Market Synopsis
Global Feed Phytogenic Market is expected to reach USD 1.04 Billion by 2024 at a CAGR of 8.5%. Feed phytogenic are currently used for all types of livestock, including pets, due to their excellent medicinal, preservative, and aromatic properties. This market has the potential to eventually overtake the artificial feed additive market as phytogenic offer the same properties as artificial additives with the added benefits of being eco-friendly and having no adverse side effects on the livestock.
Currently, the palatability enhancers segment is larger as these additives are not subject to stringent regulations. Performance enhancing feed phytogenic must comply with strict regulations, especially in Europe and North America. Performance enhancing Feed Phytogenic Market are known to be more effective than their artificial counterparts, thus, contributing to market growth.
Segmentation
By Type
Essential Oils: The largest and fastest-growing market segment. Essential oils find applicability in feed for all livestock and are especially beneficial in the large poultry feed industry. In the ruminant industry, the application of essential oils results in a marked reduction of nitrogen pollution by reducing ammonia emissions.
Herbs and Spices: The second-largest market share. Herbs and spices are used primarily to increase the palatability of feed while enhancing digestibility. Better digestion improves the overall health and weight of livestock.
By Livestock Type
Ruminant: The ruminant segment is the second largest. The large bovine population in Asia and the Americas are driving the growth of the segment. The emphasis on enhanced dairy production and the ban on antibiotics for livestock are further fueling growth.
Poultry: The largest market segment. With over 16 billion chickens in the world and many millions of ducks and pheasants, the poultry industry is the largest in the world. The use of feed phytogenics has shown to increase weight and reduce ammonia emissions of poultry, thereby enhancing health.
By Action
Performance Enhancers: The market segment with the most potential, it is currently underdeveloped due to heavy regulations and the need for research on the effects of performance enhancers.
Palatability Enhancers: The largest market segment, palatability enhancers ensure feed consumption, thereby reducing feed wastage and promoting animal growth. This segment is expected to grow due to limited regulations and low costs for manufacturing palatability enhancers.
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Key Players
- Cargill Inc. (US)
- DowDupont (US)
- Kemin Industries, Inc. (US)
- Phytosynthese (France)
- Silvateam S.P.A. (Italy)
- Delacon Biotechnik GmbH (Austria)
- Natural Remedies (India)
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