Phytogenic Feed Additives Market
Global Industry Analysis (2017-2020), Growth Trends and Market Forecast (2021-2025)
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Concerns About Cattle Health Raises Demand for Phytogenic Feed Additives
Livestock rearing has been undergoing constant improvements in 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. There are primarily four families of phytogenics, namely, saponins, flavonoids, essential oils, and tannins. Phytogenic feed additives are sometimes incorporated with supplements, which positively affect 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 global phytogenic feed additives market. It’s been analyzed 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 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 the phytogenic feed additives demand during the forecast period. However, the absence of patents, security laws, and regulatory framework across different nations has led to duplication of feed additives. In order to grab the opportunity, local manufacturers are offering inferior quality products. These factors are expected to restrain market growth during the forecast period.
Essential Oil Segment to Witness Significant Proliferation as It Lends Taste and Health Benefits
Of all the products type segment, the essential oil segment had a significant value share in 2019. Essential oil is primarily considered as a natural and plant-based ingredient, rich in medicinal properties. It is best known to boost immunity and gut health. Further, it also lends a natural flavour in feed additive products. Altogether these factors are contributing to the segment growth in the near future.
Poultry is expected to account for the largest value share followed by the swine segment. Rise in the trade of pork coupled with increased safety concerns of people towards healthy meat consumption is expected to support the segment growth over the forecast period.
Demand for Organically Grown Meat Products Drives Demand Across Europe
Globally, Europe is expected to register highest value CAGR during the forecast period. The region is witnessing a higher uptake of phytogenic feed added substances primarily due to the 2006 EU prohibition on the utilization of antimicrobial substances as growth stimulators and the stringent regulatory framework regarding the use of synthetic feed additives.
Further, during the current scenario of COVID-19 consumers are more concerned about the consumption of meat products. They are seeking meat products that are grown as organically as possible, grass-fed predominantly, and free from any synthetic or GMO feed.
Thus, these factors are 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 U.S., Mexico, and Australia are expected to hold excellent opportunity pockets for phytogenic feed additives during the forecast period.
Global Phytogenic Feed Additives Market Competitive Landscape
The final study also includes market analysis of key players operating in the global phytogenic feed additives market. The key pointers covered for each player primarily includes company overview, key strategies, recent developments, product USP’s, and financial analysis such as revenue contribution to the market and region and details analysis about their product offerings.
Some of the major players considered 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. among others.