Feed Phytogenics Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Oleoresins, Herbs And Spices, Essential Oils, Others), By Functions (Palatability Enhancers, Antioxidants, Performance Enhancers, Others), By Livestock (Swine, Poultry, Ruminants, Others), And By Geography - Forecasts From 2022 To 2027

The feed phytogenic market is projected to grow at a CAGR of 7.46% during the forecast period to reach US$1,246.361 million by 2027, from US$753.363 million in 2020.

Phytogenic feed additives belong to a class of feed additives that include products such as herbs, spices, and essential oil to enhance the level of nutrition present in animal feed. Phytogenics are bioactive compounds obtained from plants, which feature a complete range of plant secondary metabolites. They comprise a wide range of diverse classes of substances, which provide a wide range of action options. Further, the increasing adoption of animal companions coupled with the growing incidence of animal diseases fuels the growth of the market. Growth in the livestock population and increasing initiatives by the government along with the involvement of animal associations widen the market growth opportunities. Moreover, there is also a growing awareness of animal health with works as the key driver for the growth in the market. The feed phytogenic market is segmented into type, function, livestock, and geography.

Growing global livestock production is the major driver of the global feed phytogenic market.

Rising per capita meat consumption is encouraging farmers to increase the production of livestock including poultry and swine which, in turn, is boosting the demand for feed phytogenic market. Growing demand for organic meat and livestock products will further contribute to the growth of the feed phytogenic market during the forecast period. 

Furthermore, the market for feed phytogenic is being driven by rising feed production because of the accelerated efficiency, performance, and health-related advantages of phytogenic in animals. The need for botany-based feed additives is being driven further by the demand for an increased feed conversion ratio and antibiotic-free additions from an increasing number of livestock farmers. For instance, as per the International Feed Industry Federation, global compound feed production is estimated over one billion in 2020. The need for superior quality meat and dairy products from health enthusiasts and the increasing popularity of natural ingredients in pet food are further leading producers to capture the untapped profits in the phytogenic industry. Furthermore, global demand for large quantities of feed and feed additives has led to substantial scientific investigation in the field, which is expected to boost the feed phytogenic market as a whole during the forecast period. Modern feed additives are now frequently employed as a crucial instrument to raise animal production and wellness. Among these, phytogenic feed additives are being used more frequently. As a result, more goods are being introduced to the market.

Regional Analysis

Geographically, Europe holds a significant market share on account of the ban on the use of antibiotics, a growing focus on developing alternatives for chemical feed additives, and the high demand for safe and hygienic meat in EU countries. Moreover, the European Commission’s Directorate General for Health and Food Safety has established important rules for meat and meat products. Additionally, the fundamental need of all EU food laws is traceability. The capacity to track food, feed, and materials through all phases of production, processing, and distribution is referred to as traceability. henceforth, the high demand for quality meat is the driving factor for the growth of the feed phytogenic market in the EU region. Furthermore, the feed phytogenic business has great potential for growth in the Asia-Pacific region. The market for feed phytogenic in the Asia-Pacific region is primarily driven by a replacement strategy for antibiotic growth promoters and the lack of toxic residues in plant-based additives.

Key Development

• In June 2022, Cargill announced the signing of a binding agreement to acquire Delacon, a globally leading expert in plant-based phytogenic additives. This joint initiative is aimed to create a leading plant-based phytogenic feed additives business for healthier animal nutrition. The acquisition combines Delacon's innovative know-how and market experience with Cargill's extensive global network and deep expertise in animal nutrition technologies.
• In June 2021, EW nutrition launched phytogenic solutions for respiratory support in Philippines. Grippozon, which has already found success in a number of international markets, helps farm animals avoid respiratory problems and lessens the likelihood that viral problems could turn into bacterial pneumonia.

COVID-19 Impact on the Feed Phytogenics Market

The pandemic had a significant impact on the Feed photogenic market. The pandemic had affected various economies and industries such as the food industry in different countries owing to the pandemic restrictions, frequent lockdowns, and slowdowns of business functions. The manufacture and supply of phytogenic feed additives were temporarily impacted by reasons such as the manpower shortage, trade restrictions on a global scale, and the decreased consumption of cattle goods during the pandemic. In order to fill supply gaps that were generated in the local and international markets as a result of supply chain obstacles, enterprises focused on concentrating on increasing their production capacity post-COVID-19 lockout, according to an Animal HealthCare Centre, USDA research. The pandemic initially had a detrimental effect on the feed phytogenic industry, but businesses are making recovery in the post-pandemic era.

Feed Phytogenics Market Scope:

Segmentation

• By Type
  • Oleoresins
  • Herbs and Spices
  • Essential oils
  • Others
• By Functions
  • Palatability Enhancers
  • Antioxidants
  • Performance Enhancers
  • Others
• By Livestock
  • Swine
  • Poultry
  • Ruminants
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global feed phytogenics market?
A1. Feed Phytogenics Market was valued at US$753.363 million in 2020.

Q2. What are the growth prospects for the feed phytogenics market?
A2. The global feed phytogenic market is projected to grow at a CAGR of 7.46% during the forecast period.

Q3. What will be the feed phytogenics market size by 2027?
A3. The feed phytogenics market is projected to reach a total market size of US$1,246.361 million by 2027.

Q4. What factors are anticipated to drive the feed phytogenics market growth?
A4. Growing global livestock production is the major driver of global feed phytogenics market.

Q5. Which region holds the largest market share in the feed phytogenics market?
A5. Geographically, Europe holds a significant market share on account of the ban on the use of antibiotics, a growing focus on developing alternatives for chemical feed additives, and high demand for safe and hygienic meat in EU countries.