Phytogenic Feed Additives Market: Current Analysis and Forecast (2022-2028)
According to a new report published by UnivDatos Markets Insights, the Phytogenic Feed Additives Market was valued at more than USD xx million in 2020 and is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Type (Essential Oils, Flavonoids, Saponins, Oleoresins, Others); Source (Herbs and Spices, Flowers, Fruits and Vegetables); Form (Liquid, Dry); Function (Performance Enhancers, Antimicrobial Properties, Palatability Enhancers, Others); Livestock (Poultry, Swine, Ruminants, Aquatic animals, Others); Region/Country.
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The phytogenic feed additives market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the phytogenic feed additives market. The phytogenic feed additives market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the phytogenic feed additives market at the global and regional levels.
Market Overview
The demand for the phytogenic feed additives market is growing due to the increase in diseases in livestock leading to a loss of production & profit and disruption in the economy & international trade boosts the adoption of inorganic growth strategies among key industry players around the globe. For instance, In October 2020, Royal DSM, a worldwide science-based corporation focused on nutrition, health, and sustainable living, finalized the €980 million acquisition of Erber Group. Biomin offers enzymes and adsorbents that help break down poisons found in feed, such as aflatoxins and ergot alkaloids. This acquired DSM’s expertise as a leading provider of animal health and nutrition solutions. Owing to these glaring statistics the demand for phytogenic feed additives is anticipated to grow in the forthcoming years as the decreased risk of food-borne diseases and thus boosted the growth of the phytogenic feed additives industry. Moreover, changing lifestyles and improved health awareness are fueling the demand for the phytogenic feed additives market. Furthermore, increasing food safety concerns and demand for quality meat products are expected to drive the market for phytogenic feed additives market in the coming years.
Some of the major players operating in the market are Cargill, Incorporated.; Archer-Daniels-Midland Co; DuPont de Nemours Inc; Koninklijke DSM N.V.; Land O' Lakes; Bluestar Adisseo Co; SHV Holdings NV; Kemin Industries, Inc.; Dostofarm GmbH; Silvateam S.p.a.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Globally, the COVID-19 outbreak is spreading rapidly and having an impact on human life. To prevent further casualties, the widespread coronavirus must be slowed down through isolation, lockdowns, and extensive closures. The crisis caused by the coronavirus disease is having an impact on world economic activity. Since feed is essential in the production of various feed additives, livestock animals play a significant role in the production of nutrient-rich feed. This nutrient-rich feed benefits livestock reproduction, lactation, health management, and brand equity. Global consumption and production patterns, as well as the supply chain for raw materials, have been impacted by the pandemic and lockdown. The market for phytogenic poultry feed additives has been significantly impacted by the COVID-19 outbreak, which has affected more than 100 countries worldwide.
The global phytogenic feed additives market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the form, the market is fragmented into liquid and dry. The dry segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The dry market is increasingly used and accepted by consumers because it is thought to be simpler to use and handle. Due to their increased nutrient digestibility and decreased feed wastage, the powdered form of the dry segment is also more cost-effective and is expected to experience significant demand and growth over the foreseeable future.
· Based on the function, the market is fragmented into performance enhancers, antimicrobial properties, palatability enhancers, and others. The antimicrobial properties segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The antiviral and antimicrobial properties of phytogenic feed additives account for a large portion of their use in feed products. The main functions of phytogenic feed additives are pathogen control and modulation of intestinal microbiota. They are regarded as a good substitute for antibiotic growth promoters because they have potent antimicrobial and antifungal properties. Over the anticipated period, the market growth and demand for phytogenic feed additives are likely to be influenced by these favourable characteristics.
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Phytogenic feed additives Market Geographical Segmentation Includes:
· North America (U.S., Canada, and Rest of North America)
· Europe (Germany, U.K., Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Asia Pacific constitutes a major market for the phytogenic feed additives industry this is due to the lack of harmful residues in plant-based additives. Additionally, the replacement strategies for antibiotic growth promoters are likely to aid the market growth in this region. Furthermore, an increasing number of feed mills and feed production, greater demand for feed, and a rise in awareness about the need for quality feed among livestock farmers are boosting the growth of the market.
The major players targeting the market include
· Cargill, Incorporated.
· Archer-Daniels-Midland Co
· DuPont de Nemours Inc
· Koninklijke DSM N.V.
· Land O' Lakes
· Bluestar Adisseo Co
· SHV Holdings NV
· Kemin Industries, Inc.
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· Dostofarm GmbH
· Silvateam S.p.a.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the phytogenic feed additives market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the phytogenic feed additives market?
• Which factors are influencing the phytogenic feed additives market over the forecast period?
• What are the global challenges, threats, and risks in the phytogenic feed additives market?
• Which factors are propelling and restraining the phytogenic feed additives market?
• What are the demanding global regions of the phytogenic feed additives market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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