Feed Phytogenics Market Value Worth $865 Million by 2027, Says Global Market Insights, Inc.
The feed phytogenics industry is projected to register over a 3.6% CAGR through 2027, supported by increasing regulations imposing a ban on the use of antibiotics in animal feed application across the globe.
SELBYVILLE, Del., January 14, 2021 (Newswire.com) - The world feed phytogenics market revenue is projected to cross USD 865 million by 2027, according to a new research report by Global Market Insights, Inc. Increasing regulations imposing restrictions on the use of antibiotics in animal feed, coupled with increasing instances of diarrhea in animals, is expected to raise the demand for natural and sustainable feed supplements such as feed phytogenics in the coming years.
Pharmacologic actions of feed phytogenic obtained from herbs and spices within the digestive tract, owing to their relaxant and spasmolytic effects, are likely to limit their application in animal feed. The risk posed to the livestock due to the potential overdose of feed phytogenic obtained from herbs and spices may further reduce its acceptability among livestock owners in the coming years.
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Some major findings of the feed phytogenics market report includes:
- Increased feed palatability, digestive stimulation, increased growth performance, improved reproduction rate and improved feed efficiency of feed phytogenics may boost market demand in the coming years.
- The ability of new innovative technologies such as encapsulation to enhance the shelf life of essential oils coupled with ability of essential oils to enhance feed palatability, stability in ration, improve digestion and enhance animal performance should raise the demand for essential oil feed phytogenics.
- The essential oil feed phytogenics segment is expected to register more than 3.7% CAGR throughout the review period.
- Some of the key players in the feed phytogenics market include DuPont, Phytosynthese, Igusol, Phytobiotics, Nor-Feed, Ayurvet Limited, Delacon Biotechnik GmbH, Indian Herbs Specialties, Akay Group and Biomin GmbH.
- Benefits such as dietary supplementation, improved digestion and immune response and improved gut health may raise the demand for oleoresin feed phytogenics.
- Oleoresin feed phytogenics segment is expected to reach over USD 160 million by 2027.
- Manufacturers are heavily investing in R&D to develop highly efficient products with improved digestibility.
- Ability of feed phytogenics to reduce the production and emission of methane in ruminants may help in reducing greenhouse emissions and thus scale up market share.
- Feed phytogenics market from ruminant livestock is expected to reach over USD 175 Million by 2027.
Browse key industry insights spread across 320 pages with 220 market data tables and 50 figures & charts from the report, "Feed Phytogenics Market Statistics By Product (Essential Oils, Herbs & Spices, Oleoresins), Livestock (Poultry, Swine, Ruminant, Aquatic, Equine) Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2027" in detail along with the table of contents:
Increasing global seafood consumption and growing consumer awareness on quality of seafood products are likely to raise the demand for feed phytogenics in aquatic species. Phytogenics compounds in aquatic applications help in reducing feed costs, animal health concerns and food safety in context of high prices of ingredients such as fish meal and increasing reliance on cheaper raw materials, which may raise its demand in aquatic species.
Europe's feed phytogenics market is expected to witness remarkable growth during the assessment period owing to the strict ban imposed on the use of antibiotics in animal feed applications in the region. Moreover, increasing consumption of pork meat and the growing number of pig farms in the region may support the market demand in the region. Rising consumer awareness regarding the consumption of protein rich food may further stimulate the market statistics.
Read the latest blog on "Recent innovations in essential oil propel feed phytogenics consumption"
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.