Feed Phytogenic Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Feed Phytogenic market in 2021?

The global Feed Phytogenic market is anticipated to have a growth rate of 4.2% CAGR from 2021 to 2026. The market is expected to reach a value of USD 1.2 billion by the end of 2026. The increasing demand for natural feed additives in the animal nutrition industry is a key factor driving the growth of the Feed Phytogenic market. Phytogenic feed additives are derived from plants and herbs, and they are known for their beneficial effects on animal health and performance.

COVID-19 Impact on the Feed Phytogenic Market

The COVID-19 pandemic has had a significant impact on the Feed Phytogenic market. The outbreak of the virus led to disruptions in the supply chain, causing delays in the transportation of feed additives. This resulted in a temporary slowdown in the market growth. However, as the situation improved and businesses adapted to the new normal, the market started to recover. The demand for phytogenic feed additives increased as farmers and producers looked for natural alternatives to enhance animal health and immunity.

Feed Phytogenic Dynamics

The Feed Phytogenic market is driven by the growing preference for natural and organic feed additives among consumers. Consumers are becoming more conscious about the quality of food products, leading to an increased demand for phytogenic feed additives. Additionally, the rise in awareness about the benefits of phytogenic feed additives in improving animal health and performance is boosting market growth. The market is also witnessing advancements in research and development, leading to the introduction of innovative phytogenic products for animal nutrition.

Segments and Related Analysis

The Feed Phytogenic market can be segmented based on type, application, and region. By type, the market is segmented into essential oils, herbs & spices, oleoresins, and others. Based on application, the market is categorized into poultry, swine, ruminants, aquaculture, and others. Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The poultry segment is expected to dominate the market due to the high consumption of phytogenic feed additives in poultry production.

By Region Analysis

- North America: The North American Feed Phytogenic market is expected to witness steady growth due to the increasing adoption of natural feed additives in animal nutrition.

- Europe: Europe is projected to be a key market for Feed Phytogenics, driven by the stringent regulations on antibiotic use in livestock production.

- Asia Pacific: The Asia Pacific region is likely to experience significant growth in the Feed Phytogenic market, attributed to the rising demand for organic animal feed products.

- Latin America: Latin America is expected to show a promising growth rate in the Feed Phytogenic market, driven by the increasing awareness about the benefits of phytogenic feed additives.

- Middle East & Africa: The Middle East and Africa region are anticipated to witness growth in the market due to the expanding livestock industry and the adoption of natural feed additives.

Key Market Players and Competitive Landscape

The key players in the Feed Phytogenic market include Cargill, Inc., Delacon Biotechnik GmbH, DuPont, Kemin Industries, Inc., and Phytobiotics Futterzusatzstoffe GmbH. These companies are focusing on research and development activities to introduce innovative phytogenic products and strengthen their market presence. Strategic partnerships, mergers, and acquisitions are also common strategies adopted by key players to expand their product offerings and reach a wider customer base.

Recent Happenings in the Feed Phytogenic Market

- In April 2021, Delacon Biotechnik GmbH launched a new range of phytogenic feed additives for poultry to improve gut health and overall performance.

- In June 2021, Kemin Industries, Inc. introduced a natural solution for managing heat stress in livestock using phytogenic ingredients.

- In September 2021, Phytobiotics Futterzusatzstoffe GmbH partnered with a leading animal nutrition company to expand its market presence in the Asia Pacific region.

- In December 2021, DuPont unveiled a new line of plant-based feed additives to promote animal health and growth in a sustainable manner.