Feed Phytogenics Market size is estimated to reach $1,206.45m by 2025 and is poised to grow at a CAGR of 9.3% during the forecast period 2020-2025. Phytogenics are the natural growth promoters over non-antibiotic growth promoters that are used as feed additives. Feed Phytogenics are mainly derived from spices and herbs or other plants. Feed Phytogenics are used as an alternative to antibiotic growth promoters in livestock production. The feed Phytogenics industry is set to continue its growth over the forecast period (2020-2025) owing to the antibiotic-free nature and other health-inducing benefits of Phytogenics in animals and increasing feed production.
- Geographically, the Asia Pacific region is the largest market for Feed Phytogenics owing to increasing demand for quality meat products and awareness about food safety is set to grow over the forecast period (2020-2025).
- The growing production of feed drives the feed Phytogenic market, owing to its rapid efficiency and performance and the health-induced benefits of Phytogenics in animals.
- Livestock farmers’ lack of awareness of the benefits of feeding Livestock with Feed Phytogenics is one of the factors hindering the Feed Phytogenics market and is set to continue unless the livestock farmer is aware.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is set to be provided in the Feed Phytogenics Market report.
By Type- Segment Analysis
The global Feed Phytogenics market based on the Type has Herbs & Spices, Essential Oils, Oleoresins, Mucilage and others. Essential Oils segment is estimated to rapidly increase during the forecast period 2020-2025 owing to ban on use of antibiotics as a growth promoter in the animal feed. Essential oils-based feed Phytogenics are easy to digest and help boost various life-sustaining metabolic processes, which increase product entry into the market. In addition, industry players are investing in research to extract pure essential oils supplemented with fodder, which stimulate feed Phytogenics market statistics.
By Livestock – Segment Analysis
The global Feed Phytogenics market based on the Livestock has cattle, poultry, aquaculture swine, and pet foods. Increasing fish consumption, increased demand for by-products such as cod liver oil, caviar and fish meal is likely to increase the adoption of feed Phytogenics over the forecast period (2020-2025). Phytogenics compounds in aquatic applications help reduce feed costs and increase productivity. The poultry sector is set to have a major share of the global market in terms of revenue and is also estimated to register the highest CAGR owing to rise in demand.
By Geography – Segment Analysis
The Asia Pacific region registered for major share in terms of revenue in the year 2019. It is set to continue rapid growth in terms of revenue over the forecast period 2020-2025, owing to increasing demand for quality meat products and increasing awareness of food safety and quality of meat among consumers in countries in the region. The market in China is set to have a major share in terms of revenue in the Asia Pacific market. The ban on the use of antibiotics as a growth promoter drives the mainstream European Phytogenic feed additives industry. Furthermore, strict regulations on synthetic feed additives are set boost the region’s growth in the coming years.
Drivers – Feed Phytogenics Market
- Increasing production of animal feed
The growing production of feed drives the Feed Phytogenic market, due to the rapid efficiency and performance of the Phytogenics in animals and the health-induced benefits. Improved feed conversion ratio and increasing demand for antibiotic-free additives from livestock producers further stimulates the need for feed Phytogenics.
Challenges – Feed Phytogenics Market
- Rise in cost of feed ingredients
Increase in feedstock prices and the government’s stringent regulatory framework is set to hinder the industry’s growth over the forecast period (2020-2025). On the other hand, Livestock farmer’s lack of awareness of the benefits of feeding livestock with Feed Phytogenics is another factor hindering the Feed Phytogenics market
Feed Phytogenics Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Feed Phytogenics Market. Key companies of this market include Cargill, Incorporated, I. du Pont de Nemours and Company, BIOMIN Holding GmbH, Delacon Biotechnik GmbH, Bluestar Adisseo Company, Kemin Industries, Inc., DOSTOFARM Gmb, Phytobiotics Futterzusatzstoffe Gmbh, Pancosma SA, A&A Pharmachem Inc.
- In March 2019, Kemin Industries Inc. launched Organic KEM GLO for North American egg producers.
- In May 2018, Kemin Industries operated three antibiotic alternative (ABA) solutions in collaboration with its Filipino distributor, PeekHealth Inc.
- In October 2017, Biomin announced its plans to launch new feed Phytogenic production.