Concerns About Cattle Health Raises Demand for Phytogenic Feed Additives
Livestock rearing has been undergoing constant improvements in the light of the high frequency of animal-related diseases and surging demand for meat. Determined to keep up with the soaring consumer demand, livestock owners are investing in the usage of phytogenic feed additives, which help in enhancing the final product. Phytogenic feed additives, also known as botanicals or phytobiotics are natural, plant-based bioactive molecules, which itself drives the growth of phytogenic feed additives market worldwide.
There are primarily four families of phytogenics, namely, saponins, flavonoids, essential oils, and tannins. Phytogenic feed additives are sometimes incorporated with supplements, which hold a positive effect on the feed quality by improving the health of the cattle. Rise in demand for raw and processed meat, poultry, and fish products is expected to fuel the performance of global phytogenic feed additives market. It has been analysed that approximately 3% of 1.2 billion tons of phytogenic additives used across the globe are plant-based ingredients. Better outcome of naturally sourced additives has given the phytogenic feed additives market an additional boost.
In addition, the recent trend of reducing the use of antibiotics, especially in the poultry diet, has put tremendous pressure on the industry to look for viable alternatives, which is further expected to boost demand for phytogenic feed additives during the forecast period. However, lack of standardisation prevails as a major challenge as the market has been experiencing the consequences of the absence of patents, strict security laws, and poor regulatory framework across different nations, i.e., duplication of feed additives. Several local manufacturers leverage these loopholes and offer inferior quality products, thereby hampering phytogenic feed additives market in long term.
Essential Oils to Witness Significant Proliferation on Account of Desirable Taste, and Health Benefits
Of all the product types, the essential oils segment had a significant value share in 2019. Essential oil is primarily considered as a natural, plant-based ingredient, rich in medicinal properties. It is best known to boost immunity and gut health. It also lends a natural flavour to feed additive products. These factors are collectively contributing to the growth of this segment. Research further reveals that the poultry will account for the largest value share in market, followed by the swine segment. Rise in the trade of pork, coupled with increased safety concerns of people toward healthy meat consumption, is expected to support the segment growth over the forecast period.
Demand for Organically Grown Meat Products Drives Demand Across Europe
Europe is expected to register the highest value CAGR during the forecast period. The region is witnessing higher uptake of phytogenic feed added substances primarily due to the 2006 EU prohibition on the utilisation of antimicrobial substances as growth stimulators, and the stringent regulatory framework regarding the use of synthetic feed additives. Further, amid the COVID-19 pandemic, consumer perceptions regarding the consumption of meat products also changed to a certain extent. A sizeable consumer clustre has thus been seeking meat products that are grown as organically as possible, prominently grass-fed, and free from any synthetic or GMO feed.
These factors are thus generating the need for feed additives derived from natural ingredients, forcing livestock manufacturers to opt for phytogenic feed additives. Major livestock producing countries such as China, the US, Mexico, and Australia are expected to hold excellent opportunity pockets for manufacturers of phytogenic feed additives during the forecast period.
Global Phytogenic Feed Additives Market – Competitive Landscape
The final study also includes the analysis of key players operating in global phytogenic feed additives market. The key pointers covered for each player primarily includes company overview, key strategies, recent developments, product USPs, and financial analysis such as revenue contribution to phytogenic feed additives market, regional footprint, and detailed analysis of their product offerings. Some of the major players that would be profiled in the report includes Cargill Incorporated, Tolsa, S.A, Miavit GmbH, A/B Technologies International, Inc., Delacon Biotechnik GmbH, Dostofarm GmbH, Phytobiotics Futterzusatzstoffe GmbH, BIOMIN Holding GmbH, Kemin Industries Inc., and Silvateam S.p.A.
The phytogenic feed additives market has been segmented as below:
Key Elements Included In The Study: Global Phytogenic Feed Additives Market
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