Global Phytobiotics Market Analysis and Value Forecast Snapshot by End-use Industry 2019-2025
Infinium Global Research has added a new report on Global Phytobiotics Market. The report covers the analysis of global as well as regional markets of phytobiotics. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report, the global phytobiotics market is projected to grow at a CAGR of 6.5% over the forecast period of 2019-2025.
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Walnut Oil Market: Drivers, Restraints and Opportunities
Phytobiotics market is estimated to grow with significant rate in the forecast period. Increasing demand for healthy food for animal health is one of the major factor contributing to the growth of the market. Growing animal husbandry sector to fulfil the demand of meat, fiber, milk, eggs and other products all over the globe is contributing to the growth of the market. Furthermore, beneficial properties of phytobiotics such as anti-inflammatory, anti-microbial, antioxidant, and antiviral properties are aiding to the growth of the market. On the other hand, lack of knowledge about the phytobiotics in the low income countries and developing countries can hamper the growth of the market. However, many growth promoters and antibiotics are getting replaced with phytobiotics that can provide the better opportunity to the market in the near future.
Phytobiotics Market: Segmentation
The phytobiotics market is segmented based on source, function and application. Based on the source the market can be segmented into plant extract, spices, herbs, and others. Among all, the plant extract dominate the segment. On the basis of function source the market can be segmented into anti-microbial, anti-oxidants, anti-inflammatory, anti-viral, and others. Furthermore, On the basis of application the market can be bifurcated into poultry, ruminants, swine, and others.
Phytobiotics Market: Regional Insights
Geographically, the phytobiotics market is segmented in to North America, Europe, Asia Pacific, and rest of the world. Asia Pacific dominates the market followed by North America. Growing population and rising demand of poultry food and meat products in developing regions are contributing to the growth of the market. Market in the U.S. dominates the North American feed phytobiotics market. Stringent regulation for the food safety deplete the use of antibiotics and allopathic medicines in livestock that in turn is boosting the growth of phytobiotics market in this region.
Phytobiotics Market: Competitive Landscape
Key players in the market are Alltech, Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Cargill Inc. (U.S.), Kemin Industries, Inc. (U.S.), BIOMIN Holding GmbH (Austria), AB Agri Ltd. (U.K.), Neovia (France), ForFarmers N.V.(Netherlands), Phytobiotics Futterzusatzstoffe GmbH (Germany) and others.
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