Global feed phytobiotics market is witnessing a constant rise in revenues. The market growth attributes to the rising demand and consumption of animal protein-based products. Besides, the growing demand to improve animal health by improving feed performance drives the market growth. Also, the rapidly growing dairy products industry impacts the growth of the market positively. Moreover, the commercialization of feed additive products accelerates the market growth. 

According to Market Research Future (MRFR), the global Feed Phytobiotics Market is projected to reach USD 1.08 BN by 2024, posting 8.4% CAGR during the assessment period (2019-2024). Augmenting demand and consumption of milk & meat products noticed among the ever-increasing global population pushes the market growth further. The quality of animal products, including eggs, meat, milk, leather, fur, and wool, majorly depends on the feed quality & nutrition offered to the animals.

This resultantly increases the consumption of feed phytobiotics. Furthermore, the rising demand to increase industrial livestock production encourages operators to supply high-quality and nutritive feed to their animals. This acts as a key driving force for the market, creating the demand for high-quality animal feeds. Moreover, the rising trend of pet adoption and providing them the best possible nutrition and care propel the market growth, driving the feed industry.

Sale of Feed Phytobiotics is rising continually, which in turn, allows the market to garner constant traction across the globe. Additional factors such as the growing awareness among animal operators about the importance of nutrition levels in feed and advances in the feed phytobiotics manufacturing techniques boost the market growth. Simultaneously, increasing product launches of innovative feed additives, alongside the increasing strategic alliances between additive manufacturers and feed industry players bolster the growth of the market. 

Feed Phytobiotics Market Segments:

The report is segmented into four dynamics.

By Source: Herbs & Spices, Essential Oils, Oleoresins, and others.

By Livestock: Ruminants, Poultry, Swine, and others.

By Function: Performance, Palatability, and others.

By Regions: Europe, Americas, Asia Pacific, and Rest-of-the-World.

Feed Phytobiotics Market Competitive Analysis:

Highly competitive, the feed phytobiotics market appears fragmented, with many well-established players forming a competitive landscape. To gain a larger competitive share in the market, mergers & acquisitions, collaborations, expansions, and product/technology launch remain key strategies for these players. They invest substantially to drive these strategic initiatives and R&D to develop a new product/technology. Manufacturers significantly invest in cutting-edge R&D that can support the innovation pipeline. These players compete based on pricing, quality, reputation, and services. 

Feed Phytobiotics Market - Top Key Players: 

Players leading the feed phytobiotics market include Archer-Daniels-Midland Company (US), Alltech, Inc. (US), EI du Pont de Nemours and Company (US), Kemin Industries, Inc. (US), Cargill Inc. (US), Phytobiotics Futterzusatzstoffe GmbH (Germany), AB Agri Ltd. (UK), BIOMIN Holding GmbH (Austria), ForFarmers N.V. (Netherlands), Neovia (France), AdiFeed S.p. z o.o (Poland), Pancosma (Switzerland), Dostofarm GmbH (Germany), and Adisseo France SAS (China), among others. 

Feed Phytobiotics Market Regional Analysis:

Asia Pacific dominates the global feed phytobiotics market. The largest market share attributes to the increase in livestock production in various countries such as India, Indonesia, Thailand, Vietnam, and Sri Lanka, due to the spurting growth in the livestock feed industry in the region. India accounts for the world's largest producers and consumers of milk & other livestock product. Resultantly India holds a major contributor to regional market growth.

Moreover, the rising demand for animal protein and meat products in the region is a key growth driver for the market. The APAC feed phytobiotics market is expected to retain its leading position throughout the forecast period due to large scale poultry farming in China.

North America is another lucrative market for feed phytobiotics globally. The market is predominantly driven by the stringent rules and regulations imposed on the use of conventional antibiotics growth promoters in many countries. Moreover, the rising demand for animal protein products in the region drives the market growth.

Also, the increasing consumption of poultry products is expected to drive the growth of the feed phytobiotics market in this region. Additionally, the presence of several large feed phytobiotics manufacturing companies in the region foster market growth. The North American feed phytobiotics market is projected to gain a significant market share during the review period.

The feed phytobiotics market in the European region is growing rapidly. Factors such as the increasing demand for feed phytobiotics and the increased consumption of meat and dairy products across the region push the growth of the market. Besides, the vast uses of feed phytobiotics in the dairy cattle feed production to supply the growing milk & meat products industry in the EU, and the Eastern European region fosters the market growth.

Besides, advances in the development of feed phytobiotics and farming practices for swine & poultry animals act as a key tailwind for the regional market. The European feed phytobiotics market is to witness scaled up production during the forecast period.

Read More about the Report: https://www.marketresearchfuture.com/reports/feed-phytobiotics-market-4717

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