Global Phytogenic Feed Additives Market

Phytogenic Feed Additives Market Size, Share, Growth Analysis, By Type(Essential oils, Flavonoids, Oleoresins, Saponins), By Livestock(Poultry [Broilers, Layers, Turkey, Others]), By Form(Dry, Liquid), By Source(Herbs & spices, Fruits & vegetables, Flowers), By Function(Performance enhancers, Antimicrobial properties, Palatability enhancers, Others), By Packaging(Flexible, Rigid, Others), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2025-2032


Report ID: SQMIG30C2077 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 62 | Figures: 75

Phytogenic Feed Additives Market Dynamics

Phytogenic Feed Additives Market Drivers

Increasing demand for natural and organic food products

  • The demand for natural and organic food products is increasing globally, which is driving the demand for phytogenic feed additives as they are natural and organic in nature.

Ban on antibiotics in animal feed

  • Several countries have banned the use of antibiotics in animal feed due to the growing concern over antibiotic resistance. This has led to the increased use of phytogenic feed additives as an alternative to antibiotics.

Rising awareness about animal health

  • Consumers are becoming more aware of animal health and welfare, which is driving the demand for natural and organic feed additives that can improve the health and well-being of animals.

Increase in animal diseases

  • The incidence of animal diseases such as avian flu, swine flu, and foot-and-mouth disease is increasing globally, which is driving the demand for phytogenic feed additives as they have antimicrobial properties and can help prevent the spread of these diseases.

Growing focus on animal nutrition

  • There is a growing focus on animal nutrition, and the use of phytogenic feed additives can improve the nutritional quality of animal feed, which is driving their demand.

Phytogenic Feed Additives Market Restraints

High cost of phytogenic feed additives

  • Phytogenic feed additives are often more expensive than traditional feed additives, which can limit their adoption in certain markets or by certain types of producers.

Limited research and development

  • Although there has been significant research on phytogenic feed additives in recent years, there is still a limited understanding of their long-term efficacy and safety compared to traditional feed additives, which may limit adoption by some producers.

Lack of regulatory frameworks

  • There is a lack of consistent regulatory frameworks governing the use of phytogenic feed additives, which can limit their adoption in certain markets and create uncertainty for producers.

Supply chain challenges

  • The sourcing and processing of phytogenic feed additives can be challenging due to the variability and seasonality of many plant-based ingredients, which can create supply chain challenges and limit availability.

Limited awareness and education

  • Some producers may not be aware of the benefits of phytogenic feed additives or how to properly incorporate them into animal diets, which can limit adoption and effectiveness.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Phytogenic Feed Additives Market size was valued at USD 867.07 million in 2019 and is poised to grow from USD 940 million in 2023 to USD 1780 million by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The Global Phytogenic Feed Additives Market was highly competitive, with a number of established and emerging players competing for market share. Overall, the global phytogenic feed additives market was characterized by intense competition, with companies investing in research and development to create innovative products and solutions to meet the growing demand for natural and sustainable animal feed solutions. 'Cargill, Inc.', 'DuPont de Nemours, Inc.', 'Archer Daniels Midland Company', 'Kemin Industries, Inc.', 'BIOMIN Holding GmbH', 'Phytobiotics Futterzusatzstoffe GmbH', 'Pancosma S.A.', 'Delacon Biotechnik GmbH', 'Alltech, Inc.', 'Nutreco N.V.', 'Perstorp Holding AB', 'Chr. Hansen Holding A/S', 'Danisco Animal Nutrition', 'BioResource International, Inc.', 'Nor-Feed Sud SAS', 'Synthite Industries Ltd.', 'Pure Green, Inc.', 'Phytoceuticals International AG', 'Lallemand, Inc.', 'Natural Remedies Pvt. Ltd.'

The demand for natural and organic food products is increasing globally, which is driving the demand for phytogenic feed additives as they are natural and organic in nature.

Rising demand for meat and dairy products: The increasing population and rising disposable incomes have led to an increase in demand for meat and dairy products, which in turn has increased the demand for phytogenic feed additives. These additives are used to enhance the growth and productivity of livestock and improve the quality of meat and dairy products.

The Asia Pacific region is the largest and fastest-growing market for phytogenic feed additives globally. This growth is attributed to several factors, including the increasing demand for meat and dairy products, the growing concern for animal health and welfare, and the rise in consumer awareness about the benefits of using natural and organic feed additives. China is the largest market for phytogenic feed additives in the Asia Pacific region, due to the presence of a large number of feed manufacturers and livestock producers in the country. The Chinese government's focus on improving animal health and productivity is also driving the growth of the market in the country. India is another significant market in the region, owing to the increasing demand for meat and dairy products in the country, and the government's initiatives to improve animal health and welfare. Other countries such as Japan, South Korea, and Australia are also witnessing significant growth in the phytogenic feed additives market. The rising awareness about the benefits of using natural and organic feed additives, and the increasing demand for high-quality animal products in these countries, are driving the growth of the market. In conclusion, the Asia Pacific region is expected to continue to dominate the global phytogenic feed additives market during the forecast period, owing to the increasing demand for meat and dairy products, the growing awareness about the benefits of using natural and organic feed additives, and the presence of several key players in the region.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Phytogenic Feed Additives Market

Report ID: SQMIG30C2077

$5,300
BUY NOW GET FREE SAMPLE