Increasing demand for naturally derived product in feed additives to drive feed phytobiotics market expansion
As the global consumption of animal protein records rapid growth, betterment of animal feed has come into focus for animal feed producers. The use of antibiotics has been restricted in many regions over the last two decades due to the fact that excessive use of in-feed antibiotics will intensify the potential risks of increasing resistance in human pathogens. Most developed nations have studies the correlation between the use of antibiotics as growth promoters and bacterial resistance and antibiotic residues in animal products and therefore have laid a blanket ban on antibiotic growth promoters in animal feed. However, use of growth promoters are necessary as the animal products industry strives to cater to the increased demand of meat and fish. Therefore, researchers have recommended the use of phytobiotics which are natural growth promoters as they are obtained from plants. Phytobiotics have displayed antimicrobial, antioxidant, anti-inflammatory and growth promoting qualities. Anti-oxidative function of phytobiotics can positively affect the stability of animal feed and increase animal’s products quality and storage time. Feed phytobiotics market is anticipated to register a CAGR of 9.20% over 2022-2030 and surpass a valuation of USD 60.09 billion by the end of 2030.
Segmentation:
Feed Phytobiotics Market Overview discusses the various dynamics of the market and classifies it on the basis of source, livestock and function.
There are various sources of feed phytobiotics such as plant extracts, essential oils, herbs & spices, oleoresins, and others. Plant extracts feed phytobiotics market share has been the largest in recent times. However, the market share captured by essential oils and spices segments are also catching up as the products are increasingly being used for their anti-inflammatory, antimicrobial and other beneficial qualities in the preparation of livestock feed.
By livestock feed phytobiotics industry is segmented as poultry, swine, ruminants and others. The poultry segment has been capturing an increasing share in the feed phytobiotics market due to the increased consumption of chicken around the world. Feed phytobiotics market share from the ruminant segment is also expected to be considerable over the coming year. The increased consumption of fish for the omega 3 fatty acids will add a significant boost to the use of phytobiotics in aquaculture.
According to function, feed phytobiotics market is segmented into anti-inflammatory, antimicrobial, anti-oxidant, antiviral etc. Antimicrobial and anti-inflammatory functions of feed phytobiotics are the most in demand and as such as expected to register the most growth over the coming years.
Regional Segmentation and Analysis:
Regional segmentation of Feed Phytobiotics Market Size includes Asia-Pacific, North America, Europe and the Rest of the World.
Asia Pacific is expected to hold a dominant share in the feed phytobiotics market owing to an expansive population in the region that has created a vast demand for animal protein. Urban consumption of meat in countries like China, Thailand and Vietnam has registered rapid increase, a trend that necessitate the use of feed phytobiotics to ensure the safety of meat products.
North America feed phytobiotics industry is also expected to witness significant growth as stringent regulations imposed on the use of conventional antibiotics growth promoter in the regions has created a strong demand for alternatives, especially those that are extracted from plants and ecofriendly. Therefore, the feed phytobiotics market is expected to find a potent growth ground in the region.
Europe has similar regulatory landscape when it comes to feed additives and therefore the growth of the feed phytobiotics market in the region will be comparable to that in North America. As for the Rest of the World, feed phytobiotics industry will witness impressive growth especially in South American countries, such as Argentina and Brazil where meat and dairy product consumption is on the rise.
Competitive Landscape:
Alltech, Inc., Archer-Daniels-Midland Company, E.I. du Pont de Nemours and Company, Cargill Inc., Kemin Industries, Inc., Phytobiotics Futterzusatzstoffe GmbH, BIOMIN Holding GmbH, AB Agri Ltd., ForFarmers N.V., AdiFeed, Neovia, Pancosma, Adisseo France SAS (China), Dostofarm GmbH are some of the prominent participants operating in the feed phytobiotics market.
Industry News:
Owing to the increasing profitability of feed phytobiotics market, several established feed manufacturing companies as well as startups have shown rising interest in the market. For instance, in January 2019, French feed phytobiotics company ID4Feed acquired the Valréas eco-extraction platform or PEEV. The acquition is important as ID4Feed would now be equipped to produce plant extracts for animal feed on a semi-industrial scale, a positive indication for the overall feed phytobiotics market. ID4Feed also has presence in Thailand and is developing its network in Vietnam, Indonesia, Philippines and Taiwan.
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