Global Feed Phytogenics Market to Reach $1.1 Billion by 2026
SAN FRANCISCO, July 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Feed Phytogenics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: June 2021
Executive Pool: 647
Companies: 40 - Players covered include Adisseo France S.A.S; Biomin GmbH; Cargill, Incorporated; Delacon Biotechnik GmbH; Dostofarm GmbH; DuPont de Nemours, Inc.; Kemin Industries, Inc.; Natural Remedies Pvt. Ltd.; Nor-Feed A/S; Pancosma SA; Phytobiotics Futterzusatzstoffe GmbH; Phytosynthese SASU and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Essential Oils, Flavonoids, Saponins, Oleoresins, Other Product Types); Source (Herbs & Spices, Flowers, Fruits & Vegetables); Animal Type (Poultry, Swine, Ruminants, Other Animal Types)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Feed Phytogenics Market to Reach $1.1 Billion by 2026
An ever growing feed production drives the global industry for feed phytogenics, because it is not only antibiotic-free but also comes with multiple other health benefits. Globally, there is increasing concern about the excessive use of antibiotic growth promoters in animal feed. A majority of governments in the developed nations are restricting antibiotic use, which again in turn, has supported feed phytogenics' growth. The U.S., South Korea, and Europe have banned the use of antibiotics in animal feed. The feed phytogenics offer benefits such as improved reproduction rates, better feed efficiency, better palatability, and digestive stimulation. With the use of phytogenics, the livestock benefit from its antioxidative and antimicrobial benefits. Their feed intake increases and there is improved gut function leading to the prevention of diarrhea. Feed phytogenics positively influence numerous animal life processes and help fight against diseases to facilitate overall healthy growth. Also, the implementation of cutting edge technologies like active ingredient encapsulation has improved feed phytogenics' efficiency and driven market growth significantly.
Amid the COVID-19 crisis, the global market for Feed Phytogenics estimated at US$703.2 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 7.5% over the analysis period. Essential Oils, one of the segments analyzed in the report, is projected to grow at a 8.4% CAGR to reach US$546.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Flavonoids segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 21.3% share of the global Feed Phytogenics market.
The U.S. Market is Estimated at $194.5 Million in 2021, While China is Forecast to Reach $176.9 Million by 2026
The Feed Phytogenics market in the U.S. is estimated at US$194.5 Million in the year 2021. The country currently accounts for a 26.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$176.9 Million in the year 2026 trailing a CAGR of 8.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR while Rest of European market (as defined in the study) will reach US$189.4 Million by the end of the analysis period. Asia-Pacific represents the largest and the fastest growing region for feed phytogenics. The demand for phytogenic feed additives is boosted by the large livestock population and growth. Also, a growing awareness of the benefits of feed additive among consumers and livestock farmers and recent disease outbreaks will aid in growth. North America is also a significant market due to a growing need for more protein-concentrated and meat-based diets, which will increase the demand for meat and meat-based products.
Saponins Segment to Reach $151.7 Million by 2026
Saponins segment is anticipated to witness robust growth on account of increasing use in poultry production. In the global Saponins segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$84.3 Million in the year 2020 will reach a projected size of US$128.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21 Million by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period. More
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