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Phytogenic Feed Additives Market Projected to be Resilient During 2021-2028

Phytogenic Feed Additives

Phytogenic Feed Additives

Phytogenic feed additives are plant-derived products deployed to enhance the poultry performance. Phytogenic feed additives possess antimicrobial activity, which results in anti-oxidative effects, enhanced palatability, thereby promoting growth in poultry. Phytogenic feed additives comprise of herbs and plants derivatives. Moreover, the rising health concerns make phytogenic feed additives a necessity for each and every individual involved in poultry business. In many ways, phytogenic feed additives can be much more beneficial compared to antibiotics which are infused in poultry for improving health and productivity of poultry.

The global phytogenetic feed additives market is witnessing significant growth on account of factors such as rise in demand of poultry products from consumers and increasing emphasis on improving poultry health will be expected to augment the market growth. The other factors motivating the growth of global market is changing view of consumers towards the quality of poultry products. However, consumers are now much aware what quality of poultry food products can be beneficial for their health. Poultry farms in order to satisfy customers and gain profit tend to switch towards phytogenic feed additives which do possesses the potential for improving poultry health and thus a quality product towards consumer’s end. Additionally, less profit margin, resistance towards change for earnings, lack of awareness about product benefit can be few of the restraints which can hold back the growth of phytogenic feed additives market

The market has been segmented based on product, function, livestock and region. Based on the product, the market is segmented as essential oils, herbs & spices, oleoresins, others. Based on the function, the market is segmented as palatability enhancers, performance enhancers, others. Based on livestock, the market is segmented as aquatics, poultry, swine, ruminants, equine, others. Based on region, the global Market can be divided into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand in Asia-Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Moreover, this growth is attributed to rise in population which is projecting the demand for poultry products in this region for improving quality of poultry benefit and business sustainability majorly in China, India, which is also boosting the market growth. Moreover, market is projected to witness healthy growth both in Europe as these regions staple diet is mostly meat based. In addition, poultry owners across these regions are adopting phytogenic feed additives for improving poultry quality. The markets in various other developing economies such as Brazil, Russia and Korea among others are also expected to witness a rapid growth throughout the forecast period. In addition to this, increasing per capita disposable revenue and rush in the global economy is another key factor which is expected to bring impetus in the growth of the global market during the forecast period.

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Key players operating in the global market are concentrating on some of the major market policies such as mergers, collaborations, partnerships and acquisitions in order to keep grip in the constantly competitive global market. Additionally, they are aiming on gaining grip on the local players to support their goodwill as well as to enhance their market reach in the global market. Some of the major players in the global market include Biomin, Delacon Biotechnik, Pancosma SA, Danisco, British Horse Feeds, Miavit GmbH, Tolsa, S.A, A/B Technologies International, Inc. Dostofarm GmbH.

The Global Photogenic Feed Additives Market has been segmented
By Product:
• Essential oils
• Herbs & spices
• Oleoresins
• Others
By Function:
• Palatability enhancers
• Performance enhancers
• Others
By Livestock:
• Aquatics
• Poultry
• Swine
• Ruminants
• Equine
• Others
By Region:
• North America
• Latin America
• Europe
• Middle East & Africa
• Asia Pacific

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