Press release
Feed Phytogenic Market Is Estimated to Grow at a CAGR of 8.5% During Forecast Period 2019 to 2024: Biomin Holding GmbH, Cargill Inc, DowDuPont, Kemin Industries Inc, Phytobiotics Futterzusatzstoffe GmbH
Feed Phytogenic Market
The Global Feed Phytogenic Market 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 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 phytogenic 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 must comply with strict regulations, especially in Europe and North America. Performance enhancing feed phytogenic are known to be more effective than their artificial counterparts, thus, contributing to market growth.
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Market USP
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.
Segmentation
By Type
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.
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 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 the growth of the segment. Latin America and South Asia have small piggeries, but with great potential which, if realized, will further fuel growth.
Poultry: 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 phytogenics 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. Feed phytogenics aid in maintaining the growth and health of fish.
Others: Pets and equine are covered under this heading. The market segments are relatively small but provide excellent returns on investment.
By Action
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. The segment is expected to register the higher CAGR during the forecast period.
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.
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By Region
North America: The fastest-growing regional market
Europe
Asia-Pacific: The largest regional market
Rest of the World
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)
Regional Analysis
North America: The presence of large-scale ruminant farms and piggeries make this the second-largest regional market.
Europe: A very high per capita consumption of livestock products and a focus on livestock healthcare makes Europe the third-largest market.
Asia-Pacific: The largest regional market due to the high ruminant and swine population with a very robust aquaculture industry.
Rest of the World: Boasting of some of the highest meat and dairy consumption per capita, the regional market has tremendous growth potential.
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