Phytogenic Feed Additives Market Key Players, Livestock, Source, Form, Function, Packaging, Growth Rate, Size, Share and Forecasts to 2027

The global phytogenic feed additives market is estimated to be valued at USD 864 million in 2022. It is projected to reach USD 1,223 million by 2027, with a CAGR of 7.2%, in terms of value between 2022 and 2027. The market is gaining momentum as phytogenic feed additives products continue to find increased applications across various livestock species such as poultry, swine, ruminants, aquatic animals, and other livestock such as equines and pets as the demand for natural additives are gaining significant traction in the industry, especially after the ban imposed on the antibiotic growth promoters.

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Additionally, the rising innovation in the phytogenic feed additives markets and technological advancements which are enhancing the efficiency of phytogenic feed additives have contributed to the growth of the market in recent years.

"By type, the essential oils segment occupies the highest market share during the forecast period."
Based on type, the essential oils segment is estimated to account for the largest market share and fastest growing segment, in terms of value, during the forecasted period. The increasing use of essential oils as phytogenic feed additives because of their cost-effectiveness and positive perception of being considered as a safe alternative to antibiotic growth promoters are likely to contribute to their growth over the forecasted period.

"By livestock, the poultry segment is forecasted to account for the fastest growing segment during the forecasted period."
Based on livestock, the poultry segment accounts for the largest and fastest-growing segment in terms of value during the forecast period. Phytogenic feed additives are extensively used in poultry feed to enhance muscle growth, laying capacity and overall development of the poultry birds. Their applications have further witnessed an upsurge since the ban imposed on antibiotic growth promoters in the poultry segment. Due to their rising applications in the poultry segment, they are likely to witness the fastest growth among all other livestock species in phytogenic feed additives market.

By source, the herbs & spices is expected to retain its position as the dominant segment over the forecast period."
Based on source, the herbs & spices segment is expected to account for the largest and fastest-growing segment over the forecast period because of the increasing demand of herbs & spices in phytogenic feed additives owing to their medicinal properties and flavor appeal. Their desirable characteristics of promoting healthy livestock digestion, possessing anti-inflammatory properties and acting as antimicrobials, antioxidants and antiviral substances when added as phytogenic feed additives are likely to significantly contribute to their demand over the forecasted period.

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By form, the liquid segment is expected to retain its second over the forecast period."
Based on form, the liquid segment is likely to account for the second dominant form. The liquid phytogenic feed additives provide a range of benefits such as increased feed consumption, decreased feed wastage and provides uniformity to the final product along with providing advantages of no-dust emissions and no risk of dust explosions that are likely to contribute to their market growth and demand over the forecasted period.

"By function, the performance enhancers segment occupies the highest market share during the forecast period."
Based on function, the performance enhancers segment is estimated to account for the largest market share and fastest-growing segment, in terms of value, during the forecasted period. The performance enhancers provide a range of desirable characteristics such as stimulating feed intake and endogenous secretion that enhances livestock performance and production. Performance enhancers also aid in stimulating digestive enzymes such as protease, lipase and amylase which strongly contributes to their market growth and demand.

"The Europe region is the fastest growing market for the phytogenic feed additives market during the forecast period"
The Europe region is expected to witness the highest growth rate during the forecasted period. The region's significant growth rate is attributed to a variety of reasons such as an increase in livestock production such as swine, poultry and cattle, easy availability of raw materials for phytogenic feed additives and reform in agricultural subsidies. The region's growth has also been bolstered due to the presence of a significant number of major feed manufacturing companies in the region. Poland, one of the European countries, also emerged as one of the leading poultry producers in Europe, which is also likely to significantly contribute towards the demand of phytogenic feed additives in the region over the forecasted period.

Break-up of Primaries
• By Company Type: Tier 1- 30%, Tier 2 - 45% and Tier 3- 25%
• By Designation: Executive- 25%, C-Level-25%, and Managers-50%
• By Region: Asia Pacific - 40%, Europe - 25%, North America-25%, and RoW- 10%

Leading players profiled in this report include the following:
• Cargill (US)
• ADM (US)
• DuPont (US)
• DSM N.V. (Netherlands)
• Land O' Lakes (US)
• Adisseo (France)
• Nutreco (Netherlands)
• Kemin Industries (US)
• Natural Remedies (India)
• Nor Feed (France)

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Research Coverage:
This report segments the phytogenic feed additives market on the basis of type, livestock, source, form, function, packaging (qualitative) and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, pricing insights, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the phytogenic feed additives market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
• To get a comprehensive overview of the phytogenic feed additives market
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights into the major countries/regions, in which the phytogenic feed additives market flourishing

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