Phytogenics are basically a group of non-antibiotic or natural growth promoters which are used as feed additive. The feed additive effects the health of the livestock in a positive manner but is usually difficult in processing. The concentrated form of phytogenic is represented by essential oils which mainly contains the active ingredients of plants.
MARKET SCOPE
The "Global Feed Phytogenic Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the feed phytogenic market with detailed market segmentation by type, function, livestock, and geography. The report provides key statistics on the market status of the leading feed phytogenic market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global feed phytogenic market is segmented into herbs and spices, essential oils, oleoresins, and others.
- Based on livestock, the market is segmented into ruminant, poultry, swine and aquaculture, and others.
- Based on function, the market is segmented into performance enhancers, and palatability enhancers.
MARKET DYNAMICS
Drivers
- The growing restriction over the use of antibiotic as a growth promoter is boosting the market for feed phytogenic.
- The introduction of new technologies such as encapsulation has led to a longer shelf life of phytogenics. Encapsulation is a modern technology extending the shelf life of essential oils by protecting them from environmental changes by keeping the liquid, gaseous, or solid substance packed within a tiny millimetric capsule.
- The rising concern regarding animal health as well as increase in the production of animal feed has led to a growth in the feed phytogenics market.
Restraints
- The high cost of active ingredients used in the feed phytogenics are restricting the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The feed phytogenic market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the feed phytogenic market in these regions.
IMPACT OF COVID-19 ON FEED PHYTOGENIC MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries such as the food and beverages industry in various countries due to lockdowns, travel bans, and business shutdowns. The shortage in labor, international trade restrictions along with the reduced consumption of livestock products during the pandemic are factors that had a short-term impact on the production and supply of phytogenic feed additives. According to Animal HealthCare Centre, USDA report, the companies are focused to increase their production capacity post-COVID-19 lockdown in order to meet supply gaps which were created in the domestic and international markets due to supply chain hindrances. Initially the pandemic had a negative impact on the feed phytogenic market, but the companies are now recovering, as well as the upliftment of lockdown in various countries will be favorable for the feed phytogenic market.
MARKET PLAYERS
The report covers key developments in the feed phytogenic market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from feed phytogenic market are anticipated to lucrative growth opportunities in the future with the rising demand for feed phytogenic in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the feed phytogenic market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Adisseo
- Cargill, Incorporated
- Centurion
- Delacon Biotechnik GmbH
- DOSTOFARM GmbH
- DowDupont
- ERBER Group
- Growell India
- Kemin Industries, Inc.
- Natural Remedies
- NOBLE LIFESCIENCE
- NOR-FEED
- Nutrex
- Nutricare
- Phytobiotics Futterzusatzstoffe GmbH
- Phytosynthese
- Silvateam S.P.A.
- The Himalaya Drug Company
- Vetsfarma Ltd.
- Vinayak Ingredients India Pvt Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.