Phytogenic Feed Additives Market: Current Analysis and Forecast (2022-2028)

Phytogenic Feed Additives Market: Current Analysis and Forecast (2022-2028)

The phytogenic feed additives market is expected to register a CAGR of approx. 7% over the period of 2022-2028. Phytogenic is a naturally occurring growth promoter. Phytogenic has numerous benefits for modern livestock production, including antioxidative, anti-microbial, anti-inflammatory, and digestion-enhancer properties. To encourage growth, they are included in the feed for animals. Phytogenic has gained popularity over conventional feed additives because they are all-natural and free of antibiotics. Phytogenic additives help with digestion while improving the flavour of the feed. Certain herbs, spices, and oils, specifically lemon and caraway oil, contain phytogenic compounds that aid in the growth of certain animals. The growing demand for phytogenic feed additives can be attributed to the rising fortification of phytogenics in bovine feed on account of adding flavor and inducing high feed intake for growth and reproductive performance which boosts the adoption of organic growth strategies among key industry players around the globe. For instance, in January 2020, Kemin Industries introduced VANNIXTM C4, a new phytogenic feed additive that complements Kemin Animal Nutrition and Health – North America's full portfolio of poultry gut health products. VANNIX C4 is a formulation of gut-health-fortifying ingredients that are designed as a cost-effective solution for producers. These products are to promote a healthy intestinal microbial balance and support the overall performance of the animal. Owing to the glaring statistics due to the rising awareness about animal health & feed quality help to boost the phytogenic feed additives market across the globe and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the phytogenic feed additives market is anticipated to grow on account of the rising importance of improving feed quality and preventing poultry diseases. In addition, increased demand for livestock products and the ban on antibiotics as growth promoter drives the market growth. However, some of the restraints in the market including the high cost of natural feed additives and the complex composition of phytogenic compounds are impeding the growth of this market all over the world.

• Based on the type, the phytogenic feed additives market is segmented into essential oils, flavonoids, saponins, oleoresins, and others. The oleoresins segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Oleoresins are used more frequently as phytogenic feed additives all over the world due to their desirable properties of being able to add colour, flavour, and aroma to livestock feed, which improves the feed's palatability. As their consumption and acceptance continue to rise over the forecasted period, the oleoresins are likely to experience significant growth.
• Based on the source, the market is fragmented into herbs and spices, flowers, fruits and vegetables. The fruits and vegetables segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Waste from fruits and vegetables is used specifically in phytogenic feed additives for sustainability, and it also addresses the problems of waste recycling and waste reduction. Additionally, fruits and vegetables like berries, citrus fruits, and onions are used as sources to extract essential oils, flavonoids, and saponins, and their oils are thought to be an excellent phytogenic additive which propels their demand and market growth in the industry.
• Based on the form, the market is fragmented into liquid and dry. The dry segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The dry market is increasingly used and accepted by consumers because it is thought to be simpler to use and handle. Due to their increased nutrient digestibility and decreased feed wastage, the powdered form of the dry segment is also more cost-effective and is expected to experience significant demand and growth over the foreseeable future.
• Based on the function, the market is fragmented into performance enhancers, antimicrobial properties, palatability enhancers, and others. The antimicrobial properties segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The antiviral and antimicrobial properties of phytogenic feed additives account for a large portion of their use in feed products. The main functions of phytogenic feed additives are pathogen control and modulation of intestinal microbiota. They are regarded as a good substitute for antibiotic growth promoters because they have potent antimicrobial and antifungal properties. Over the anticipated period, the market growth and demand for phytogenic feed additives are likely to be influenced by these favorable characteristics.
• Based on livestock, the market is fragmented into poultry, swine, ruminants, aquatic animals, and others. The swine segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The growth and use of feed phytogenic products in swine has been aided by the sharp rise in the consumption of pork and other swine products in recent years. The use of phytogenic feed intakes in swine for a variety of purposes, including increasing feed intake, enhancing gut function, and boosting disease resistance, has significantly fueled the market growth for these products in recent years.
• For a better understanding of the market adoption of phytogenic feed additives, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes a major market for the phytogenic feed additives industry this is due to the lack of harmful residues in plant-based additives. Additionally, the replacement strategies for antibiotic growth promoters are likely to aid the market growth in this region. Furthermore, an increasing number of feed mills and feed production, greater demand for feed, and a rise in awareness about the need for quality feed among livestock farmers are boosting the growth of the market.
• Some of the major players operating in Cargill, Incorporated.; Archer-Daniels-Midland Co; DuPont de Nemours Inc; Koninklijke DSM N.V.; Land O' Lakes; Bluestar Adisseo Co; SHV Holdings NV; Kemin Industries, Inc.; Dostofarm GmbH; Silvateam S.p.a. among others. Several M&A’s along with partnerships have been undertaken.