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Feed Phytogenic Market is Expanding Rapidly with Promising Growth Prospects
The feed phytogenic market is projected to be worth US$ 782.3 million in 2023. By 2033, the market is expected to surpass US$ 1,142.13 million. The demand for phytogenic feed is expected to expand at a CAGR of 3.5% during the forecast period.
The feed phytogenic industry is an emerging segment of the animal feed industry, which has witnessed significant growth over the past few years. Feed phytogenic products are plant-based additives. They are used in animal feed to enhance animal performance, gut health, immunity, and overall well-being. The increasing demand for animal protein and livestock production, along with the ban on antibiotic growth promoters in animal feed, has been driving the growth of the market.
Despite the growing demand for feed phytogenic products, the industry still faces certain challenges that act as restraints for market growth. The lack of awareness and knowledge regarding the usage and benefits of phytogenic feed additives. As well as the unavailability of standardized testing methods poses challenges for manufacturers in terms of product development and marketing.
The feed phytogenic industry offers several opportunities for market players to expand their business and increase their market share. The rising trend of natural and organic products is providing significant growth opportunities. Moreover, increasing awareness among consumers regarding the benefits of natural products is expected to drive the market.
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Key Takeaways from the Feed Phytogenic Market:
The United States feed phytogenic industry is expected to exceed US$ 175 million by 2033, owing to the industry’s increased demand for chicken meat.
Vietnam and Indonesia are two of the Asia Pacific region’s leading feed producers.
Rising animal health concerns and a taste for natural commodities are expected to propel the feed phytogenic business in Germany.
Brazil is expected to lead the feed phytogenic market because of the region’s enormous development potential.
Poultry is expected to continue to be the most appealing livestock propelling the sales of phytogenic feed.
The most popular type of plant-derived chemical utilized in cattle is essential oils.
Herbs and spices have recently attracted a lot of attention in the feed industry.
From Global Giants to Local Players: How Phytogenic Feed Industry is Standing Out with Unique Offerings
The feed phytogenic industry has a highly competitive landscape, with numerous global and local players operating in the market. Tier-1 and tier-2 players, including Biomin, Cargill, Delacon, DuPont, Kemin Industries, Adisseo, Pancosma, and Nutrex, dominate the global market. Due to their brand reputation, product differentiation, financial stability, strategic advances, and diverse regional presence. These companies have a global reach and varied product ranges, making it difficult for new players to enter the market and compete.
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In addition to these dominant players, there are also numerous local firms present in the phytogenic feed industry. These players have a strong understanding of the regional market and have built a loyal customer base. They often focus on producing low-cost products, which allows them to compete with the key players in the market.
The phytogenic feed industry is characterized by intense R&D activities, with companies continuously investing in the development of new and innovative products. This has led to several mergers, partnerships, and collaborations among players to leverage their collective strengths and expand their market presence.
Key Developments in the Feed Phytogenic Market:
Kemin Industries added VANNIXTM C4, an innovative phytogenic feed additive, to their range of chicken gut health products in January 2020 in North America.
In January 2020, Delacon Biotechnik GmbH launched BioStrong Comfort. A product designed to reduce the impact of heat stress during periods of high temperature and humidity. It contains antioxidants derived from plants in the United States and Canadian markets.
In 2017, Delacon and Cargill formed a partnership to provide better solutions for their customers. This included a minority stock investment from Cargill. After entering the Russian market in 2019, Delacon introduced its phytogenic products to China in March 2020.
In October 2020, Royal DSM, a multinational corporation specializing in nutrition and health acquired Erber Group for €980 million. To expand their phytogenic feed additive offerings.
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