Global Feed Phytogenics Market to grow with a CAGR of 6.05 %
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Feed Phytogenics Market.
According
to TechSci Research report, “Global Feed Phytogenics Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Feed Phytogenic Market
has valued at USD 740.01 million in 2022 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 6.05% and will probably reach 0.80
billion by 2028. This can be due to collaborations and partnerships among
leading companies with a diverse approach to merge the expertise of individual
companies and to strengthen their position in the market.
The
global expansion of animal agriculture is indeed a significant driver for the
Global Feed Phytogenic Market. The continued growth of the livestock and
poultry industries worldwide creates a substantial demand for feed additives,
including phytogenics. As the global population continues to grow, so does the
demand for animal-based protein products, such as meat, dairy, and eggs. This
drives the expansion of animal production in various regions, which, in turn,
leads to increased demand for additives that can improve animal health and
performance. Modern animal agriculture often involves intensive farming
practices to meet the growing demand for animal products. These practices can
lead to challenges such as stress, disease susceptibility, and digestive issues
in animals. Phytogenic additives are used to mitigate these challenges and
optimize animal production in intensive systems. Phytogenic additives are known
to enhance feed efficiency by promoting better nutrient utilization and feed
conversion ratios. This is particularly valuable in intensive animal production
systems, where maximizing production with minimal resources is essential.
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The
United States and China held 17.7% and 13.7% of the market share for feed
phytogenics, respectively, in 2022, making them the market's two largest
players. Phytogenics have emerged as a significant substitute as the usage of
feed antibiotics is prohibited in the US, Europe, and other nations.
In
December 2022, A deal to purchase Nor-Feed and its affiliates, a French company
that develops, produces, and sells plant-based speciality ingredients and plant
extracts for animal nutrition, was announced by the Adisseo group. The Adisseo
Group's plan to lead the market for speciality feed additives includes this
acquisition. To strengthen and increase the penetration and adoption of these
solutions in extremely high-growth regions where Adisseo is already
well-established and has genuine legitimacy, Adisseo and Nor-Feed have already
recognised some synergies. Nor-Feed will continue to run its R&D,
manufacturing, and sales network independently. Pierre Chicoteau and Olivier
Clech will remain in charge of the business. To assist Nor-Feed in achieving
its goals and putting the found synergies into practice, ADISSEO will make use
of all its network and expertise.
Consumer expectations can pose challenges for
the Global Feed Phytogenic Market. As consumers become more conscious of the
food they consume and the production practices behind it, their expectations
play a significant role in shaping the market for feed phytogenic additives. Consumers
increasingly prefer natural and sustainable animal products. This preference
drives the adoption of feed additives like phytogenics, which are considered
natural and environmentally friendly. However, meeting these expectations
requires sustainable sourcing of ingredients and adherence to eco-friendly
production practices. Ensuring the safety and quality of animal products
is a top priority for consumers. Any feed additive, including phytogenics, must
meet rigorous safety and quality standards to maintain consumer trust. This
includes adherence to regulatory guidelines and quality control measures
throughout the supply chain. Consumers are increasingly concerned about animal
welfare and humane treatment. Phytogenic additives are expected to contribute
to improved animal health and well-being.
Global Feed Phytogenics Market segmentation is
based on Sub Additive, Animal, and Region.
Based on Sub Additive, Global Feed Phytogenics Market
is segmented into Essential Oil, Herbs & Spices, and others. Herbs
and spices feed phytogenics are a subset of feed phytogenic additives that
specifically utilize plant-based herbs and spices for their beneficial effects
in animal nutrition. These natural ingredients are known for their aromatic and
flavorful properties and have been used for centuries in human diets. When
incorporated into animal feed, herbs and spices can provide various health and
performance benefits. Herbs and spices feed phytogenics and are often used as
natural alternatives to antibiotics in animal nutrition. They can help support
animal health without relying on antibiotics, addressing concerns about
antibiotic resistance. The use of herbs and spices aligns with sustainability
goals in animal agriculture because they are natural and renewable plant
resources. They offer a more environmentally friendly alternative to synthetic
additives.
Based on Region, Asia-pacific dominated the Global
Feed Phytogenics Market. Asia-Pacific is home to a substantial
and diverse livestock industry, including poultry, swine, aquaculture, and
ruminant production. The region's significant livestock populations create
substantial demand for feed additives, including phytogenics. Asia-Pacific has
a rapidly growing population and a rising middle class with increased demand
for animal protein products. This demographic trend has led to an expansion of
the livestock and poultry sectors to meet the growing demand for meat, eggs,
and dairy. Consumers in Asia-Pacific, like many parts of the world, are
increasingly concerned about the safety and quality of animal products. There
is a growing awareness of the benefits of natural and sustainable practices in
animal agriculture, driving the adoption of phytogenic feed additives.
North
America region to fastest growth in the Global Feed Phytogenics Market. North America
has a growing livestock and poultry sector, including beef and dairy cattle,
poultry, swine, and aquaculture. The expansion of these industries creates
increased demand for feed additives to support animal health and performance.
Rising incomes and urbanization in North America are leading to increased meat
consumption. As a result, there is a need to enhance the efficiency and
productivity of animal production to meet the growing demand for meat and
animal protein products. This region’s consumers and producers are increasingly
interested in natural and sustainable practices in agriculture. Phytogenic feed
additives, derived from plant-based sources, align with these preferences for
natural and eco-friendly solutions.
Some of the major companies
operating in the Global Feed Phytogenics Market include:
- Adisseo Espana SA
- Alltech, Inc.
- Borregaard AS
- Cargill Inc.
- DSM Nutritional Products AG
- IFF (Danisco Animal Nutrition)
- Kemin Industries Inc.
- Land O'Lakes Inc.
- Marubeni Corporation (Orffa International
Holding B.V.)
- Prinova
Group LLC
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“Certain areas, particularly in North America, are
projected to exert significant demand for Feed Phytogenic. The growth in the
competitive landscape and the presence of well-established companies in the
market, committed to enhance the overall wellbeing of people each year, are
expected to contribute to a remarkable growth of the Global Feed Phytogenics Market
in the forecast period," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
Feed
Phytogenic Market - Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented by Sub Additive (Essential Oil, Herbs & Spices,
others), by Animal (Aquaculture, Poultry, Ruminants, Swine, others), and By
Region, Competition evaluated
the future growth potential of Global Feed Phytogenics Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide innovative market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Feed Phytogenics Market.
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