(EMAILWIRE.COM, August 09, 2024 ) The global phytogenic feed additives market is estimated to be valued at USD 864 million in 2022. It is projected to reach USD 1,223 million by 2027, with a CAGR of 7.2%, in terms of value between 2022 and 2027. The phytogenics cater to a large number of livestock animals such as poultry, swine, ruminants, aquatic animals, and other animals including pets and equines and their demand have been increasing across the various feed industries in recent years owing to the rise in demand for natural additives to enhance livestock performance.
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Drivers and Opportunities
Drivers: Rise in demand for natural additives after the ban on AGP to enhance livestock performance
Diseases in livestock lead to a loss of production & profit, disruption in the economy & international trade, and risk to human health. With changing lifestyles, improved health awareness, and food safety concerns increasing worldwide, demand for quality meat products has increased. Human health is threatened by livestock diseases in two formszoonotic and foodborne diseases. To reduce the outbreak of diseases and increase the overall health of the livestock, livestock farmers are opting for natural additives in animal feed, such as phytogenic feed additives. After the EU banned antibiotics in 2006, there was a surge in demand for natural growth promoters and additives that help in nutrient sparing, improved final product, and ease of use in animal feed. Most of the natural additives currently being used in feed, such as organic acids, prebiotics, and probiotics, help in the overall development of the livestock. Organic acids such as fumaric acid, propionic acid, lactic acid, and sorbic acid, reduce the colonization of pathogenic bacteria and toxic metabolites through acidification of diet. Prebiotics and probiotics primarily help in the growth of indigenous gastrointestinal bacteria with a different mode of action. These additives also increase animal feed intake, help with immunity development, and are sustainable and environmentally friendly.
Opportunities: Rise in demand for phytogenic feed additives in poultry, swine and pet feeds
Additives play a very important role in enhancing the feed quality for different livestock. Poultry and swine are types of meat whose demand is growing drastically in the market. These meats have their application in the processed meat and food industry. Further, it is also observed that poultry and swine are prone to animal diseases, due to which their consumption may fluctuate. On the other hand, the trend of keeping pets is also gaining pace. Pet owners remain very sensitive and concerned about the quality, safety, and source of the ingredients involved in manufacturing their pets food. Considering these trends, livestock farmers are opting for natural additives like phytogenic feed additives to enhance the nutritional value of the feed and overall livestock development. Even companies are developing innovative feed products from naturally sourced ingredients, such as plants and microbes. On the other hand, pet food contains phytogenic additives, which are safe and positively affect the overall health of the pet animal. The increase in the pet population, along with concerns of pet owners for pet health and nutrition, would persuade many feeds additive players to launch phytogenic feed additives in the pet food segment. Silvateam SPA (Italy) offers phytogenic feed additives for pet food.
By type, oleoresins is projected to witness significant growth rate during the forecast period
Based on type, oleoresins account for the second-fastest growing segment in the phytogenic feed additives market. The consumption of oleoresins as a phytogenic feed additive is increasing all over the globe, due to their desirable characteristics of being able to impart color, flavor and aroma to the livestock feed which enhances the palatability of the feed. The oleoresins are likely to witness significant growth over the forecasted period as their consumption and acceptance continues to rise over the forecasted period.
By livestock, swine segment accounts for the second-largest market share in the phytogenic feed additives market
Based on livestock, swine accounts for the second-largest segment in the phytogenic feed additives market. The consumption of swine meat or pork has increased significantly in recent years which has contributed to the growth and application of feed phytogenic products in swine. Phytogenic feed intakes are used in swine for a variety of reasons such as increasing their feed intake, improving their gut function and increasing their resistance to various diseases which have contributed significantly to their market growth in recent years.
By source, the fruits & vegetables segment account for significant market share in the phytogenic feed additives market
By source, the fruits & vegetables account for the second-largest segment in the phytogenic feed additives market. Fruit & vegetables waste are particularly used in phytogenic feed additives for sustainability and it also addresses the issues of waste recycling and waste reduction. Furthermore, fruits & vegetables such as berries, citrus fruits and onions are used as sources to extract essential oils, flavonoids and saponins and their oils are considered an excellent phytogenic additive which propels their demand and market growth in the industry.
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Europe accounted for the fastest growing region for the phytogenic feed additives market
Europe accounted for the fastest growing region for the phytogenic feed additives market. The rise in awareness regarding health and wellness of livestock and ban on antibiotic growth promoters have propelled the market growth for phytogenic feed additives in the region. Furthermore, the European market is likely to witness significant growth due to several reasons such as an increase in livestock production such as cattle, poultry, and swine, easy availability of raw materials, and due to the presence of major feed manufacturing companies in the region which are likely to contribute towards the growth of phytogenic feed additives in the region over the forecasted period.
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MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162036047
Drivers and Opportunities
Drivers: Rise in demand for natural additives after the ban on AGP to enhance livestock performance
Diseases in livestock lead to a loss of production & profit, disruption in the economy & international trade, and risk to human health. With changing lifestyles, improved health awareness, and food safety concerns increasing worldwide, demand for quality meat products has increased. Human health is threatened by livestock diseases in two formszoonotic and foodborne diseases. To reduce the outbreak of diseases and increase the overall health of the livestock, livestock farmers are opting for natural additives in animal feed, such as phytogenic feed additives. After the EU banned antibiotics in 2006, there was a surge in demand for natural growth promoters and additives that help in nutrient sparing, improved final product, and ease of use in animal feed. Most of the natural additives currently being used in feed, such as organic acids, prebiotics, and probiotics, help in the overall development of the livestock. Organic acids such as fumaric acid, propionic acid, lactic acid, and sorbic acid, reduce the colonization of pathogenic bacteria and toxic metabolites through acidification of diet. Prebiotics and probiotics primarily help in the growth of indigenous gastrointestinal bacteria with a different mode of action. These additives also increase animal feed intake, help with immunity development, and are sustainable and environmentally friendly.
Opportunities: Rise in demand for phytogenic feed additives in poultry, swine and pet feeds
Additives play a very important role in enhancing the feed quality for different livestock. Poultry and swine are types of meat whose demand is growing drastically in the market. These meats have their application in the processed meat and food industry. Further, it is also observed that poultry and swine are prone to animal diseases, due to which their consumption may fluctuate. On the other hand, the trend of keeping pets is also gaining pace. Pet owners remain very sensitive and concerned about the quality, safety, and source of the ingredients involved in manufacturing their pets food. Considering these trends, livestock farmers are opting for natural additives like phytogenic feed additives to enhance the nutritional value of the feed and overall livestock development. Even companies are developing innovative feed products from naturally sourced ingredients, such as plants and microbes. On the other hand, pet food contains phytogenic additives, which are safe and positively affect the overall health of the pet animal. The increase in the pet population, along with concerns of pet owners for pet health and nutrition, would persuade many feeds additive players to launch phytogenic feed additives in the pet food segment. Silvateam SPA (Italy) offers phytogenic feed additives for pet food.
By type, oleoresins is projected to witness significant growth rate during the forecast period
Based on type, oleoresins account for the second-fastest growing segment in the phytogenic feed additives market. The consumption of oleoresins as a phytogenic feed additive is increasing all over the globe, due to their desirable characteristics of being able to impart color, flavor and aroma to the livestock feed which enhances the palatability of the feed. The oleoresins are likely to witness significant growth over the forecasted period as their consumption and acceptance continues to rise over the forecasted period.
By livestock, swine segment accounts for the second-largest market share in the phytogenic feed additives market
Based on livestock, swine accounts for the second-largest segment in the phytogenic feed additives market. The consumption of swine meat or pork has increased significantly in recent years which has contributed to the growth and application of feed phytogenic products in swine. Phytogenic feed intakes are used in swine for a variety of reasons such as increasing their feed intake, improving their gut function and increasing their resistance to various diseases which have contributed significantly to their market growth in recent years.
By source, the fruits & vegetables segment account for significant market share in the phytogenic feed additives market
By source, the fruits & vegetables account for the second-largest segment in the phytogenic feed additives market. Fruit & vegetables waste are particularly used in phytogenic feed additives for sustainability and it also addresses the issues of waste recycling and waste reduction. Furthermore, fruits & vegetables such as berries, citrus fruits and onions are used as sources to extract essential oils, flavonoids and saponins and their oils are considered an excellent phytogenic additive which propels their demand and market growth in the industry.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=162036047
Europe accounted for the fastest growing region for the phytogenic feed additives market
Europe accounted for the fastest growing region for the phytogenic feed additives market. The rise in awareness regarding health and wellness of livestock and ban on antibiotic growth promoters have propelled the market growth for phytogenic feed additives in the region. Furthermore, the European market is likely to witness significant growth due to several reasons such as an increase in livestock production such as cattle, poultry, and swine, easy availability of raw materials, and due to the presence of major feed manufacturing companies in the region which are likely to contribute towards the growth of phytogenic feed additives in the region over the forecasted period.
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
