Market Scenario:
Phytogenic feed additives are defined as plant-derived products that are utilized in feed in order to help improve poultry performance. Apart from possessing antimicrobial activity, phytogenic feed additives offers improved gut functions, anti-oxidative effects, enhancement of palatability, and promotion of growth in poultry. Phytogenic feed additives consists of herbs and plants derivatives. The rising awareness about health concerns render phytogenic feed additives a practical choice for each and every individual engaged in poultry business. In a variety of ways, phytogenic feed additives prove to be beneficial as compared to antibiotics that are infused in poultry for improvement of their health and productivity of poultry.
Market Outlook:
The global phytogenic feed additives market is expected to garner maximum revenue in the forecast period. Factors such as altering consumers opinion towards the poultry quality products is expected to fuel this market growth. There is an increased awareness among consumers about quality of poultry food products that are beneficial for their health. Therefore, in order to retain their customer base and to make profits, various poultry farms are adopting phytogenic feed additives which possesses the potential for improving poultry health.
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Market Segments:
The global phytogenic feed additives market can be classified based on product, function, livestock and region. On the basis of product, the global market is classified into essential oils, herbs & spices, oleoresins, and others. Depending upon function, it is segmented into palatability enhancers, performance enhancers, and others. As per livestock, the global feed additives market is divided into aquatics, poultry, swine, ruminants, equine, and others.
Key Players:
The major companies that provide feed additives include:
• Delacon Biotechnik GmbH
• A/B Technologies International, Inc.
• British Horse Feeds
• Miavit GmbH
• Tolsa
• S.A
Regional Analysis
Based on regions, the global feed additives market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the feed additives market during the forecast period. The demand for poultry products in this region is rising at an alarming rate. In the Asia-Pacific region, owing to the increase in population the demand for poultry products is risingaccordingly, This has led to an increased rate of adoption of phytogenic feed additives in this region thereby leading to an improvement in quality of poultry benefit as well as business sustainability. In the European region, the phytogenic feed additives market is expected to witness healthy growth as the staple food in this region is mostly meat based. Therefore, the poultry owners in these regions are increasingly adopting phytogenic feed additives for refining poultry quality as well as provide offer better product to customers. The Asia-Pacific region is expected to witness the swiftest growth in the feed additives market.
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