Feed Phytogenic Market Opportunities, Current Trends, Share, Industry Overview, Forecast to 2024

Market Synopsis

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 Market are known to be more effective than their artificial counterparts, thus, contributing to market growth.

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.
  • 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.
  • 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.

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.
  • 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)

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