Phytogenic Feed Additives Market Scope
Phytogenic Feed Additives are the plant-driven product which is used in feeding and potentially improving poultry performance. Apart from having antimicrobial motion, these provide anti-oxidative effects and promote growth in poultry. It comprises both herbs and plant derivatives. Increasing awareness regarding health concerns makes phytogenic feed additives an important choice for every individual involved in the poultry business. The rise in demand for poultry products from consumers coupled with improving poultry health will drive the market for phytogenic feed additives.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Delacon (Austria), Biomin (Austria), Cargill (United States), DuPont (United States), Adisseo (China), Dostofarm (Germany), Phytobiotics Futterzusatzstoffe GmbH (Germany), Pancosma (Switzerland), A&A Pharmachem Inc. (Canada) and Kemin Industries (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Phytogenic Feed Additives market throughout the predicted period.
Delacon (Austria), Biomin (Austria), Cargill (United States), DuPont (United States), Adisseo (China), Dostofarm (Germany), Phytobiotics Futterzusatzstoffe GmbH (Germany), Pancosma (Switzerland), A&A Pharmachem Inc. (Canada) and Kemin Industries (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Phytogenic Feed Additives market by Type , by Application (Poultry, Swine, Ruminant, Aquatic, Equine and Others) and Region with country level break-up.
On the basis of geography, the market of Phytogenic Feed Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In June 2023, Animal health and nutrition giant Alltech acquires German phytogenics company Kemin Industries for an undisclosed sum. This acquisition brings together two leading players in the animal feed industry and is expected to accelerate innovation in phytogenics.
In October 2023, Delacon, a leading Austrian manufacturer of phytogenics, announced a strategic partnership with Kemin Industries, a global animal health and nutrition company, to expand their reach in the Asia Pacific market.
Influencing Trend:
Increasing Advancements in the Feed Industry
Market Growth Drivers:
Increased Demand for Livestock Products, Rising Awareness about Animal Health & Feed Quality, Ban on Antibiotics as Growth Promoters and Health Benefits of Phytogenics as an Additive
Challenges:
Low Awareness about the Usage of Phytogenics in the Feed Industry and Lack of Awareness about Product Benefit
Restraints:
High Cost of Natural Feed Additives and Complex Composition of Phytogenic Compounds
Opportunities:
Increasing Focus on Untapped and Emerging Markets
Key Target Audience
Feed manufacturers, Feed product distributors, Essential oil manufacturers and vendors, Herb & spice suppliers, Feed additive manufacturers, R&D institutes and Regulatory bodies & government agencies