The Global Phytogenic Feed Additives Market size is expected to reach USD 1,371 Million by 2028 at a CAGR of 7.7%, according to a new report by Reports and Data. Phytogenics are basically the natural or non-antibiotic growth promoters derived from plants. They are highly used as feed additives, derived from vegetables fruits, herbs spices, or flowers. Various phytogenic feed additives are used in livestock feed including saponins, flavonoids, tannins, essential oils, oleoresins, pungent substances, mucilages, and bitter substances.
In the last years, the feed production globally has increased at an exponential rate, primarily driven by the rising production and consumption of livestock. Another crucial factor influencing the feed production’s volume is the growing commercialization of livestock practices, especially in developing economies. Livestock growers are gaining awareness about the health issues of animals, owing to low supply of nutrient and reduced metabolism rate, and thus, raising concerns regarding the quality of final animal and dairy products.
The growth of phytogenic feed additives industry is attributed to the changing consumer’s opinion towards the poultry product’s quality. Consumers are gaining awareness about the poultry products’ quality which can be beneficial for their health. Poultry farms, for retaining their large customer base and to make profits, are adopting different phytogenic feed additives, exhibiting the potential to improve the health of poultry. Therefore, this factor is contributing significantly to the sector’s expansion.
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The Phytogenic Feed Additives market investigation report assesses the global market for the Phytogenic Feed Additives industry and provides revenue and capability forecasts for the projected period of 2020-2027. The factors that drive the industry's growth are highlighted in the report. The report divides the Phytogenic Feed Additives market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
Some of the Leading Market Players Are Listed Below:
- BIOMIN Holding GmbH (Austria),
- Delacon Biotechnik GmbH (Austria),
- Cargill, Incorporated (US),
- DuPont (US),
- Bluestar Adisseo Co., Ltd. (China),
- Natural Remedies (India).
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Phytogenic Feed Additives market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Phytogenic Feed Additives market.
The global Phytogenic Feed Additives market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation:
Market Segmentation based on Product Type:
- Essential oils
- Flavonoids
- Saponins
- Oleoresins
- Others
Market Segmentation based on Function:
- Performance enhancers
- Antimicrobial properties
- Palatability enhancers
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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