality of animals on account of increased palatability of the diet due to enhanced odor and flavors of feed. Rapid economic development with increasing disposable income has increased demand for good quality dairy and poultry products such as eggs, milk, meat and more which is expected to boost the phytogenic feed additives market across the globe. Rise in feed costs due to use of antibiotics could be reduced by the use of phytogenic feed additives which will drive the market sturdily over the forecast period.
However, lack of awareness regarding the availability of these products and resistance towards change owing to lower profit margins is predicted to behave as restraining factors in the phytogenic feed additives market growth. Moreover, herbs and spices exhibiting antimicrobial properties may pose similar side-effect risks to the producers as well as meat consumers.
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