Feed Phytogenics Market By Type, Function, Livestock, Geography and Forecast 2018 to 2023
Feed Phytogenics Market is projected to grow at a CAGR of 7.15% to reach US$939.130 million by 2023, from US$620.459 million in 2017. Phytogenic feed additives belong to a class of feed additives which include products such as herbs, spices, and essential oils to enhance the level of nutrition present in animal feed. Growing global livestock production is the major driver of global feed phytogenics market. Rising per capita meat consumption is encouraging farmers to increase the production of livestock including poultry and swine which, in turn, is boosting the demand for feed phytogenics market. Growing demand for organic meat and livestock products will further contribute to the growth of feed phytogenics market during the forecast period. Geographically, Europe holds a significant market share on account of ban on use of antibiotics, growing focus on developing alternatives for chemical feed additives, and high demand for safe and hygienic meat in EU countries.
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Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Feed Phytogenics value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Feed Phytogenics market
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Last Update : Oct 22, 2019 12:14 AM
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