Market Research Report
Feed Phytogenics Market Size By Product, By Livestock, Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2027
|Published by||Global Market Insights Inc.||Product code||979743|
|Published||Content info||320 Pages
Delivery time: 2-3 business days
|Feed Phytogenics Market Size By Product, By Livestock, Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2027|
|Published: December 24, 2020||Content info: 320 Pages||
Feed Phytogenics Market Size By Product (Essential Oils, Herbs & Spices, Oleoresins), By Livestock (Poultry, Swine, Ruminant, Aquatic, Equine), Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2027.
The global feed phytogenics market is estimated to grow at a notable pace over the next few years, primarily driven by the increasing consumption of meat and dairy products worldwide. The need to boost livestock productivity has created a significant demand for natural growth promoters (NGPs) in animal nutrition products. Additionally, the need to boost the immunity of animals and prevent the risk of disease outbreaks.
On the basis of product, the feed phytogenics industry is segmented into herbs & spices, essential oils, oleosins, and others. The other products segment is projected to hit an annual valuation of around US$34.7 million by 2027.
Based on livestock, the market is divided into poultry, swine, aquatic, ruminant, equine, and others. The market share from other animals segment is estimated to record a CAGR of around 2.3% through 2027. The feed phytogenics market size from equine segment is slated to reach US$35.2 million in revenue by 2027, expanding at steady CAGR of 3.1%.
Phytogenic feed additives aid in improving the immune system in horses and other equines to achieve better health. A strengthened immune system provides better resistance against diseases and attacks of external pathogens such as viruses and bacteria that try to invade the body. The weakening of the immune system due to factors such as vaccination, natural exposure, and physical stress can make equines vulnerable to attacks from different microorganisms.
Numerous research studies and trials have been conducted to assess the effectiveness of phytogenic feed additives in improving the health of equines. Animal nutrition products enriched with phytogenics have been associated with faster growth and improved weight in horses. They are also known to provide a better and stronger immunity as they are highly effective in controlling sub clinical infections.
Additionally, they help livestock owners achieve an enhanced feed conversion ratio. One of the biggest advantages of feed phytogenics is that they reduce the need for antibiotics, helping livestock owners save a considerable amount of money.
In terms of the regional outlook, the feed phytogenics industry in Central and South America is poised to be worth more than US$102.99 million by the end of 2027. The region holds a fair share of the global livestock sector, which can be mainly associated with the lower production costs in these countries.
The regional trends will be mainly driven by Brazil which is one of the world's leading manufacturers of animal feed and nutrition products. The local animal feed industry has expanded rapidly in recent years as Brazil is also one of the leading exporters of chicken and beef in the world. Meanwhile, the Middle East and Africa feed phytogenics market size is expected to surpass more than US$22.62 million by 2027, growing at a 2.3% CAGR.