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Feed Phytogenic Market Size to Grow at a CAGR of 9.7% During the Forecast Period 2021-2026

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Feed Phytogenic Market Size to Grow at a CAGR of 9.7% During the Forecast Period 2021-2026

May 05
01:10 2021
Feed Phytogenic Market Size to Grow at a CAGR of 9.7% During the Forecast Period 2021-2026

Feed Phytogenic Market
Rising Production Demand and Acceptance of Pet Food Nutrition Driving the Growth of Feed Phytogenic Market.

Feed Phytogenic Market size is $836 Million in 2020, growing at a CAGR of 9.7% during the forecast period 2021-2026. Phytogenic feed products are a category of natural growth promoters derived from essential oils, herbs and spices, and plant extracts. Increased feed intake, digestion enhancement, immune help, and muscle & bone growth are possible advantages provided by these products. Phytogenic feed additives have a beneficial impact on livestock health, but they are typically difficult to handle in the feed. As these are highly susceptible to oxidative & volatile properties, pungent odour, and high temperatures, many sensitive sources of phytogenics, especially essential oils, lose their efficiency and effectiveness. The increasing prevalence of diseases such as swine fever, mad cow disease, bird flu, and listeriosis has led farmers to become more concerned about the use of animal additives that drive market development.

Feed Phytogenic Market Segment Analysis – By Source

In 2020, Herbs & Spices segment dominated the Feed Phytogenic Market in terms of revenue owing to their medicinal properties and flavours and the ban on the use of some antibiotics as growth promoters. They are also gaining popularity in terms of long-term use as they do not have a negative effect on livestock. The antioxidative and antimicrobial efficacy of herbs & spices in animal feed has been verified by various studies. Herbs & spices facilitate the safe digestion of livestock have anti-inflammatory properties and when applied to animal nutrition, they serve as antimicrobials, antioxidants, and immunostimulants as phytogenic feed additives abetting towards the growth of the market. Fruit and Vegetables is estimated to record the fastest CAGR of 10.1% during the forecast period 2021-2026 owing to the introduction of creative and unique products by producers that attract customers, which drives the market growth.

Feed Phytogenic Market Segment Analysis – By Livestock

In 2020, Poultry segment dominated the Feed Phytogenic Market in terms of revenue owing towards rising production of monoclonal antibodies (MAb) therapeutics. On the back of continuous technological developments, coupled with economic growth, poultry production has become vertically integrated and more intensive. The rise in disposable incomes of the population of the middle class worldwide has contributed to an increase in demand for healthy and organic poultry meat, thereby fueling the adoption of phytogenic feed. Swine is estimated to record the fastest CAGR of 10.4% during the forecast period 2021-2026 owing to increased pork consumption. In order to ensure meat quality and protection, demand for phytogenic feed additives is expected to increase with growing pork trade and concerns about meat safety, which in turn drives the market growth.

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Feed Phytogenic Market Segment Analysis – By Geography

In 2020, the Asia-Pacific dominated Feed Phytogenic Market in terms of revenue with a market share of 39% owing towards rising public & private funding for R&D in this region with increasing production and demand for organic feed products. The use of antibiotics by producers to artificially fatten livestock is also faced with a recommendation by the National Antimicrobial Resistance Action Plan Committee in India for a ban, thus fueling growth in the Indian market for natural additives such as phytogenics. In addition, the region has seen an increase in the number of feed mills and the output of feed, particularly in countries such as India and Japan. The rise in feed production reflects this increase in the number of feed mills aids to the market’s growth. In addition, improving living standards are forecasted to drive the demand in this region. North America is forecasted to record the fastest growth rate during the forecast period 2021-2026 owing to the need for a protein-rich meat diet resultant to increased demand for meat and meat products.

Feed Phytogenic Market Drivers

Rising Production Demand And Acceptance Of Pet Food Nutrition

Innovative feed products made from naturally derived ingredients, such as plants and microbes, are being produced by several companies. Many companies sell plant-based feed additives for pet food, such as Silvateam S.p.A. (Italy). Thus the rise in the pet population convince many feed additive players to launch phytogenic feed additives in the pet food market, along with pet owners’ concerns about pet health and nutrition drives the market growth. The need for botanical feed additives is further caused by the need for an improved feed conversion ratio and antibiotic-free additives from an increasing number of livestock producers. Owing to the accelerated productivity and output and health-induced benefits of phytogenics in animals, the rising feed demand is driving the phytogenic feed market.

Feed Phytogenic Market Challenges

Counterfeit Products And High Cost Of Active Ingredients

In various countries, the lack of clarity in patent security laws and regulatory enforcement has contributed to the duplication of goods. In order to reap the benefits of the increasing demand for plant-based feed additives, low-quality products are also added to the market by regional or local producers. Duplicate and low-quality goods can cause animal health problems and are a major concern for producers hampering the market growth. The raw materials used in the production of phytogenic feed are basic extracts from various spices and herbs. The prices of essential oils, however are high, which has impeded the growth of phytogenic feed products.

Feed Phytogenic Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Feed Phytogenic Industry. Feed Phytogenic top 10 companies include Bluestar Adisseo Company, Kemin Industries, Inc., DOSTOFARM Gmb, Phytobiotics Futterzusatzstoffe Gmbh, Pancosma SA, A&A Pharmachem Inc., Cargill, Incorporated, DuPont de Nemours and Company, BIOMIN Holding GmbH and Delacon Biotechnik GmbH.

Acquisitions/Product Launches

In January 2020, Kemin Industries, Inc. launched VANNIX™ C4 lineup of poultry gut health solutions. VANNIX C4 is a patented formulation of natural gut-health-fortifying ingredients designed to mitigate the impact of entry challenges on poultry efficiency as a cost-effective solution for producers.

In October 2016, BIOMIN Holding GmbH launched new phytogenic feed product. The company finds the market for feed phytogenic additives to be very fragmented and there is ample room for new products. As the next version of Digestaron, the company calls for this product and requires the use of innovative technologies for which a patent has been applied.

Key Takeaways

The rising awareness of livestock diseases has led to improved animal feeding practices being introduced is accelerating the Feed Phytogenic demand over the forecast years 2021-2026.

Increasing consumption of seafood and increasing demand for derivative products such as cod liver oil, caviar and fish meals are likely to improve the adoption of phytogenic feed products.

North America region is projected to record the fastest growth rate during the forecast period 2021-2026.

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https://www.industryarc.com/Report/7482/flavonoids-market-analysis.html

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