Phytogenic Feed Additives Market Size, Share, Growth, and Industry Growth by Type (Flexible Packaging, Rigid Packaging, Cans, Boxes/Cartons, and Other) By Application (Poultry owners, Poultry shops, and Others) Regional Forecast From 2023 To 2030

Updated On: 08 April 2024

PHYTOGENIC FEED ADDITIVES MARKET REPORT OVERVIEW 

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The global phytogenic feed additives market size is estimated to be USD 710.88 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with phytogenic feed additives experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 1170.63 million by 2027, exhibiting a CAGR of 8.67% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Phytogenic feed additives are also known as botanicals and PFAs. It is a substance of plant origin that aims to improve animal performance. Herbs, essential oils, and spices all serve as sources of bioactive ingredients, such as flavonoids and phenols.

The market growth is attributed to the increased concern about animal health, the rise in awareness about high-quality food, and the growing demand for natural additives. Rising demand for animal-based products coupled with innovative livestock-rearing practices. Ongoing R&D activities and rapid urbanization is estimated to fuel market progress. Huge need for phytogenic feed additives such as swine, poultry, and pet feeds, which is estimated to fuel market growth in the forthcoming years. The feed act as a natural growth promoter or non-antibiotic growth promoter. It is a substance of plant origin that aims to improve animal performance. The advantages of additives are estimated to surge market growth. On the contrary, raising the prices of end products resulting in low-profit margins is anticipated to limit market growth in the forthcoming years.

COVID-19 Impact: Closure of The Poultry and Lower Demand For The Additives to Harm Market Growth

The outbreak of COVID-19 pandemic affected numerous businesses and affected economic growth. Closure of the poultry and lower demand for the additives harm market growth. Lower production rates and travel bans lead to fluctuation of raw material prices to obstruct market growth. The shutdown of the manufacturing units and lockdown restrictions limit market growth.

LATEST TRENDS

"Growing Demand for Natural Additives to Fuel Market Growth"

Increasing demand for natural additives because of increased diseases in livestock leads to disruption in the economy, loss of production & profit, and risk to human health.  Huge consumption of meal products globally and growing concern about improved health is anticipated to accelerate market growth. Rise in concern about food safety and human health is threatened by livestock diseases, which is estimated to fuel market progress. Rising demand for animal-based products coupled with innovative livestock-rearing practices. Ongoing R&D activities and rapid urbanization is estimated to fuel market progress. Huge need for phytogenic feed additives such as swine, poultry, and pet feeds, which is estimated to fuel market growth in the forthcoming years.

PHYTOGENIC FEED ADDITIVES MARKET SEGMENTATION

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• By Type

Based on type, the market is divided into flexible packaging, rigid packaging, cans, boxes/cartons, and others.

Flexible packaging is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into poultry owners, poultry shops, and others.

Poultry owners are expected to be the top part of application segmentation.

DRIVING FACTORS

"Increased Demand from Livestock Farmers and Growing Poultry Owners to Fuel Market Growth"

Increasing demand from livestock farmers and growing poultry owners is estimated to fuel market growth. The high need to reduce the outbreak of diseases and the huge demand for high-quality food is anticipated to fuel market growth. The additives help to increase animal feed intake, the product is eco-friendly and sustainable, and helps to build immunity among animals. These features are estimated to fuel market growth. The feed act as a natural growth promoter or non-antibiotic growth promoter. It is a substance of plant origin that aims to improve animal performance. The advantages of additives are estimated to surge market growth in the upcoming years.

"A rise in Demand for Additives in Swine, Poultry, and Pet Feeds to Foster Market Performance "

Rising demand for the product in swine, poultry, and pet feeds is estimated to fuel market growth. The product plays a crucial role in enhancing the feed quality for different livestock. Pet owner concern about food quality and health coupled with a high need for high-quality animal food is estimated to fuel market growth.  Several companies are developing innovative feed products from naturally sourced ingredients such as microbes and plants. In addition, the product is safe for pets and the increased number of pet owners globally is anticipated to accelerate market growth. Numerous organizations are supporting organic animal food products for better health of animals is estimated to drive phytogenic feed additives market growth. 

RESTRAINING FACTORS

"Fluctuation of Prices to Harm Market Growth  "

Raising the prices of end products resulting in low-profit margins is anticipated to limit market growth in the forthcoming years.

PHYTOGENIC FEED ADDITIVES MARKET REGIONAL INSIGHTS

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"Growing awareness about Wellness and Healthy Livestock in Europe to Drive Market Share "

Europe is anticipated to account for the largest phytogenic feed additives market share owing to an increase in awareness about wellness and healthy livestock. A ban on antibiotic growth promoters is estimated to fuel market growth. Increase in livestock production such as poultry, cattle, and swine. Further, the easy availability of raw materials and the presence of major feed manufacturing companies are estimated to surge market progress.

Asia Pacific is anticipated to hold significant market growth due to the rise in awareness about high-quality food, and the growing demand for natural additives. Rising demand for animal-based products coupled with innovative livestock-rearing practices. Ongoing R&D activities and rapid urbanization is estimated to fuel market progress. Huge need for phytogenic feed additives such as swine, poultry, and pet feeds, which is estimated to fuel market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• BASF (Germany)
• Cargill (U.S.)
• Rhone-poulenc (France)
• Novus international (U.S.)
• BIOMIN Holding GmbH (Singapore)
• Delacon Biotechnik GmbH (Austria)
• Pancosma SA (Switzerland)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.