New Market Research Report: Feed Phytogenics Market - Global Trends & Forecast to 2021

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

The feed phytogenics market is projected to reach a value of USD 769.5 million by 2021 and is projected to grow at a CAGR of 7.1% from 2016 to 2021. The market drivers include ban of feed antibiotics by Europe, advancement in animal feed, and increasing awareness about animal health and feed quality.

"Essential oils is projected to be the largest and fastest-growing segment, by type, from 2016 to 2021"

The use of essential oils as feed phytogenics in animal feed is increasing as it substitutes antibiotic growth promoters, which are banned as feed additives in the Europe since 2006. The last two decades have seen a significant increase in the use of essential oils as feed additives in animal nutrition due to its benefits like gut health support, antibiotic reduction, healthy digestion in poultry, and other benefits.

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"Palatability enhancers, by function, is projected to be the fastest-growing and largest segment from 2016 to 2021"

Feed palatability enhancers are gaining a substantial position in feed phytogenics as they are highly influential in the increase of feed intake in animals. Palatability enhancers help in improving feed palatability and enhances the feed intake, thus improving weight gain and growth of animals. The impact of the palatability depends on the applied dosage of the particular ingredients. However, the results are more prominent for the young animals.

"Europe is projected to be the fastest-growing segment from 2016 to 2021"

The demand for feed phytogenics is driven by the intense practice of selective breeding in Europe. Increased awareness among consumers about meat quality and increased meat consumption in the region, high demand for nutritive feed and sustainable animal nutrition products, increasing number of livestock, and management of feed operating cost are also driving the European feed phytogenics market.

The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:

By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%

By Designation: Director Level - 22%, and C Level -28%, Other Levels - 50%

By Region: North America - 18%, Europe - 25%, and Asia-Pacific - 45%, Latin America - 12%

Major players include:

* Cargill, Incorporated (U.S.)
* Phytobiotics Futterzusatzstoffe GmbH (Germany)
* Delacon Biotechnik GmbH (Austria)
* BIOMIN Holding GmbH (Austria)
* E. I. du Pont de Nemours and Company (U.S.)

The other players that also have a strong presence in this market include:

* Kemin Industries, Inc. (U.S.)
* PANCOSMA SA (Switzerland)

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