Future Market Insights
Phytogenic feed additives are plant-derived products used in feed to potentially improve poultry performance. Aside from possessing antimicrobial activity, phytogenic feed additives provides potentially anti-oxidative effects, enhance palatability, improve gut functions, and promote growth in poultry. Phytogenic feed additives comprises of herbs and plants derivatives. The rising health concerns make phytogenic feed additives a practical choice for each and every individual involve in poultry business. In many ways, phytogenic feed additives can be much more beneficial compared to antibiotics which are infused in poultry for improving health and productivity of poultry. With rise in demand of poultry products from consumers and more emphasize on improving poultry health will catapult the market of phytogenic feed additives.
Phytogenic feed additives feed additives Market: Drivers & Restraints
The major factors driving the growth of phytogenic feed additives market is changing opinion of consumers towards the quality of poultry products. Consumers are now much aware what quality of poultry food products can be beneficial for their health. Poultry farms in order to retain their customer base and to make profits instead of losses are switching now to phytogenic feed additives which do possesses the potential for improving poultry health and thus a quality product towards consumer’s end.
Less profit margin, resistance towards change for profits, lack of awareness about product benefit can be few of the restraints which can hold back the growth of phytogenic feed additives market.
Phytogenic feed additives feed additives Market: Market Segmentation
The phytogenic feed additives feed additivesmarket is segmented into four parts based on the end-use type, packaging type, distribution channels, and geography.
Based on the end-use type the phytogenic feed additives feed additives market is segmented into:
Based on the packaging type the phytogenic feed additives feed additives market is segmented into:
Based on the type of distribution channels phytogenic feed additives feed additives market is segmented into:
Phytogenic feed additives feed additives Market: Regional Outlook
Regarding geography, phytogenic feed additives feed additives market has been categorized into five key regions including North America, Western Europe, Eastern Europe, APEJ, Latin America, Middle East & Africa and Japan. Phytogenic feed additives feed additives market is expected to register healthy CAGR during the forecast period. North America is experiencing the most rapid increase in the production capacity of phytogenic feed additives feed additives market as a demand for poultry products in the region is rising at faster pace. In APEJ with rise in population the demand for poultry products are escalating correspondingly such circumstance has triggered the adoption of phytogenic feed additives in this region for improving quality of poultry benefit and business sustainability. The phytogenic feed additives market is projected to register healthy growth both in Western Europe and Eastern Europe as these regions staple diet is mostly meat based. And poultry owners across these regions are adopting phytogenic feed additives for improving poultry quality and to offer better product to customers. Phytogenic feed additives market in MEA and Latin America is also expected to witness steady growth during the forecast period primarily attributed to the growth of poultry industries in these geographical regions.
Phytogenic feed additives feed additives Market: Key Players
Some of the key players identified in the phytogenic feed additives feed additives market are:-
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