Feed Phytogenic Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Feed Phytogenic Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The feed phytogenic market is poised to register a CAGR of 7.7% during the forecast period. The COVID -19 pandemic created many issues for the industry. While the demand for animal feed has been relatively stable, the supply has been gravely hit by the pandemic crisis. For instance, some countries, such as Romania, banned exports to Non-European Union countries, thereby creating severe demand-supply problems in the market.

Phytogenics have many properties, such as anti-inflammatory, antioxidative, anti-microbial, and digestion-enhancement, that are beneficial in modern livestock production. The increasing demand for high-quality meat, especially in China, Brazil, and India, is expected to boost the market. The boost will likely be driven by the increased demand for livestock production.

The increasing feed production is also another factor driving the feed phytogenics industry globally, owing to the antibiotic-free nature and other health-induced benefits of phytogenics in animals. Asia-Pacific is the fastest-growing market for feed phytogenics, with Vietnam, Indonesia, and India majorly contributing to the demand in the region.

The feed phytogenics market is highly fragmented, consisting of various small and medium-sized companies and a few big players, which have fair competition in the market. Some of the players in the market are Cargill Incorporated, DuPont, Adisseo, Biomin GmbH, Delacon Biotechnik GmbH, Pancosma, Phytobiotics Futterzusatzstoffe GmbH, NOR-FEED, Phytosynthese, and others.

Key Market TrendsIncreasing Production of Animal Feed is Driving the Market

The increasing production of feed is driving the feed phytogenic market, owing to the accelerated efficiency and performance and health-induced benefits of phytogenics in animals. The demand for an improved feed conversion ratio and antibiotic-free additives from a growing number of livestock producers is further inducing the need for botany-based feed additives.

According to the Global Feed Survey report published by Alltech in 2018, worldwide feed production increased from 871.0 million metric ton in 2011 to 1069.7 million metric ton in 2017. The need for superior quality meat and dairy products from health enthusiasts and the increasing popularity of natural ingredients in pet food are further leading producers to capture the untapped profits in the phytogenic industry. The global requirement for high volumes of feed and feed additives has resulted in extensive scientific research in the area, which is projected to drive the overall market for feed phytogenics in the coming years.

Modern feed additives are now commonly used as a critical tool to improve animal health and productivity. Among these, phytogenic feed additives are increasingly being adopted. Consequently, more products are entering the market.

Asia-Pacific - The Fastest Growing Market for Feed Phytogenics

Asia-Pacific holds the highest potential for growth in the feed phytogenic industry globally. The replacement strategy for antibiotic growth promoters and the absence of harmful residues in plant-based additives are majorly driving the demand for feed phytogenics in the Asia-Pacific belt. Vietnam and Indonesia, among the top feed-producing countries in the region, passed respective decrees prohibiting the use of antibiotics for animal growth promotion in early 2017. The use of antibiotics by producers to artificially fatten livestock is also facing a recommendation for a ban in India from the National Antimicrobial Resistance Action Plan committee, thereby fuelling the growth of natural additives like phytogenics in the Indian market.

Competitive Landscape

The feed phytogenic market is highly fragmented, with the presence of many small and medium-sized companies and a few international players competing in the global market. Some of the players in the market are Cargill Incorporated, Adisseo, Biomin GmbH, Delacon Biotechnik GmbH, Pancosma, Phytobiotics Futterzusatzstoffe GmbH, NOR-FEED, Phytosynthese, and others.

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