The feed phytogenics market is projected to grow at a CAGR of 8.8%, to reach a value of USD 962.5 million by 2023 from USD 631.4 million in 2018. The feed phytogenics market growth is driven by advancements in the feed industry, increased demand for livestock products, rise in awareness about animal health & feed quality, ban on antibiotics as growth promoters, and health benefits of phytogenics. The high-growth potential in emerging markets and untapped regions are projected to provide new growth opportunities for market players.
The key players profiled in the report have a strong presence in the global feed phytogenics market; these include Delacon (Austria), Biomin (Austria), Cargill (US), DuPont (US), Adisseo (China), Dostofarm (Germany), Phytobiotics Futterzusatzstoffe GmbH (Germany), Pancosma (Switzerland), A&A Pharmachem Inc. (Canada), and Kemin Industries (US).
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The key players in the phytogenics market have adopted growth strategies such as new product launches, acquisitions, expansions & investments, and agreements & partnerships to cater to the increasing demand for feed phytogenics. Companies have been expanding their operations in various geographies across the globe to establish themselves as leading players in the feed phytogenics market. Companies such as Cargill are focusing on expanding their feed phytogenic products manufacturing capacities to strengthen their presence in the market. Some key companies also adopted strategies such as new product launches to expand their reach geographically.
Delacon, one of the global leaders in the feed phytogenics market, offers a wide range of feed phytogenic products for poultry, swine, and ruminants. The company also plans to expand its product portfolio for fish and shrimps. The company focuses on increasing its market presence in the feed phytogenics market through partnerships and expansions. The company also focuses on increasing its product portfolio to get an edge over its competitors. In July 2017, Delacon partnered with Cargill which has enabled both the companies to gain the mutual benefits of the expertise of both the companies.
Cargill is recognized as an international marketer and producer of agricultural products, food, and financial & industrial products & services. The company offers feed phytogenic products under Provimi (Netherlands), a company which specializes in animal nutrition and related products. Cargill is highly active in the feed phytogenics market. It focuses on expanding its presence in the market by adopting various strategies such as new product launches, acquisitions, and expansions & investments. In April 2018, Cargill and Delacon, with combined efforts, launched three phytogenic-based products in Russia—Biostrong 510, Fresta F Plus, and Rumex.
