- Phytogenic feed additives are currently used for all types of livestock, including pets, due to their excellent medicinal, preservative, and aromatic properties.
- Performance enhancing Feed Phytogenic Market additives are known to be more effective than their artificial counterparts, thus, contributing to market growth.
- The use of feed phytogenic additives has shown to increase weight and reduce ammonia emissions of poultry, thereby enhancing health.
Phytogenic feed additives are currently used for all types of livestock, including pets, due to their excellent medicinal, preservative, and aromatic properties. This market has the potential to eventually overtake the artificial feed additive market as phytogenics offer the same properties as artificial additives with the added benefits of being eco-friendly and having no adverse side effects.
The Global Feed Phytogenic Market was valued at $636.5 million in 2018 and is expected to cross $1.04 Billion by 2024, registering an impressive CAGR of 8.5%.
Currently, the pallatability enhancers segment is larger as these additives are not subject to stringent regulations. Performance enhancing feed phytogenic additives must comply with strict regulations, especially in Europe and North America. Performance enhancing Feed Phytogenic Market additives are known to be more effective than their artificial counterparts, thus, contributing to market growth.
The performance enhancing feed phytogenic segment has vast untapped potential and manufacturers may invest in the research and development of these products to increase their market shares.
By Livestock Type
Ruminant: The ruminant segment is the second largest. The large bovine population in Asia and the Americas are driving the growth of the segment. The emphasis on enhanced dairy production and the ban on antibiotics for livestock are further fueling growth.
Swine: China, Germany, and the US as the world’s largest consumers of pork, with China consuming more pork than all the others combined. With pork being susceptible to multiple diseases and pathogens that can be transferred via consumption, maintaining swine health is a priority that is driving segment growth.
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Poultry: This is the largest market segment. With over 16 billion chickens in the world and many millions of ducks and pheasants, the poultry industry is the largest in the world. The use of feed phytogenic additives has shown to increase weight and reduce ammonia emissions of poultry, thereby enhancing health.
Aquaculture: Aquaculture is very active in South-East Asia and China, where consumption is the highest globally.
Performance Enhancers: The market segment with the most potential, it is currently underdeveloped due to heavy regulations and the need for research on the effects of performance enhancers.
Palatability Enhancers: The largest market segment, palatability enhancers ensure feed consumption, thereby reducing feed wastage and promoting animal growth. This segment is expected to grow due to limited regulations and low costs for manufacturing palatability enhancers.
North America (the fastest-growing regional market), Europe, Asia-Pacific (the largest regional market), and Rest of the World.
Key Market Players are: Biomin Holding GmbH (Austria), Cargill Inc. (US), DowDupont (US), Kemin Industries Inc. (US), Phytobiotics Futterzusatzstoffe GmbH (Germany), Bluestar Adisseo Company (China), Synthite Industries Ltd. (India), The Himalaya Drug Company (India), Pancosma (Switzerland), Dostofarm GmbH (Germany), Phytosynthese (France), Silvateam S.P.A. (Italy), Delacon Biotechnik GmbH (Austria), and Natural Remedies (India).