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The feed phytogenics market share is expected to increase by USD 377.39 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.78%.
This feed phytogenics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers feed phytogenics market segmentation by type (essential oils, herbs and spices, oleoresins, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The feed phytogenics market report also offers information on several market vendors, including Archer Daniels Midland Co., AVT Natural Products Ltd., BASF SE, BIOMIN Holding GmbH, Bluestar Adisseo Co., Cargill Inc., Complete Solution for Poultry Inc., DOSTOFARM GmbH, Himalaya Global Holdings Ltd., International Flavors and Fragrances Inc, Kemin Industries Inc., Kerry Group Plc, Koninklijke DSM NV, Miavit GmbH, Natural Remedies Pvt. Ltd., Novus International Inc., Nutrex NV, Nutricare Life Science Pvt. Ltd., Phytobiotics Futterzusatzstoffe GmbH, and Phytosynthese among others.
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"Due to the increased efficiency and performance and the health-related benefits of phytogenics in animals, the Europe feed phytogenics market is growing.
The growing poultry industry is notably driving the feed phytogenics market growth, although factors such as growing consumer inclination toward vegan food may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the feed phytogenics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Feed Phytogenics Market Driver
The growing poultry industry is one of the factors driving the feed phytogenics market growth. Poultry is one of the most solid and vital industries in the world through the production of broilers and laying hens. Moreover, the rising population, increasing income of the middle-class population, and urbanization contribute to the poultry sector's growth. The poultry birds are more prone to common pathogens. Therefore, they need proper additive feed. Thus, the challenge of raising healthy and disease-free birds is driving the demand for plant-based animal feed additives known as feed phytogenics. Feed phytogenics are a natural and cost-effective source for eliminating antibiotics from poultry houses. Thus, the high-growing poultry industry will spur the demand for feed phytogenics, which, in turn, will boost the growth of the market in focus during the forecast period.
Key Feed Phytogenics Market Trend
The emergence of encapsulated technology is one of the key feed phytogenics market trends fueling the market growth. Although phytogenic feed additives positively affect animal health, they are often difficult to process in the feed. Many sources of phytogenics, especially essential oils, are delicate substances that lose their potency and efficiency due to their sensitivity to high temperatures, dustiness, strong odors, and oxidative and volatile properties. However, the emergence of new technologies such as encapsulation will help extend the shelf life of plant materials. Typically, encapsulation is a modern technology that can extend the shelf life of essential oils by protecting them from environmental influences by encapsulating liquid, gaseous, or solid substances in small millimeter capsules. Thus, the emergence of such technologies will drive the growth of the market during the forecast period.
Key Feed Phytogenics Market Challenge
Growing consumer inclination toward vegan food is one of the key factors challenging the feed phytogenics market growth. Veganism refers to the practice of abstaining from the use of animal products, particularly in the diet. Moreover, growing awareness among consumers about the health benefits of vegan food products has driven the demand for plant protein products such as soy protein ingredients. Soybeans contain more protein than milk, eggs, and meat and are comparatively less expensive. Apart from this, many start-ups are expected to manufacture plant-based meat alternatives and cultured meat. This is further expected to hamper meat consumption globally and have a negative impact on the demand for and use of feed phytogenics in the coming years.
This feed phytogenics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global feed phytogenics market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the feed phytogenics market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the feed phytogenics market encompasses successful business strategies deployed by the key vendors. The feed phytogenics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The feed phytogenics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the feed phytogenics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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54% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the feed phytogenics market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing demand for poultry and other meat products will facilitate the feed phytogenics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 hampered the growth of the market in APAC. However, the reopening of manufacturing units for feed phytogenics and the large-scale COVID-19 vaccination drives conducted in the region revived the growth of the feed phytogenics market in the region in 2021 and is expected to continue during the forecast period.
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The feed phytogenics market share growth by the essential oils segment will be significant during the forecast period. Essential oils are composed of terpenoids and phenylpropanoids, which have antimicrobial properties. Essential oils and their compounds are efficient as antimicrobial, antioxidant, immuno-stimulating, and anti-inflammatory agents. These compounds can be considered as safe as a feed additive. Moreover, they mainly enhance productivity and may have promising effects as growth and health promoters for animals. Such factors of essential oils may propel market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the feed phytogenics market size and actionable market insights on post COVID-19 impact on each segment.
Feed Phytogenics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.78% |
Market growth 2022-2026 |
$ 377.39 million |
Market structure |
Fragmented |
YoY growth (%) |
7.32 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key consumer countries |
US, China, Japan, India, Germany, and Italy |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Archer Daniels Midland Co., AVT Natural Products Ltd., BASF SE, BIOMIN Holding GmbH, Bluestar Adisseo Co., Cargill Inc., Complete Solution for Poultry Inc., DOSTOFARM GmbH, Himalaya Global Holdings Ltd., International Flavors and Fragrances Inc, Kemin Industries Inc., Kerry Group Plc, Koninklijke DSM NV, Miavit GmbH, Natural Remedies Pvt. Ltd., Novus International Inc., Nutrex NV, Nutricare Life Science Pvt. Ltd., Phytobiotics Futterzusatzstoffe GmbH, and Phytosynthese |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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