Selbyville, Delaware, July 15, 2021 (GLOBE NEWSWIRE) -- The feed phytogenics market value is projected to cross USD 865 million by 2027, according to a new research report by Global Market Insights Inc. An increase in per-capita meat consumption coupled with a rise in livestock production is likely to drive the feed phytogenics industry statistics.
Asia Pacific held the largest market share and is anticipated to register the highest CAGR of over 4% during the forecast period owing to the growing consumption of poultry in the region, especially in China.
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Some major findings of the feed phytogenics market report include:
- Essential oils will witness over 3.5% CAGR during the forecast timeframe owing to the rising trend of natural ingredients in the global animal feed industry.
- Poultry livestock is anticipated to showcase over 35% share in the global market, which is attributed to the increasing production of poultry, especially in Brazil, South Africa, and Mexico.
- Ruminant livestock segment will showcase a significant CAGR of over 3.9% over the forecast period as there is a high demand for phytogenics in ruminant feed.
- Key players in the market are focusing on strategic initiatives, such as partnership, acquisitions, and new product launches, to cater to the rising demand for animal feed.
Browse key industry insights spread across 300 pages with 222 market data tables and 53 figures & charts from the report, “Feed Phytogenics Market Forecasts By Product (Essential Oils, Herbs & Spices, Oleoresins), Livestock (Poultry, Swine, Ruminant, Aquatic, Equine), Industry Analysis Report, Regional, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/feed-phytogenics-market
Feed phytogenics market from herbs & spices will surpass USD 235 million by 2027 growing at a CAGR of over 3.5%. Phytogenic substances from certain spices, herbs, and extracts shows pharmacologic actions in the digestive tract of animals, as shown by their spasmolytic and relaxant drugs. Moreover, the rising farmers awareness towards natural and healthy animal feed, to increase the production quality of farm animals will support product demand over the forecast period.
North America feed phytogenics market exceeded USD 103.5 million in 2020 and is anticipated to register a healthy CAGR of over 3.5% through 2027. The growing awareness of the demerits & side effects of synthetic additives and the ban on antibiotics, following the European strategy have resulted in the increased use of phytogenic additives as a substitute for antibiotics. The use of antibiotics has been sharply curtailed in the U.S.; however, the rules do not ban the occasional/prescribed use of antibiotics. Moreover, the U.S. is a major exporter of meat to countries such as Mexico, Russia, China, Japan, Canada, South Korea, and the Middle East. The high production of meat in the U.S is boosting the demand for feed phytogenics in the region.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/feed-phytogenics-market
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https://www.gminsights.com/industry-analysis/feed-phosphate-market
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.