Global Feed Phytogenics Market size is expected to reach USD 744 million by 2022, owing to rise in meat consumption across the globe, along with growing dependence on natural growth promoters for livestock.
Reduced usage of antibiotics in animal feed additives along with the growing use of natural additives in U.S and EU, owing to strict government norms, is predicted to contribute significantly towards feed phytogenics market growth over the coming years. Furthermore, high demand for phytogenic feed additives such as oleoresins, essential oils, and herbs & species in animal diets, owing to its antiviral, antioxidative, and antimicrobial characteristics, is predicted to boost the global feed phytogenics industry over the next few years.
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Based on the livestock, feed phytogenics market is segmented into equine, poultry, ruminant, aquatic, and swine. Feed phytogenics market revenue in poultry valued at USD 180 million in 2014, is expected to grow considerably over 2015-2022 as it helps in improving the yolk color of hen’s eggs. Swine segment of feed phytogenics industry is predicted to witness a moderate growth over the coming years. It helps in increasing milk production and plays a vital role in weaning piglets. Ruminant feed phytogenics market is projected to grow at a rate of 3.1% over the period of 2015-2022.
Major feed phytogenic products comprise oleoresins, essential oils, and herbs & species. Essential oil feed phytogenics market revenue worth USD 225 million in 2014, is anticipated to witness a high surge over the coming six years due to its major use in improving animal performance.
Asia Pacific feed phytogenics industry worth USD 155 million in 2014, is expected to grow considerably over the next few years. The growth can be credited to rise in production of livestock as a result of high meat consumption along with increase in per-capita expenditure. India and China are the major regional revenue contributors.
Europe feed phytogenics market is projected to witness a moderate growth over the coming six years. Banning the use of antibiotics in animal feed additives due to growing health concerns along with high demand for processed meat will boost the regional growth. North America feed phytogenics market is expected to witness a noticeable growth over the next few years, owing to rise in poultry farming activities. U.S. is expected to be a major regional revenue pocket.
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Market players will try to enhance their ROI through key business strategies such as product development and high R& D investments. Key feed phytogenics industry participants include Bioamin, Delacon, Pancosma SA, Nutricare Lifesciences Limited, NOR-FEED, Silvestris, and Truevet.
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