Global Feed Phytogenics Market Overview
The Global Feed phytogenics Market is experiencing significant growth, with a projected value of USD 842 million in 2022 and an expected valuation of USD 1809.45 million by 2033, at a CAGR of 7.95% over the forecast period of 2023-2033.
Market Size and Growth Forecast
- The market is expected to achieve exponential industrial growth, reaching USD 1809.45 million in 2033, with a CAGR of 7.95% over the forecast period of 2023-2033.
- The global feed phytogenics market is anticipated to surpass USD 1,142.13 million by 2033, with a CAGR of 3.5% during the forecast period.
- The global market for feed phytogenics is estimated to reach USD 1.3 billion by 2030, growing at a CAGR of 6.9% over the analysis period 2022-2030.
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Key Market Trends and Drivers
- Sustainability gains prominence in the animal feed industry, influencing the increasing concern for using organic products and the adoption of innovative technologies in feed phytogenic manufacturing.
- The growing meat market, particularly in the poultry industry, is a prime growth driver for the feed phytogenics market.
- Rising consumption of poultry meat and the demand for natural growth promoters are stimulating the feed phytogenics market.
Regional Growth Insights
- The North American feed phytogenic industry is anticipated to surpass USD 175 million by 2033, driven by increasing demand for chicken meat and consumer shift from beef to chicken meat.
- Vietnam and Indonesia’s feed phytogenic market share is growing, primarily driven by a replacement strategy for antibiotics and the focus on producing high-quality meat for consumers.
- Germany’s feed phytogenic industry is expected to be driven by rising animal health concerns and a preference for natural goods.
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Market Players
- Leading players in the feed phytogenics market include “Delacon, Biomin, Cargill, Dupont, Adisseo” and others.
- The market is characterized by the presence of key players such as “Cargill, Inc., Archer Daniels Midland Company, Adisseo France SAS, and Ayurvet Ltd., among” others.
Market Segments
The feed phytogenics market is segmented based on “Animal type, Ingredient, and Application” providing insights into revenue sales and USD billion projections for the years 2022-2033.
Key factors driving the growth of the feed phytogenics market include:
- Rising Demand for Natural Feed Additives: Consumer preferences are shifting towards natural and organic products, leading to increased demand for feed additives derived from botanical sources.
- Ban on Antibiotic Growth Promoters (AGPs): Regulatory restrictions on the use of antibiotics in animal feed, particularly in regions like the European Union, have spurred the adoption of phytogenic feed additives as alternatives.
- Focus on Animal Health and Performance: Phytogenics are recognized for their beneficial effects on animal health, including improved digestion, immune stimulation, and growth promotion, which ultimately contribute to better performance and productivity in livestock.
- Advancements in Extraction and Formulation Technologies: Ongoing research and development efforts are enhancing the efficacy and stability of phytogenic compounds, making them more suitable for commercial use in animal nutrition.
- Expanding Livestock Production: The growing global population, coupled with rising disposable incomes in emerging economies, is fueling demand for animal protein, thereby driving the need for efficient and sustainable livestock production practices.
- Increasing Awareness about Sustainable Agriculture: Phytogenics are perceived as environmentally friendly alternatives to synthetic additives, aligning with the growing emphasis on sustainability in agriculture.
- Strategic Partnerships and Collaborations: Companies operating in the feed phytogenics market are forming strategic alliances with research institutions and universities to develop innovative products and expand their market presence.
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Conclusion
The global feed phytogenics market is witnessing substantial growth driven by sustainability concerns, increasing meat consumption, and the adoption of natural growth promoters. With a focus on regional growth insights and key market players, the industry is expected to experience significant expansion in the coming years.
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