Market Trends of North America Feed Phytogenics Industry
This section covers the major market trends shaping the North America Feed Phytogenics Market according to our research experts:
Increase in Industrialized Livestock Production
The livestock sector saw significant changes with an increased demand for meat products in the market. Livestock farmers are concerned with disease outbreaks like swine flu, bird flu and other mouth and foot infections. These disease outbreaks tend to reduce the quality and safety of meat consumed. Adding phytogenics to the feed help in improving the immunity of farm animals. The United States is the major exporter of meat to Mexico, Canada, South Korea, and Middle East countries according to the International Trade Centre in the year 2019. To maintain the quality of meat and the demand for meat in the country, addition of phytogenics is necessary. The market is driven by the growth potential of Canadian and Mexican regions. Increasing population and increasing disposable income among consumers is responsible for the greater demand for additives in Mexican market. Growing protein intake among health-conscious consumers has resulted in increased meat intake among consumers. Increasing investment by government towards agriculture to combat the growing demand for food is likely to boost the market.
Increased Organic Consumption
Antibiotics are used as growth promoters among livestock. These antibiotics are harmful for humans and environment. Phytogenics act as an alternative to antibiotics. The increasing demand for organic food products including meat among the population in North America is driving the phytogenics market. The enhanced living standards and awareness about health benefits from organic food products have fuelled the market. According to Organic Industry Survey by Organic Trade Association, United States organic market recorded a sale of USD 52.5 billion in 2018. Of this, organic food sales reached USD 47.9 billion in 2018. The change in consumer preferences, especially millennials, have expanded the organic market in United States. They tend to seek products with integrity. People have turned to organic diary and egg products as a trusted clean product free of antibiotics, synthetic hormones and chemical. As per Organic Trade Association, organic egg sales in United States grew by 9.3% in 2018. Hence the increased organic consumption in the region is anticipated to drive the feed phytogenics market during the forecast period.
