DUBLIN--(BUSINESS WIRE)--The "Feed Phytogenics Market by Type (Essential Oils, Herbs & Spices, Oleoresins, and Others), Livestock (Swine, Ruminants, Aquatics, Equine, Poultry, and Others), Function, & by Region - Global Trends & Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
The feed phytogenics market is estimated at USD 631.4 million in 2018 and is projected to grow at a CAGR of 8.8%, to reach USD 962.5 million by 2023.
Feed phytogenics play a crucial role as natural growth promoters in livestock. They have evolved as key feed additives; they increase feed intake, improve gut function, prevent diarrhea, and have anti-microbial and anti-oxidative effects on livestock. The major drivers of this industry are increasing animal husbandry, implementation of new technology such as encapsulation in feed phytogenics, and increasing focus on untapped markets such as Brazil, Thailand, Vietnam, China, and India. However, the high cost of these natural feed additives and complex composition of phytogenic feed additives are some of the factors restraining the growth of the feed phytogenics market.
On the basis of function, the palatability enhancers segment is projected to grow at the highest CAGR from 2018 to 2023. The use of phytogenics as palatability enhancers is gaining popularity with the increasing need to increase the productivity of animals due to the increasing demand for animal-based products. These products increase the feed intake in the animals, especially in the younger animals, thereby promoting the growth of the animals.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Feed Phytogenics Market, By Type
7 Feed Phytogenics Market, By Function
8 Feed Phytogenics Market, By Livestock
9 Feed Phytogenics Market, By Region
10 Competitive Landscape
11 Company Profiles
- A&A Pharmachem Inc.
- Biomin Holding GmbH
- Bluestar Adisseo Company
- Delacon Biotechnik GmbH
- Dostofarm GmbH
- Kemin Industries, Inc.
- Phytobiotics Futterzusatzstoffe GmbH
- Silvateam S.P.A.
- Synthite Industries Ltd.
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