Feed Phytogenics market is projected to grow at a CAGR of 7.15% to reach US$939.130 million by 2023, from US$620.459 million in 2017. Phytogenic feed additives belong to a class of feed additives that include products such as herbs, spices, and essential oils to enhance the level of nutrition present in animal feed. Growing global livestock production is the major driver of the global feed phytogenics market. Rising per capita meat consumption is encouraging farmers to increase the production of livestock including poultry and swine which, in turn, is boosting the demand for feed phytogenics market. Growing demand for organic meat and livestock products will further contribute to the growth of the feed phytogenics market during the forecast period. Geographically, Europe holds a significant market share on account of the ban on the use of antibiotics, a growing focus on developing alternatives for chemical feed additives, and high demand for safe and hygienic meat in EU countries.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Feed Phytogenics value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the Feed Phytogenics market.
Major industry players profiled as part of the report are BIOMIN Holding GmbH, Delacon, Cargill, Dostofarm, and Kemin Industries among others.
|Market size value in 2017||US$620.459 million|
|Market size value in 2023||US$939.130 million|
|Growth Rate||CAGR of 7.15% from 2017 to 2023|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Function, Livestock, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BIOMIN Holding GmbH, Delacon, Cargill, Dostofarm, Kemin Industries, PHYTOBIOTICS, Nutricare Life Sciences Ltd, Pancosma, EW Nutrition, Nor-Feed|
|Customization scope||Free report customization with purchase|
Feed Phytogenics market has been analyzed through the following segments:
Herbs and Spices
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What is the size of global feed phytogenics market?
A1. Feed Phytogenics market was valued at US$620.459 million in 2017.
Q2. What are the growth prospects for feed phytogenics market?
A2. The global feed phytogenics market is projected to grow at a CAGR of 7.15% during the forecast period.
Q3. What will be the feed phytogenics market size by 2023?
A3. The feed phytogenics market is projected to reach a total market size of US$939.130 million by 2023.
Q4. What factors are anticipated to drive the feed phytogenics market growth?
A4. Growing global livestock production is the major driver of global feed phytogenics market.
Q5. Which region holds the largest market share in the feed phytogenics market?
A5. Geographically, Europe holds a significant market share on account of the ban on the use of antibiotics, a growing focus on developing alternatives for chemical feed additives, and high demand for safe and hygienic meat in EU countries.
BIOMIN Holding GmbH
Nutricare Life Sciences Ltd
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