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Feed Phytogenics Market Growth Trends, Business Growth Drivers, Industry Analysis by 2024

Author : Rahul Sankrityayan | Published Date : 2019-09-05 

Global Market Insights, Inc. provides a detailed overview of Feed Phytogenics Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Increasing per-capita meat consumption coupled with rising middle-class disposable income, particularly in China, India, South Korea, and Brazil, is likely to drive demand for livestock production thereby boosting feed phytogenics market. These countries have witnessed a rise in per capita income and an improving lifestyle which has led to high demand for superior quality meat. Increasing per capita income of India and China coupled with the improving lifestyle has led to high demand for superior quality meat.

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Increasing awareness of adverse health effects of antibiotics residue in animals has led to the ban of antibiotic growth promoters (AGP) in several countries such as the U.S., Germany and France. These antibiotics may result in the development of drug-resistant microbial strains which may cause diseases such as aplastic anemia and typhoid in humans. The ban has resulted in increased need for alternate feed additive to help maintain the health of livestock animals which is likely to stimulate feed phytogenics market growth.

Essential oils feed phytogenics market surpassed USD 300 million in 2017 on account of its ability to reduce rumen ammonia production and increase protein. These products can limit the growth of pathogenic bacteria in the gut leading to better absorption of nutrients. Moreover, they contain various active components such as thymol, eugenol and allicin which are active participants in enhancing the performance of animals by boosting immunity and may boost feed phytogenics market growth.

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UK feed phytogenics market from poultry applications may surpass USD 10 million by 2024. The country is witnessing an increase in organic and safe poultry meat demand which is likely to push feed industry to look for viable alternatives to antibiotic products. These products regulate gut microflora thereby improving nutrient digestibility and limit pathogen growth which may stimulate market growth.

North America feed phytogenics market led by the U.S., Canada and Mexico may witness gains exceeding 3% in the forecasted timeframe. Motivated by personal health, animal welfare, taste, quality and environmental concerns, the consumers are seeking alternatives to conventional meat products. U.S. farmers are shifting towards safe and natural additives in feed to increase meat suitability for export to Mexico, Russia, China, Japan, Canada, South Korea and Middle East which are experiencing rising demand for natural feed additives and organic meat, thus accelerating feed phytogenics market growth.

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Global feed phytogenics market share is substantially competitive and fragmented among several manufacturers such as DuPont Danisco, Doterra, Synthite Industries Ltd., The Himalaya Drug Company, Biomin Holding GmbH and Dodson and Horell. Several industry participants are engaging in strategic acquisitions to enable market expansion and achieve competitive advantage.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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