Feed Phytogenics Market: Global Product Intelligence, Industry Analysis, Size, Share, Growth, Trends and Forecast - 2024

The Feed Phytogenics Market’s segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR’s report also covers drivers and restraints in the feed phytogenics market.

Infinium Global Research’s report covers the annual growth of the Global feed phytogenics market. It also includes chapters on the Global feed phytogenics industry trends, geographic analysis, and competitive landscape.

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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.

Feed Phytogenics Market: Industry Insight

Feed phytogenics are plant-based feed additives utilized in animal nutrition. They are obtained from herbs, spices, and extracts such as essential oils. Phytogenic is mainly used for conventional and antibiotic-free animal nutrition.

Feed Phytogenics Market: Drivers and Restraints

The rising need for high-quality animal proteins and increasing demand to reduce feed cost is driving the feed phytogenics market. The potential benefits of using phytogenic in livestock nutrition are increased feed intake, increased growth performance and stimulation of digestion. Feed phytogenic also helps in improving reproductive parameters and feed efficiency that leads to higher profitability. In addition, the ban on several growth hormones favors the growth of the feed phytogenic market. however, low awareness about feed phytogenics and its benefits hampers the market growth. Furthermore, the increasing demand for meat and meat products creates growth opportunities for the feed phytogenics market.

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Feed Phytogenics Market: Segmentation

The report on global feed phytogenics market is segmented into type and livestock. The type segment is further bifurcated into essential oils, herbs & spices, oleoresins, and others. Among the types, essential oils segment holds the dominant share in the feed phytogenic market due to their efficiency to destroy bacteria and enhance performance in animals. The livestock segment is further bifurcated into swine, ruminants, aquatic animals, and poultry. Among the livestock segment, the poultry segment holds the dominant share in the feed phytogenic market as feed phytogenics are being used widely instead of growth hormones in poultry.

Feed Phytogenics Market: Regional Insight

The Asia Pacific holds the largest share in the feed phytogenics market. The rapid growth in the livestock sector in the Asia-Pacific region over the last couple of decades has contributed to revenue growth in the feed phytogenics market. In addition, livestock plays a vital role in economic development and play a major role in the development of the emerging Asian countries that drives the growth of the feed phytogenics market in the Asia Pacific region. North America regions hold the second largest share due to the stringent regulations on the use of steroid growth hormones and the rising adoption of natural growth promoters in the livestock industry.

Feed Phytogenics Market: Competitive Analysis

The feed phytogenics market is an emerging market. The major players in the feed phytogenics market include Phytobiotics Futterzusatzstoffe GmbH, DowDuPont, Pancosma, Cargill, Dostofarm GmbH, Silvateam S.P.A., Synthite Industries Ltd., Natural Remedies Pvt. Ltd., Nutricare Life Sciences Limited, and Biomin GmbH. Companies in the feed phytogenics market are focusing on expanding their business in untapped regions. In 2019, Delacon, a phytogenic feed additive specialist has expanded its team in Singapore and Asia.

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