Press release
Phytogenic Feed Additives Market is expected to grow at a CAGR of 7.7% during the forecasted period | Evolve Business Intelligence
• The global Phytogenic Feed Additives Market size was valued at USD 864 million in 2022 growing at a CAGR of 7.7% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033
As per the study initiated by Evolve Business Intelligence, the global Phytogenic Feed Additives Market size accounted for USD 864 million in 2022, growing at a CAGR of 7.7% from 2023 to 2033.The phytogenic feed additives market involves natural plant-derived substances added to animal feed to enhance growth performance, improve feed efficiency, and promote overall health. These additives typically include herbs, spices, and essential oils with bioactive compounds. The market is driven by the growing demand for natural and sustainable alternatives to traditional feed additives, as well as increased focus on animal welfare. Phytogenic feed additives are known for their antimicrobial and anti-inflammatory properties, contributing to improved digestion and immune function in livestock.
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The phytogenic feed additives market is propelled by a rising preference for natural and sustainable alternatives in animal nutrition. Growing concerns about antibiotic resistance and a focus on animal welfare drive the demand for these plant-derived additives. With recognized benefits in improving feed efficiency and supporting animal health, phytogenic feed additives find increasing adoption in the livestock industry.
Key Players
Some of the major Phytogenic Feed Additives Market players holding high market shares include BIOMIN Holding GmbH, Delacon Biotechnik GmbH, DOSTOFARM GmbH, IGUSOL S.A. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Miavit GmbH, NOR-FEED, Pancosma, Phutosynthese, Phytobiotics Futterzusatzstoffe GmbH and Silvateam S.p.A.
Report Description: https://evolvebi.com/report/phytogenic-feed-additives-market-analysis/
Segmental Analysis
Global Phytogenic Feed Additives Market By Function (Performance Enhancers, Antimicrobial Properties, Palatability Enhancers, Others), By Source (Herbs & Spices, Flowers, Fruits & Vegetables, Others), By Type (Essential Oils, Flavonoids, Saponins, Oleoresins, Mucilage, Tannins, Bitter Substances, Pungent Substances, Others), By Livestock (Poultry, Swine, Ruminants, Aquatic Animals, Others)
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
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