Market Overview:
The Phytogenic Feed Additive Market estimated at USD 862.42 Million in the year 2022, is projected to reach a revised size of USD 1608.15 Million by 2030, growing at a CAGR of 8.1% over the analysis period 2023-2030.
Phytogenic, Phyto-biotics or botanicals, are plant-derived products used as feed additives, to potentially increase the performance of animal husbandry. Studies have shown that photogenic, play an important role in increased feed uptake, improved gut function, anti-oxidant effects, and anti-microbial effects. Moreover, phytogenic feed additives have found increased use, over traditional feed additives as they don't have antibiotics and are 100% natural. Phytogenic additives also enhance the flavor of the feed and also aid in digestion. Moreover, using phytogenic feed additives, reduces ammonia emission from livestock, thereby reducing nitrogen pollution.
Top Key Players in Phytogenic Feed Additive Market:
Cargill Incorporated (US), Dupont De Nemours, Bentoli (US), BIOMIN (Austria), DOSTOFARM Gmbh (Germany), Phytobiotics Futterzusatzstoffe Gmbh (Germany), Pancosma (Switzerland), The Himalaya Drug Company (India), Silvateam S.P.A. (Italy), NOR-FEED VIETNAM CO. LTD (France), INFOEMPRESA SL (Spain), Bluestar Adisseo Co. Ltd. (China), Natural Remedies (India), Delacon Biotechnik Gmbh (Austria), and Other Major Players.
Market Dynamics and Factors for the Phytogenic Feed Additive Market:
Drivers:
Encapsulation of Feed Additives
Phytogenic feed additives have shown positive effects on livestock, by showing anti-microbial properties thus reducing the use of modern antibiotics and in turn reducing the cost of its purchase. Essential oils are sensitive substances, that lose their potency and efficiency, due to high temperatures, significant odor, volatile, and oxidative properties. Encapsulated technology helps in the preservation of essential oils by increasing their shelf life, thereby protecting them from environmental changes. The growing need for nutritious and healthy food from livestock has driven the demand for the use of phytogenic feed additives.
Opportunities:
Increasing Population of Pet Owners
The developing economies have restricted the use of antibiotics, thereby supporting the expansion of the phytogenic feed additive market. The increase in concern of pet owners, in the quality, safety, and source of the ingredients utilized in the manufacturing of pet foods is providing opportunities for companies to come up with innovative feed products containing anti-microbial, anti-oxidant, and other qualities, that will help in keeping the pets healthy. Moreover, nowadays it has become a trend to keep pets, thereby increasing the population of pet owners significantly, and increasing the opportunities for companies to come up with phytogenic food additives in their food segment.
Segmentation Analysis of the Phytogenic Feed Additive Market:
By Product, the essential oils segment is expected to dominate the phytogenic feed additive market during the forecast period. Essential oils find utilizations in feed for all livestock and are particularly beneficial in the large poultry feed industry. In the ruminant industry, the utilization of essential oils results in a marked reduction of nitrogen pollution by decreasing ammonia emissions.
By livestock, the poultry segment is expected to dominate the phytogenic feed additive market throughout the projected period. With approximately 16 billion chickens across the globe and many millions of ducks and pheasants, the poultry industry is the largest in the world.
Regional Analysis of the Phytogenic Feed Additive Market:
Asia Pacific region ex anticipated to dominate the maximum phytogenic feed additive market share during the forecast period. The rising livestock sector in the Asia Pacific and the significant industrialization of the sector will turn the demand for feed phytogenic throughout the forecast period. The increasing consumer health concerns, especially in meat & dairy products, have resulted in the demand for natural feed additives in Asian countries, in turn, turning product demand and their growth rate.
Key Industry Development:
In February 2021, Nor-Feed and Natural Biologics declared the new collaboration that targets to stimulate the warehousing, logistics, and delivery of Nor-Feed products, directly within the U.S. for their consumers, this is going to help Nor-Feed in its expansion across the United States.
In January 2020, Delacon Biotechnik GmbH launched a new product BioStrong Comfort in US and Canadian markets. This product contains plant-derived antioxidants and is developed to lessen the impact of heat stress during high temperatures and humidity.
