According to a market report by Lucintel, the future of the phytogenic feed additive market looks promising with opportunities in various sources, such as herbs & spices, fruits & vegetables, and flowers. The global phytogenic feed additive market is expected to reach an estimated $1.1 billion by 2028 with a CAGR of 8% from 2023 to 2028. The major drivers for this market are rising prevalence of zoonotic diseases, growing need for animal digestibility enhancers, and increasing demand for high quality dairy and poultry products.
In this market, poultry, swine, ruminants, aquatic animals, and others are the major livestock segments. Lucintel forecasts that poultry will remain the largest livestock segment over the forecast period due to presence of large numbers of birds raised in relatively small spaces and increasing demand for egg and poultry meat.
Within this market, the fruit & vegetable segment is expected to witness the highest growth as fruits and vegetables are primarily used in phytogenic feed additive for extracting essential oils, flavonoids and saponins, which are considered an excellent source for phytogenic additive.
Europe will remain the largest region due to the increasing livestock production, rise in awareness regarding health and wellness of livestock, and ban on the use of AGP in the region.
Cargill, ADM, DuPont, DSM N.V., Land O’ Lakes, Adisseo, Nutreco, Kemin Industries, Natural Remedies, and Nor Feed are the major suppliers in the global phytogenic feed additive market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global phytogenic feed additive market by product type, livestock, function, source, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Phytogenic Feed Additive Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global phytogenic feed additive market by product type, livestock, function, source, and region, as follows:
Phytogenic Feed Additive Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Essential Oils
Flavonoids
Saponins
Oleoresins
Others
Phytogenic Feed Additive Market by Livestock [Value ($B) Shipment Analysis from 2017 to 2028]:
Poultry
Broilers
Layers
Turkey
Others
Ruminants
Dairy Cattle
Beef Cattle
Calves
Other Ruminants
Aquatic animals
Carp
Salmon
Tilapia
Others
Others
Phytogenic Feed Additive Market by Function [Value ($B) Shipment Analysis from 2017 to 2028]:
Performance Enhancers
Antimicrobial Properties
Palatability Enhancers
Others
Phytogenic Feed Additive Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:
Herbs & Spices
Fruits & Vegetables
Flowers
Phytogenic Feed Additive Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global phytogenic feed additive market by product type (essential oils, flavonoids, saponins, oleoresins, and others), livestock (poultry, swine, ruminants, aquatic animals and others), function (performance enhancers, antimicrobial properties, palatability enhancers, and other), source (herbs & spices, fruits & vegetables, and flowers), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?