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(EuropeNewsWire.Net, August 10, 2017 ) The Europe Feed Phytogenics Market was worth $0.14 billion in 2016 and estimated to be growing at a CAGR of 6.29%, to reach $0.19 billion by 2021.
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Progress in the animal feed industry has resulted in the feed phytogenics market growing at a substantial rate.
Phytogenics are a set of natural growth promoters (NGPs) utilized as feed additives, obtained from herbs, spices or other plants. They are generally viewed as favourable substitutes to antibiotic growth promoters (AGPs) in livestock production. Essential oils signify a concentrated form of phytogenics, comprising of mainly the active ingredients of the plants.
The growth of the Europe Feed Phytogenics market is majorly driven by factors such as high demand for nutritious feed and viable animal nutrition products, environmental concerns over animal waste pollution, rising intake of meat, and management of feed operating cost. However, lack of efficiency of these compounds due to their intricate nature combined with the unlikeable taste or odour of particular substances may hinder demand and affect the market price movement. Particular compounds such as essential oils are unstable in nature which can cause quick evaporation and causing disparity in final concentration of feed products.
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The Europe Feed Phytogenics market is segmented based on Ingredients, Animal Type, and Application. The market for Feed Phytogenics, on the basis of Ingredients, is classified into Essential oils, Oleoresins, Herbs and Species, and others. Essential oils lead the Feed Phytogenics market and are also projected to grow at the highest CAGR during the forecast period. This is due to the extensive range of health benefits provided such as gut health support, antibiotic cutback, and healthy ingestion in poultry.
On the basis of Animal Type, the Feed Phytogenics market is segmented into Poultry, Aquaculture, Swine, Ruminant, and others. Under this segment, Poultry leads the market accounting for more than 35% of the market share. However, calf is projected to be the fastest growing segment with a CAGR of 7.8%, as they protect them from scours, diarrhoea and other gastrointestinal discrepancies. On the basis of Application, the Feed Phytogenics market is segmented into Flavouring and Aroma, Organic Trace minerals, Anti-Parasitic, Feed Intake and Digestibility, and others.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Europe is the main market for feed phytogenics in terms of intake. The prospects of the market in Europe are very bright because several governments are gradually turning their attention towards feed cost reduction and enhancement of animal productivity. Spain, U.K and France are the key markets accounting for around 55% of the market share. The feed phytogenic market in Russia is in a growing stage and the intake of feed is projected to grow at a strong rate during the forecast period. Normalization and regulatory initiatives from the EU are also influencing the growth in the eastern and central parts of Europe.
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Herbs and Species
By Animal Type
Flavouring and Aroma
Organic Trace minerals
Feed Intake and Digestibility
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