The feed phytogenic market share is projected to rise from US$ 782.3 Mn in 2022 and is projected to surpass US$ 1,510.4 Mn by 2032. The sales of feed phytogenic is projected to grow at an average CAGR of 6.8% during the forecast period.
The demand for feed phytogenic is expected to expand since they cater to a number of livestock across feed sectors, such as phytogenic feed additives in poultry, and are also gaining significant traction in the feed phytogenic market. With the use of natural additives gaining greater client acceptance globally, the feed phytogenic market size is expected to grow significantly throughout the forecast period. The sales of feed additives has expanded dramatically as livestock output and middle-class per capita income have increased, as has the demand for organic meat and meat consumption. Antibiotic use is also being regulated by a number of developed-country governments.
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The leading companies in the feed phytogenic market have also adopted cutting-edge technologies, such as the encapsulation of active ingredients, which has enhanced the sales of feed phytogenic and lead to a rise in the market.
Essential extracts from a variety of spices and herbs are among the most important raw materials used in the manufacturing of feed phytogenic. However, the increase of feed phytogenic market share has been constrained by the exorbitant price of essential oils. Furthermore, it is predicted that in the forecast period, this trend is likely to restrain the feed phytogenic market. Farmers strive valiantly to maintain the health of the animals while making sure that the cost of phytogenic feed remains affordable.
Key Takeaways from Market Study
- The North American feed phytogenic market is expected to exceed US$ 150 million by 2032, owing to increased demand for chicken meat. Consumers in the area are rapidly shifting from beef to chicken meat, which is expected to enhance demand for phytogenic feed in poultry.
- Vietnam and Indonesia are two of the Asia-Pacific region’s top feed-producing nations, and feed phytogenic market share is expanding in popularity among phytogenic feed producers.
- Rising animal health concerns and a preference for natural commodities are expected to propel the feed phytogenic sector in Germany. It is based on organic agriculture; thus the availability of raw materials helps to reduce the cost of phytogenic manufacturing.
- Brazilian beef is primarily imported into China and Hong Kong, while the country has recently started exporting organic meat to many other countries.
- Herbs and spices have gained popularity due to their therapeutic properties, culinary appeal, and the ban on the use of particular antibiotics as growth promoters.
- Essential oils are the primary plant-derived ingredient employed in all types of cattle among feed phytogenic compounds.
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“Consumers are increasingly choosing better value and quality foods like meat, eggs, and milk over meals manufactured from plants, like cereals, as a result of the increased desire for more nutritional variety and a higher intake of protein. Due to these modifications in consumption habits and the region’s large population growth, the demand for a feed phytogenic overall has expanded significantly.” –FMI Analyst
Competitive Landscape
The feed phytogenic market is fairly competitive and less consolidated as a result of the presence of a small number of large- and small-scale companies. The complicated composition of feed phytogenic and the rising cost of feed components are the two main factors limiting the market for feed phytogenic. Expansions, the development of new products, and acquisitions are the main strategies employed by market participants to ensure their growth in the industry.
- Kemin Industries announced the new phytogenic feed additive VANNIXTM C4 in January 2020, adding the comprehensive range of chicken gut health solutions supplied by Kemin Animal Nutrition and Health – North America.
- Delacon Biotechnik GmbH launched BioStrong Comfort in the US and Canadian markets in January 2020. This product was developed to reduce the effects of heat stress during high temperature and humidity periods, and it contains antioxidants derived from plants.
- Delacon and Cargill collaborated in 2017 to create better solutions for their clients. Cargill made a minority stock investment as part of this deal. Delacon launched its phytogenic products in China in March 2020, following its entry into the Russian market in 2019.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the Feed Phytogenic market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
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The study offers compelling insights based on Product Type (Essential Oils, Herbs & Spices, Oleoresins, Others Product Type), Livestock (Poultry, Ruminants, Swine, Aquatic Animals), Function (Performance Enhancers, Palatability Enhancers), across seven major regions of the world.
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