5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
About the Market
Phytogenics are a group of natural growth promoters (NGPs) or non-antibiotic growth promoters used as feed additives, derived from herbs, spices or other plants. They are commonly regarded as favorable alternatives to antibiotic growth promoters (AGPs) in livestock production. They perform antimicrobial activity, anti-oxidative effects, enhance palatability, improve gut function, and promote growth. The demand for meat has amplified due to the incessant rise in population, lifestyle changes, and cultural trends, thereby creating tremendous opportunities and demand for alternative feed additives such as phytogenics. Implementation of new technology, such as encapsulation of active ingredients, is considered to further improve the efficacy of phytogenic feed additives. Focus on enhancing feed utilization and improving digestive health of animals are factors endorsing the market. Essential oils feed market is a major segment with a gradual increase in consumption rate in developed regions. Poultry segment is the largest consumer of feed additives market followed by swine and cattle. The demand for phytogenics for calves is expected to be highest during the forecast period to protect them from scours, diarrhea, and other gastrointestinal imbalances. The developed regions of Europe and North America are forecasted to be the fastest growing market followed by the developing nations. The key companies like Biomin, Delacon Biotechnik, Pancosma SA and Danisco are focusing on agreements and partnerships to balance supply and demand of the market.
About the Geography
Russia is the largest country in terms of area and has a democratic government with a very strong president. Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, has seen diminishing growth rates since then due to exhaustion of Russia’s commodity-based growth model.
Russia is seeking to develop in an adverse political and economic environment. The government is trying to transition from an economy based on oil and raw material extraction to an economy based on technology. To achieve this, continual improvement of the attractiveness of investment in Russia remains one of the government’s key strategies. As a part of this, they have created special economic zones, ‘advanced development’ territories, and developed tax incentive systems.
The Russian economy is going through a difficult period with international sanctions, drop in oil prices and other limitations. The major challenges for doing business include the vastness of the country, which means different levels of economic and social factors, high levels of corruption and extreme climatic conditions. The Russian economy is trying to get rid of inefficiencies at all levels including government spending and there is an enormous push for localization of production to diversify the economy.
Component Name | Unit | From Site |
GDP | USD billion | 1326 |
GDP Annual Growth Rate | % | -0.6 |
GDP Per Capita | USD | 11039 |
Employment Rate | % | 66.6 |
Wages | USD/Month | 545.247 |
Inflation Rate | % | 6.4 |
Consumer Price Index (CPI) | Index Points | 531 |
Interest Rate | % | 10 |
Loans to Private Sector | USD million/billion | 350,554.26 million |
Balance of Trade | USD million/billion | 6490 million |
Business Confidence | (No Units) | -5 |
Manufacturing PMI | Index Points | 51.1 |
Ease of Doing Business | (No Units) | 51 |
Competitiveness Rank | (No Units) | 43 |
Corruption Rank | (No Units) | 119 |
Consumer Confidence | (No Units) | -19 |
Consumer Spending | USD million/billion | 113.711 billion |
Bank Lending Rate (Consumers) | % | 12.53 |
Corporate Tax Rate | % | 20 |
Sales Tax Rate | % | 18 |
The Market Entry Series
Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.
5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
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