“Rise in demand for naturally produced feed additives and growing concern regarding animal health is projected to drive the growth of the global phytogenic feed additives market.”
The global phytogenic feed additives market size is projected to grow from USD 701 million in 2019 to USD 1,226 million by 2025, at a CAGR of 9.8% during the forecast period. Availability of new technologies, namely, encapsulated phytogenic feed additives, rise in demand for naturally produced feed additives, and growing restriction on the use of antibiotics drives the phytogenic feed additives industry. However, fluctuating prices of raw material are projected to hinder the growth of the market.
“The poultry segment, by livestock, is estimated to dominate the phytogenic feed additives market in 2019.”
Poultry is domesticated for the production of eggs and meat for consumption. Many factors impact the feed intake of poultry birds and significantly impact the nutritional well-being and efficiency of poultry production. The poultry segment accounted for the largest share in 2018, in terms of value. The dominance of poultry can be attributed to the higher demand for antibiotic growth promoter (AGP) replacers, especially in the US, China, and Brazil.
“The essential oils segment, by type, is projected to account for the largest share during the forecast period in the phytogenic feed additives market.”
Essential oils, which are sourced primarily from herbs & species, are preferred by most of the animal feed manufacturers and livestock producers. Thus, the segment is estimated to dominate the phytogenic feed additives industry in 2018. Also, the use of essential oils in the feed has increased significantly as a result of the ban on antibiotic growth promoters as feed additives in the European Union in 2006 and later in other countries. The major kinds of essential oils used for feed phytogenics are thyme oil, rosemary oil, origanum oil, onion oil, marjoram oil, hop oil, garlic oil, basil oil, and anise oil.
“Europe is projected to be the fastest-growing region in the phytogenic feed additives market.”
The ban on the use of antibiotics as a growth promoter primarily drives the European phytogenic feed additives industry. Furthermore, the stringent regulations imposed on synthetic feed additives boost the growth of the region in the coming years.
The presence of key phytogenic feed additive manufacturers such as Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), DOSTOFARM GmbH (Germany), Phytobiotics Futterzusatzstoffe GmbH (Germany), Pancosma (Switzerland), Phutosynthese (France), Silvateam S.p.A. (Italy), NOR-FEED (France), and IGUSOL S.A. (Spain) is also responsible for high growth of the region.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, feed additive manufacturers, and executives from various key organizations operating in the phytogenic feed additives market.
- By Designation: CXOs: 30%, Managers: 20%, and Others: 50%
- By Region: Asia Pacific: 25%, South America: 10%, North America: 15%, Europe: 40%, RoW: 10%
*Others include junior level employees
**RoW includes the Middle East and Africa.
The phytogenic feed additives market comprises major manufacturers such as Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), Cargill, Incorporated (US), and Natural Remedies (India). The study includes an in-depth competitive analysis of these key players in the phytogenic feed additives industry, along with their company profiles, recent developments, and the key market strategies.
- The study covers the phytogenic feed additives market across various segments. It aims at estimating the market size and growth potential across different segments, such as type, livestock, source, function, form, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall phytogenic feed additives market and its subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.