Chicago, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The global phytogenic feed additives market is estimated to be valued at USD 864 million in 2022. It is projected to reach USD 1,223 million by 2027, with a CAGR of 7.2%, in terms of value between 2022 and 2027. The reasons that are driving the growth of the Phytogenic feed additives market are increasing demand of natural additives for enhancing the livestock performance. Phytogenic feed products enhances the nutritional profile of the feed products and also enhance their palatability due to which they are in significant demand across the feed industry.
Key Market Players
- Cargill (US)
- ADM (US)
- DuPont (US)
- DSM N.V. (Netherlands)
- Land O’ Lakes (US)
- Adisseo (France)
- Nutreco (Netherlands)
- Kemin Industries (US)
- Natural Remedies (India)
- Nor Feed (France)
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By livestock, swine segment accounts for the second-largest market share in the phytogenic feed additives market
Based on livestock, swine accounts for the second-largest segment in the phytogenic feed additives market. The consumption of swine meat or pork has increased significantly in recent years which has contributed to the growth and application of feed phytogenic products in swine. Phytogenic feed intakes are used in swine for a variety of reasons such as increasing their feed intake, improving their gut function and increasing their resistance to various diseases which have contributed significantly to their market growth in recent years.
By source, the fruits & vegetables segment account for significant market share in the phytogenic feed additives market
By source, the fruits & vegetables account for the second-largest segment in the phytogenic feed additives market. Fruit & vegetables waste are particularly used in phytogenic feed additives for sustainability and it also addresses the issues of waste recycling and waste reduction. Furthermore, fruits & vegetables such as berries, citrus fruits and onions are used as sources to extract essential oils, flavonoids and saponins and their oils are considered an excellent phytogenic additive which propels their demand and market growth in the industry.
By function, antimicrobial properties segment accounts for the second-largest market share in the phytogenic feed additives market
Based on function, antimicrobial properties account for the second-largest segment in the phytogenic feed additives market. The phytogenic feed additives are largely used in feed products for their antiviral and antimicrobial properties. The phytogenic feed additives primarily control potential pathogens and modulate intestinal microbia. They possess significant antimicrobial and antifungal properties due to which they are considered a suitable alternative to antibiotic growth promoters. These desirable properties of phytogenic feed additives are likely to contribute to their market growth and demand over the forecasted period.
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Asia Pacific is projected to be the largest market for the phytogenic feed additives market during the forecast period
Based on region, Asia Pacific region is projected to be the largest market for phytogenic feed additives industry during the forecast period. This growth of the phytogenic feed additives industry in the region is supported by an increasing number of feed mills and feed production. The region also has countries such as China, India, Japan, Thailand and Vietnam which have a large livestock population due to which the demand for phytogenic feed additives have also witnessed a significant rise in recent years as the awareness towards usage of natural additives and need of adequate nutrition increased in the region.
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