Feed Phytobiotics Market is estimated to grow at CAGR of 5.3% from 2018 to 2023 | Asserts MRFR

“The demand for Feed Phytobiotics is High from Poultry and Livestock Holders”
Feed Phytobiotics Market Information: by Source (Plant Extracts, Spices, Herbs and others), Function (Anti-Microbial, Anti-Oxidants, Anti-Inflammatory, Anti-Viral and others), Application (Poultry, Ruminants, Swine and others) and Region – Forecast till 2023

Market Overview:

Feed Phytobiotics Market is projected to grow at a CAGR of 5.3% over the forecast period. Feed phytobiotics are plant products added to livestock feed to improve feed performance. These phytobiotics are derived from roots, spices, tubers, herbs, and other plant sources. They are available in solid, dried, and ground forms. Feed phytobiotics are used to improve the feed quality, animal health and reduce the livestock diseases, which further enhances the quality of products derived from livestock.

Asia Pacific is dominating the feed phytobiotics market and is expected to have a substantial growth over the forecast period 2017-2023. In Asia Pacific, China is the major exporter of poultry and meat products, which has opened the opportunity for the use of feed phytobiotics market in this region. Moreover, increasing population and increasing demand from poultry and livestock industry are boosting the growth of feed phytobiotics in this region.

Furthermore, rising concern regarding livestock health among the consumers is adding fuel to the growth of the feed phytobiotics market. However, the high cost of processing and raw materials may hamper the market in the coming years. Nevertheless, all these factors are expected to lead the growth of the Asia Pacific market at a CAGR of 5.0% during the forecast period 2017-2023.

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Major Key Players:

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major feed phytobiotics players. It further includes product portfolios, developments of leading players, which includes

  • E.I. du Pont de Nemours and Company (U.S.)
  • ForFarmers N.V.(Netherlands)
  • Kemin Industries, Inc.(U.S.)
  • AB Agri Ltd. (U.K.)
  • Archer-Daniels-Midland Company (U.S.)
  • Alltech, Inc.(U.S.)
  • BIOMIN Holding GmbH (Austria)
  • Cargill Inc.(U.S.)
  • Neovia (France) and
  • Phytobiotics Futterzusatzstoffe GmbH (Germany)

Key Findings:

The demand for Feed Phytobiotics is High from Poultry and Livestock Holders.

Feed phytobiotics serves as natural growth promoters (NGPs) and is an effective alternative to the conventional antibiotics

Segments:

Feed phytobiotics market is segmented by source such as plant extracts, spices, herbs, and others. Among all, feed prepared from plant extract is dominating the market followed by spices. Essential oils extracted from the plants are identified to have good anti-microbial properties, which is commonly used in poultry and livestock feed application. Moreover, spices segment is growing rapidly owing to anti-inflammatory properties, which is used in livestock feed.

On the basis of function, the feed phytobiotics are segmented into anti-microbial, anti-oxidants, anti-inflammatory, anti-viral, and others. The use of feed phytobiotics as an anti-microbial agent in feed is dominating this market. However, its application for anti-inflammatory properties is witnessing high growth over the forecast period.

Based on the applications, the feed phytobiotics are segmented into poultry, ruminants, swine, and others.

Among all, poultry is dominating the market based on increased consumption of poultry and meat products globally. However, ruminants segment is projected to witness steady growth over the forecast period owing to growth in the poultry industry.

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Regional Analysis:

Global Feed Phytobiotics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the feed phytobiotics market followed by North America. In Asia Pacific, China is the major contributor of poultry products, which, in turn, boost the market growth in this region. Furthermore, increasing consumption of livestock and rapidly growing population in developing countries of Asia Pacific is pushing the growth of the feed phytobiotics market.

In North America, the U.S. is dominating in the feed phytobiotics market owing to government regulations imposed on the use of antibiotics and allopathic medicines in livestock.

Moreover, rising demand for poultry products in countries like the U.K. and France in the European region is projected to boost the feed phytobiotics market in the forecast period.

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