Market Overview
The Global Feed Phytogenic market size was valued at USD 636.5 million in 2018 and is expected to cross USD 1.04 Billion by 2024, registering an impressive CAGR of 8.5%.
Feed Phytogenic market size 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 on the livestock.
Currently, the palatability enhancers segment is larger as these additives are not subject to stringent regulations. Performance enhancing Feed Phytogenic market size must comply with strict regulations, especially in Europe and North America. Performance enhancing Feed Phytogenic market size are known to be more effective than their artificial counterparts, thus, contributing to market growth.
Key Players
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)
Natural Remedies (India)
Market Segmentation:
Essential Oils: The largest and fastest-growing market segment. Essential oils find applicability in feed for all livestock and are especially beneficial in the large poultry feed industry. In the ruminant industry, the application of essential oils results in a marked reduction of nitrogen pollution by reducing ammonia emissions. This aids in increasing the overall livestock weight as excess ammonia adversely affects the growth potential of animals.
Herbs and Spices: The second-largest market share. Herbs and spices are used primarily to increase the palatability of feed while enhancing digestibility. Better digestion improves the overall health and weight of livestock. Most herbs and spices have well known medicinal properties that offer secondary benefits to the animals.
Oleoresins: More resistant than essential oils and less soluble, oleoresins find increasing use in the poultry industry where they are shown to enhance liver function. They combine the effects of essential oils along with the properties of herbs and spices. The only limitation is the high manufacturing costs, which can be offset by mass production.
Others: Numerous plant extracts, as well as flavonoids and carotenoids, are covered in this category. A small market segment that capitalizes on by-products.
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Regional Analysis
North America: The fastest-growing regional market
Europe
Asia-Pacific: The largest regional market
Rest of the World
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