$962 Mn Feed Phytogenics Market - Global Trends & Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 25, 2018--The “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 2023” report has been added to ResearchAndMarkets.com’s offering.
The feed phytogenics market is projected to grow at a CAGR of 8.8%, to reach a value of USD 962.5 Million by 2023 from USD 631.4 Million in 2018.
The market growth is driven by advancements in the feed industry, increased demand for livestock products, the rise in awareness about animal health & feed quality, ban on antibiotics as growth promoters, and health benefits of phytogenics.
On the basis of function, the market was led by the palatability enhancers segment in 2017. Palatability enhancers help increase the feed intake in livestock due to the presence of flavor and aroma. Results are more prominent among young animals, which has increased the demand for these palatability enhancers due to increased growth of the animals resulting in high productivity of the animals.
On the basis of type, the essential oils segment accounted for the largest market share; this can be attributed to the ban on the use of antibiotics as growth promoters in animal feed. Essential oils can also be used in various blends and have strong aromatic and flavoring properties which drives the demand for these oils as feed additives.
On the basis of livestock, the feed phytogenics market was led by the poultry segment in 2017. The high demand for white meat has induced high pressure on the poultry meat market for high production. The ban on antibiotics growth promoters in regions such as Europe and South Korea has also boosted the demand for feed phytogenics in poultry, as they include antimicrobial, antiviral, and/or antioxidant properties.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Feed Phytogenics Market, By Type
7 Feed Phytogenics Market, By Function
8 Feed Phytogenics Market, By Livestock
9 Feed Phytogenics Market, By Region
10 Competitive Landscape
11 Company ProfilesA&A Pharmachem Inc. Biomin Holding GmbH Bluestar Adisseo Company Cargill Delacon Biotechnik GmbH Dostofarm GmbH Dupont Kemin Industries, Inc. Pancosma Phytobiotics Futterzusatzstoffe GmbH Phytosynthese Silvateam S.P.A. Synthite Industries Ltd. For more information about this report visit https://www.researchandmarkets.com/research/6t44ms/962_mn_feed?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180925005982/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Animal Feedstuffs
INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/25/2018 12:45 PM/DISC: 09/25/2018 12:45 PM