The global phytogenic feed additives market size is estimated to be valued at USD 701 million in 2019 and is projected to reach USD 1,226 billion by 2025, growing at a CAGR of 9.8% during the forecast period. Phytogenics are non-antibiotic growth promoters representing a group of natural substances used in the livestock industry for nutrition. Phytogenics have evolved as a key feed additive, as they help increase feed intake, improve gut function, prevent diarrhea, and have antimicrobial and antioxidative effects on the livestock. This way, they enhance both feed palatability and livestock performance.
The phytogenic feed additives market is driven by advancements in the animal feed industry, such as the implementation of new technologies, including encapsulation, and government aids/funds propelling its usage. Along with this, factors such as an increase in the demand for livestock products, ban on antibiotics by the European Union (EU), and rise in awareness regarding animal health and feed quality, are driving the market for phytogenic feed additives, globally.
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Based on type, the phytogenic feed additives market has been segmented into essential oils, flavonoids, saponins, oleoresins, and others. The essential oils segment is projected to be the fastest-growing during the forecast period, due to the increase in demand for alternatives to antibiotic growth promoters. Also, essential oils offer numerous benefits such as producing digestive enzymes, improving gut histology, and antibacterial characteristics, which further boost the consumption of essential oils as feed additives.
By livestock, the phytogenic feed additives market is segmented into ruminants, swine, poultry, aquatic animals, and others. The poultry segment is projected to grow at the highest rate during the forecast period since broilers intensively consume phytogenics for better gut health and have a high feed conversion rate as compared to other livestock types. Additionally, poultry population growth, which has doubled in the last two decades, according to the Food and Agriculture Organization of the United Nations (FAO), is supporting the high growth rate of the poultry segment.
The rising per capita income is increasing the demand for diversified food materials, among which meat holds the highest priority for their diet. Therefore, the increasing demand for livestock products, as well as expenditure on animal health and wellness, creates demand for feed in emerging markets, such as the Asia Pacific, Africa, and South American regions. This has created an opportunity for feed manufacturers to enter the untapped markets. For instance, in July 2017, Cargill and Delacon formed a partnership to provide their customers with efficient feed phytogenic products.
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Following this partnership, Delacon and Cargill together introduced phytogenic feed additives in China and Russia. Also, the growing ban on antibiotics, growth promoters in other Asian countries, such as Korea, Vietnam, Indonesia, and Bangladesh, are creating opportunities for phytogenic manufacturers to launch new products, thus driving the growth of the global phytogenic feed additives market.
