Westford USA, April 27, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the phytogenic feed additives market will attain a value of USD 1583.18 million by 2030, with a CAGR of 7.7% over the forecast period (2022-2030). A significant market expansion is anticipated to occur during the forecast period. The market is expected to develop due to several factors, such as the rising demand for natural and organic products, increasing awareness of the importance of animal welfare issues and an international ban on antibiotics in animal feed. The meat and dairy industries are the primary end users of phytogenic feed additives due to the rising demand for high-quality animal products and the growing advantages of employing natural and organic feed additives. Due to the large demand for chicken products and the need to enhance growth performance of birds, the poultry industry also makes up a sizeable portion of the end users for phytogenic feed additives.
According to the SkyQuest, the market is expanding due to the rising demand for phytogenic feed additives in pet food and aquaculture. The growth in these industries is driven by the growing knowledge of the advantages of employing natural and organic feed additives and the rising demand for high-quality and secure products. Several significant market participants dominate the industry, including Cargill, BIOMIN, Delacon, Pancosma, and Adisseo. These businesses are increasing their manufacturing capabilities to keep up with the rising demand for phytogenic feed additives while also investing in research and development efforts to create new and inventive products.
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- Tables - 62
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Phytogenic feed additives, commonly referred as plant-based feed additives, organic compounds made from herbs, spices and other plants that are added to animal feed to enhance animal performance and health. These additives are utilized as substitutes for synthetic feed additives such as preservatives, antibiotics and growth promoters that are frequently used in animal feed. Essential oils, tannins, flavonoids and saponins are a few bioactive substances in phytogenic feed additives. These substances have antibacterial, antioxidant, anti-inflammatory and digestive-stimulating characteristics. These substances aid in increasing feed digestibility, nutrient absorption and animal immunity. In addition to being utilized in aquaculture and pet food, phytogenic feed additives are frequently used in the production of meat, dairy and poultry products.
Prominent Players in Phytogenic Feed Additives Market
- Cargill
- ADM
- DuPont
- DSM N.V.
- Land O' Lakes
- Adisseo
- Nutreco
- Kemin Industries
- Natural Remedies
- Nor Feed
- Tegasa
- Dostofarm
- Phytobiotics Futterzusatztoffe
- Silvateam SPA
- Synthite Industries Ltd.
- Ayurvet Limited
- Growell India
- Indian Herbs
- Nutrex
- Igusol
- Himalaya Wellness
- Nutricare Life Sciences
- Nutra Feed Ingredients
- Natural Herbs & Formulations
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Dry Phytogenic Feed Additives Segment is Expected to Grow Due to Increasing Nutrient Digestibility
The market for phytogenic feed additives is segmented into dry phytogenic feed additives, which is developing at the faster rate. The dry phytogenic feed additives segment is more popular with consumers and used in the business since it is simple to use and handle. Furthermore, they are predicted to experience high demand and expansion throughout the forecast period due to the powdered form of the dry sector which is more affordable. The powdered form also increases the nutrient digestibility and reduces the feed wastage.
North America is expected to grow rapidly in the phytogenic feed additives market. The US, which is the second-largest feed producer in the world had a significant impact on the growth of the feed phytogenic business in North America. The Food and Drug Administration (FDA) has implemented new regulations that severely restrict the routine use of antibiotics on the US farms. As one of the alternatives to antibiotics there is a huge demand for phytogenic ingredients feed. Based on the rapidly growing population of broilers, the production of poultry feed is rising dramatically in these regions.
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Antibacterial properties Segment is Anticipated to Grow Owing to the Demand for Natural and Organic Animal Products
The antibacterial properties segment is the second-largest market category. Phytogenic feed additives are frequently employed in feed formulations due to their anti-viral and anti-bacterial capabilities. The main functions of the phytogenic feed additives are pathogen control and modulation of gut microbiota. They are regarded as a good substitute for antibiotic growth promoters because of their potent anti-bacterial and anti-fungal abilities.
Asia Pacific is the largest and fastest-growing region in the market for phytogenic feed additives. This expansion is ascribed to several factors, including the rising demand for meat and dairy products, the growing awareness among consumers for the advantages of utilizing natural and organic feed additives followed with the growing concern for health and welfare of animals. China is the largest region in the Asia Pacific for phytogenic feed additives due to the country's abundance of feed producers and livestock farmers.
A comprehensive analysis of the major players in the Phytogenic Feed Additives market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Phytogenic Feed Additives Market
- Cargill (US) acquired Delacon (Austria) in mid-2022 after a successful five-year partnership The acquisition expands the global understanding of deep feed additives. In addition, the combination of animal health technology from Cargill and phytogenic feed additives from Delacon increased animal productivity and supported sustainable production
- Neolac is a research project sponsored with GBP 2.5 million and started in 2021 with assistance from partners such as Biodevas laboratories, INRAE and SODIAAL. By utilizing cutting-edge photogenic treatments, tested at 100 farms in Brittany, France for more than four years, it seeks to reduce antibiotics on dairy farms
Key Questions Answered in Phytogenic Feed Additives Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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