Animal Feed Phytogenics Market

Description

The animal feed phytogenic market is valued at XX billion in 2016and expected to reachUS$ XX billion by 2022with a CAGR of XX% during the forecast period 2016-2022. Phytogenic animal feed comprisesof essential oils, herbs and spices and oleoresins which are used in animal food, these products enhance the nutrition of livestock such as swine, cattle & broiler which are majorly used for meat consumption as a source of protein. The additivesalso have antiviral, antifungaland anti-inflammatory properties for increased feed palpability, improvement in digestion, prevention of diseasesand higher growth performance. Supplements include amino acids, minerals and vitamins to grow and sustain.The animal phytogenic market size is expected to reach XX kilo tons by 2022. The market gained significant importance globally since it not only improves the overall health of an animal but also the quality of meat produced from them.This has provided an opportunity for the feed additive manufacturers.

Market dynamics:

Theincrease in awareness about the quality of food products, increase in meat consumption and regulation of harmful additives are the major driving factors. Also the increase in health concerns for livestock has led to a demand for natural feed additiveswhich subsequently provide an opportunity for the phytogenic feed companies to grow and increase their profits. Other driving forces include industrialization of livestock and meat industry, technological implementation in livestock industry enhanced the demand for high quality meat. Consumers are pursuing alternatives for traditional meat products. The ban on antibiotics in Europe and America also prompted consumers to prefer animals with natural growth promoters, thisis also expected to improve the market size with the use of natural growth promoters.

The increase in the cost of raw materials may hamper the growth of market since most of the additives such as antioxidants, acids and vitamins are extracted from natural sources. Stringent regulations in the EU have restricted growth in the market and increase in threat of diseases from livestock is also one of the major restricting factors.

Segmentation:

The global animal feed phytogenic market is segmented on the basis of its product type, livestock and geography. By type the market can be segmented into amino acids, feed enzymes, vitamins, acidifiers, antibiotics, binders, mineralsand othersamong which amino acidshave shown to improve feed intake, digestion and body weight with an estimation of XX% value share in 2016.Due to its nutritional content it dominates the market share with a value of USD XX million in 2015. Among the livestock segment poultry is the largest livestock consumer which accounts for over XX% of the feed additive market followed by swine and cattle since there is an increase in demand for poultry meat and taste preferences of consumers in developing countries.

Geographically the market is segmented into North America, Europe, Middle East and Africa, Latin America and Asia pacific which is the highest contributor for meat consumption followed by India and China. The growth rate for Asia pacific is likely to improve mainly due to an increase in demand for animal products such as meat and dairy. China is expected to contribute largely towards the animal feed phytogenic market. Countries such as India, Thailand, Vietnam and Indonesia are estimated to be the fastest growing markets during the forecast period. Europe has accounted for a market share of XX% in 2016 and is expected to reach USD value of XX billion by 2021.

Key players:

Some of the key companies in global feed Phytogenics market include A&A Pharmachem Inc., Biomin Holding GmbH, Novozymes, Alltech, Inc.,Cargill, Inc. Others include Nutricare Lifesciences, Silvestris, Nor-Feed Sud and TrueVet.