Feed Phytogenics Market Worth 769.5 Million USD by 2021
PUNE, India, June 9, 2016 /PRNewswire/ --
The report "Feed Phytogenics Market by Type (Essential Oils, Herbs & Spices, Oleoresins, and Others), Livestock (Swine, Ruminants, Aquatics, Equine, Poultry, and Others), Function, & by Region - Global Trends & Forecast to 2021", The market is projected to reach a value of USD 769.5 Million by 2021, at a CAGR of 7.1% from 2016 to 2021.
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Browse 97 market data Tables with 66 Figures spread through 180 Pages and in-depth TOC on "Feed Phytogenics Market"
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The market is driven by factors such as ban of in-feed antibiotics by EU, increasing importance for animal health, especially from the meat industry, increasing demand for livestock products, and rising awareness about animal health & animal feed quality. The high growth potential in emerging markets and untapped regions provides new growth opportunities for market players.
Essential oils segment is projected to be the fastest growing on the basis of type from 2016 to 2021
The essential oils segment is projected to grow at the highest CAGR from 2016 to 2021. It provides a wide range of health benefits to the livestock such as gut health support, antibiotic reduction, healthy digestion in poultry, and other benefits. Furthermore, the use of essential oils as feed additives is increasing in animal nutrition as it substitutes antibiotic growth promoters, which have been banned as feed additives in the European Union since 2006.
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Poultry livestock segment depicts high potential for the Feed Phytogenics Market
The poultry segment is one of the fastest growing in the livestock industry. The production of poultry is becoming more intensive and vertically integrated due to continuous technological advancements. The global demand for poultry is expected to increase in the future, especially in developing regions such as Asia, prominently in China. There has also been noteworthy growth in South-Eastern Europe, the Caucasus and Turkey, and in EU (Central and Eastern).
Significant growth for feed phytogenics is observed in the Asia-Pacific region
Asia-Pacific has a high growth potential for feed phytogenics. This region has many emerging countries, such as China, Thailand, and Singapore. Moreover, factors such as high demand for nutritive feed and sustainable animal nutrition products, increasing number of livestock, and management of feed operating cost are also driving the growth of the Feed Phytogenics Market.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such Cargill Inc. (U.S.), Phytobiotics Futterzusatzstoffe GmbH (Germany), Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), and E. I. du Pont de Nemours and Company (U.S.)
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