The global phytogenic feed additives market accounted for a value of 735 million in 2019. This market is projected to register growth at a CAGR of 7.1% during the forecast period.
COVID-19 has impacted the global business for phytogenic feed additives. However the impact is not considered to be significant. Although the operations and supply chain was slightly affected due to this global pandemic. But the market will recover and register growth during the forecast period.
For more details, visit: Global Phytogenic Feed Additives Market By Source (Fruits & Vegetables, Herbs & Spices, Others), By Form (Dry, Liquid), By Livestock (Aquatic Animals, Ruminants, Others), By Region–Forecast & Opportunities to 2026
The phytogenic feed additives are difficult to process in the feed but they have positive effects on the health of livestock. The advancement and emergence of new technologies like encapsulation which helps in extending the shelf life of phytogenics. This is likely to raise the popularity of phytogenic feed additives and ultimately driving growth in this market during forecast period.
On the basis of source, the phytogenic feed additives market is segmented into flower, fruits & vegetables and herbs & spices. The herbs and species segment is estimated to be the fastest growing market during the forecast period. The herbs and species are used to derive pungent and essential oils besides this they processes medical properties and flavors which can be used in feed industry. There are no negative effects of this herbs and species on animals and they also help in improving palatability of the feed. They act as antioxidants, immunostimulants and antimicrobials and they are known for promoting livestock’s healthy digestion. Thus, it is likely to witness growth during forecast period.
Based on the form, the phytogenic feed additives market is segmented into dry and liquid form. The liquid form of phytogenic feed additives is estimated to register growth at highest CAGR during the forecast period. The liquid form of phytogenic feed additives is highly consumed and demanded. The essential oils are the types of phytogenic products widely used for all types of livestock and these oils are oily liquids that are derived from plant materials such as roots, flowers, fruits and leaves. It helps in mixing of ingredients which results in uniformity of final product. The rising demand and consumption of liquid form of phytogenic feed additives for livestock diets is estimated to drive growth in this industry.
On the basis of livestock, the phytogenic feed additives market is segmented into swine, aquatic animals, poultry, ruminants and others. The poultry segment is estimated to register growth at highest CAGR followed by swine segment during the forecast period. The concerns over using poultry and swine meats are increasing, the use of phytogenic feed additives is also growing for ensuring safety and quality. The rising awareness about use of animal meat is increasing which has made manufacturers adopt for various organic and natural alternatives such as phytogenic feed additives. Consumers are adopting phytogenic feed additives as they are natural additives this is driving growth in this market during forecast period.
Europe region is estimated to be the fastest growing region in phytogenic feed additives market. European government has banned the use of antibiotics as growth promoter due to which the natural and organic additives alternatives are rising in feed industry. There are stringent rule and regulation applied in this region for the use of synthetic feed additives due to which manufacturers are adopting phytogenic feed additives which is driving growth in Europe region during the forecast period.
The key market players in phytogenic feed additives market are Cargill Inc, Delacon Biotechnik GmbH, Bluestar Adisseo Co., Dupont, BIOMIN Holding GmbH, Natural Remedies, Synthite Industries, Natural Remedies, Pancosma, Dostofarm GmbH, Synthite Industry, Silvateam, Natural Remedies, Nutrex BE, Ayurvet Ltd., and Nor-feed.
- What are the expected industry trends over the next three to five years?
- Which of the phytogenic feed additives source is likely to lead by 2025?
- Which of the form segments is expected to have the maximum potential to during the forecast period?
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