Feed Phytogenics Market Overview
The Feed Phytogenics Market, valued at USD 35.03 billion in 2023, is projected to reach USD 64.45 billion by 2030, growing at a robust CAGR of 9.1% during the forecast period. Feed phytogenics are plant-based feed additives derived from herbs, spices, and other plants. They are increasingly being used as natural alternatives to antibiotic growth promoters (AGPs) in animal nutrition. The rising global concerns over the use of AGPs in animal feed due to their potential health risks have fueled the demand for feed phytogenics. As more countries impose restrictions or bans on AGPs, the market for phytogenics is witnessing significant growth.
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Report Scope
This report aims to provide a comprehensive assessment of the global Feed Phytogenics Market. It includes detailed insights, historical data, and market projections validated by industry experts. The report covers the market structure, identifying key segments, trends, and opportunities. It also analyzes the competitive landscape, highlighting key players, their strategies, and market positioning. Furthermore, the report provides PEST, PORTER’s, and SWOT analyses to help stakeholders make informed decisions. The impact of COVID-19 on the market, both in the short and long term, is also examined to provide a complete understanding of the market dynamics.
Drivers
The primary driver for the Feed Phytogenics Market is the growing global shift away from AGPs in animal feed. As consumers become more health-conscious and demand natural and organic products, the use of phytogenics as a safe and sustainable alternative is on the rise. The increasing incidence of livestock diseases and the subsequent need for enhanced animal nutrition also contribute to the market's growth. Additionally, advancements in the phytogenics industry, such as better processing techniques and the development of more effective formulations, are further driving market expansion. However, the lack of standardization and the availability of traditional herbal alternatives pose challenges to the market's growth.
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Key Players: The key players are
1. Delacon
2. Biomin
3. Cargill
4. DuPont
5. Adisseo
6. Dostofarm
7. Phytobiotics Futterzusatzstoffe GmbH
8. Pancosma
9. A&A Pharmachem Inc.
10. Kemin Industries
11. Phytosynthese
12. Igusol
13. Indian Herbs Specialities
14. Akay Group
15. Himalay
Segmentation:
By Type: The market is categorized into essential oils, herbs & spices, oleoresins, and others. In 2023, the essential oils segment held the largest market share, driven by their widespread use as natural growth promoters in animal feed.
By Livestock: The market is divided into poultry, swine, ruminants, and aquaculture. The poultry segment dominated the market in 2023, as the demand for organic and safe poultry meat continues to rise, leading to higher adoption of phytogenics in poultry feed.
by Type
Essential Oils
Herbs & Spices
Oleoresins
by Livestock
Swine
Ruminants
Aquatic Animals
Poultry
by Function
Performance Enhancers
Palatability Enhancers
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Feed Phytogenics Market Regional Analysis
In terms of regions, the Asia-Pacific (APAC) region dominated the Feed Phytogenics Market in 2023. The region’s growth is attributed to the increasing livestock production for meat consumption, coupled with rising disposable income. The growing awareness among livestock farmers about the benefits of feed additives and recent disease outbreaks are also driving the market in this region. Europe and North America are expected to remain significant markets for feed phytogenics, accounting for a substantial share of the global market by 2030. The Middle East & Africa (MEA) and Latin America are also emerging markets, with increasing demand for safe and sustainable animal nutrition solutions.
COVID-19 Impact Analysis
The COVID-19 pandemic had a mixed impact on the Feed Phytogenics Market. The lockdowns and supply chain disruptions led to short-term challenges in the market, particularly in the supply of raw materials and distribution of feed additives. However, the pandemic also heightened awareness about the importance of animal health and nutrition, leading to increased demand for natural feed additives like phytogenics. The market leaders were able to adapt to the changing dynamics by focusing on local production and distribution. The long-term impact of COVID-19 is expected to be positive, with a stronger emphasis on sustainability and safety in animal feed.
Key Questions Answered:
- What will be the CAGR of the Feed Phytogenics market during the forecast period?
- Which segment emerged as the leading segment in the Feed Phytogenics market?
- Who are the prominent players in the Feed Phytogenics market?
- What will be the Feed Phytogenics market size by 2027?
- Which company held the largest share in the Feed Phytogenics market?
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