European market for feed digestive ingredients climbing
Revenues of $802 million expected by 2016
Frost & Sullivan has released new numbers that show the European market for digestive ingredients in animal feed is on the rise.
The market earned $455.5 million in revenues in 2009, according to the report, and current growth indicates revenues will reach $802.0 million in 2016. "The future of European digestive ingredients in the animal feed market is bright thanks to the indispensable nature of these products in boosting animal productivity," said Frost Senior Research Analyst Dr. Kaushik Ramakrishnan Shankar. "The importance of reducing costs in animal husbandry systems cannot be underestimated and the clear advantage of using these ingredients should be communicated to end users."
As the market has grown it has become more competitive, said Shankar, with those devoting the most to research and development seeing the largest payoff. Feed enzymes, feed probiotics, feed phytogenics and feed prebiotics were all covered in the study.