The global Phytogenic Feed Additives Market size is expected to reach USD 1,371 Million by 2028 at a CAGR of 7.7%, according to a new report by Reports and Data. Phytogenics are basically the natural or non-antibiotic growth promoters derived from plants. They are highly used as feed additives, derived from vegetables fruits, herbs spices, or flowers. Various photogenic feed additives are used in livestock feed including saponins, flavonoids, tannins, essential oils, oleoresins, pungent substances, mucilages, and bitter substances.
In the last years, feed production globally has increased at an exponential rate, primarily driven by the rising production and consumption of livestock. Another crucial factor influencing feed production’s volume is the growing commercialization of livestock practices, especially in developing economies. Livestock growers are gaining awareness about the health issues of animals, owing to low supply of nutrient and reduced metabolism rate, and thus, raising concerns regarding the quality of final animal and dairy products.
The growth of phytogenic feed additives industry is attributed to the changing consumer’s opinion towards the poultry product’s quality. Consumers are gaining awareness about the poultry products’ quality which can be beneficial for their health. Poultry farms, for retaining their large customer base and to make profits, are adopting different phytogenic feed additives, exhibiting the potential to improve the health of poultry. Therefore, this factor is contributing significantly to the sector’s expansion.
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Further key findings in the report
- The poultry sub-segment led the phytogenic feed additives sector in the year 2019. This sub-segment’s superiority is resultant to the increasing demand for AGP replacers, particularly in the nations like China, the U.S., and Brazil. Such rapid growth in the production of poultry meat is predicted to further augment need for excellent quality feed, thereby accelerating the market’s growth.
- The growing feed production is the primary factor fueling the feed phytogenics industry worldwide, due to phytogenic’s several health-induced benefits and antibiotic-free nature in animals.
- APAC accounted for the sizeable market share in 2019, in terms of value. The region’s growth is attributed to the growing need for superior meat quality as well as dairy products from health enthusiasts, and rising popularity for natural pet food ingredients added with proper nutritional value.
- Major participants operating in the industry are Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), DOSTOFARM GmbH (Germany), IGUSOL S.A. (Spain), Pancosma (Switzerland), Phytobiotics Futterzusatzstoffe GmbH (Germany), Phutosynthese (France), NOR-FEED (France), and Silvateam S.p.A. (Italy).
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For the purpose of this report, Reports and Data has segmented the global phytogenic feed additives market on the basis of type, livestock, source, form, and region:
Type Outlook (Revenue, USD Million, 2018 - 2028)
- Essential oils
- Others (mucilage, tannins, bitter substances, and pungent substances)
Livestock Outlook (Revenue, USD Million, 2018 - 2028)
- Aquatic animals
- Others (pets and equine)
Source Outlook (Revenue, USD Million, 2018 - 2028)
- Herbs spices
- Fruits vegetables
Function Outlook (Revenue, USD Million, 2018 - 2028)
- Performance enhancers
- Antimicrobial properties
- Palatability enhancers
- Others (phytogenic feed additives with anti-inflammatory properties and better feed conversion)
Form Outlook (Revenue, USD Million, 2018 - 2028)
Regional Outlook (Revenue, USD Million, 2018 - 2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the world
- South Africa
Key highlights of the Global Phytogenic Feed Additives Market Report:
- Detailed market scope, structure, dynamics, and estimated growth.
- Assessment of prevalent strategies in the market.
- In-depth analysis of recent events and technological advancements.
- Detailed market segmentation analysis.
- Competitive landscape.
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