ID: MRFR/AGR/3295-HCR | 110 Pages | Published By Tejas Chaudhary on April 2023
Feed Phytobiotics Market Size is anticipated to reach USD 60.09 Billion by 2030, registering a CAGR of 9.20% during 2022-2030
Feed Phytobiotics Market is expected to register 8.4% CAGR from 2019 to 2024 and reach USD 1.08 billion by the end of 2024. Feed phytobiotics are products obtained from plants and are added in feeds during manufacturing processes. They are widely incorporated feeds as they help enhance the physiological growth of various agricultural livestock. Feed phytobiotics are considered as natural growth promoters as they are obtained from plants. Feed phytobiotics are available in ground, solid, and dried form. Feed phytobiotics provides various benefits to animals as they exhibit anti-inflammatory, anti-microbial, antioxidant, and antiviral properties. They also help strengthen the immune system and promote a healthy metabolism in animals by stimulating the secretion of various digestive enzymes, which is driving the growth of global feed phytobiotics market. Feed phytobiotics are also used to increase the palatability of animal feed by adding unique flavors. This helps increase the total feed intake and thus enhance the physical growth of the animal. These factors are expected to fuel the growth rate of the global feed phytobiotics market during the forecast period. Additionally, feed phytobiotics are replacing conventional antibiotic growth promoters, which is anticipated to support the growth of the global feed phytobiotics market.
The global feed phytobiotics market has been segmented based on source, livestock, function, and region.
The global feed phytobiotics market has been classified, on the basis of source into herbs & spices, essential oils, oleoresins, and others.
The global feed phytobiotics market has been bifurcated, on the basis of livestock into ruminants, poultry, swine, and others.
On the basis of function, the global feed phytobiotics market has been divided into performance and palatability.
The global feed phytobiotics market has been analyzed for four key regions– North America, Europe, Asia-Pacific, and the rest of the world.
The feed phytobiotics market in North America has further been segmented into the US, Canada, and Mexico.
The feed phytobiotics market in Europe has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
The feed phytobiotics market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific.
The feed phytobiotics market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Alltech, Inc. (US), Archer-Daniels-Midland Company (US), E.I. du Pont de Nemours and Company (US), Cargill Inc. (US), Kemin Industries, Inc. (US), Phytobiotics Futterzusatzstoffe GmbH (Germany), BIOMIN Holding GmbH (Austria), AB Agri Ltd. (UK), ForFarmers N.V. (Netherlands), AdiFeed S.p. z o.o (Poland), Neovia (France), Pancosma (Switzerland), Adisseo France SAS (China), Dostofarm GmbH (Germany) are some of the key players operating in the global feed phytobiotics market.
Regional Market Summary
Global Feed Phytobiotics Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
The market in Asia-Pacific is expected to dominate the global feed phytobiotics market and grow with the highest CAGR during the forecast period due to large scale poultry farming in China. Moreover, increase in livestock raising activities in various countries such as India, Indonesia, Thailand, Vietnam, and Sri Lanka is predicted to fuel the growth of the feed phytobiotics market in this region.
North America is projected to gain a significant market share in global feed phytobiotics market during the review period due to the stringent rules and regulations imposed on the use of conventional antibiotics growth promoter in many countries including the US. Moreover, the increasing consumption of poultry products is expected to drive the growth of the feed phytobiotics market in this region.
The market in the rest of the world is expected to grow at impressive growth rate as the demand for feed phytobiotics is increasing in South American countries, such as Argentina and Brazil, due to the increase in the consumption of meat and dairy products.
Global Feed Phytobiotics Market, by Source
Global Feed Phytobiotics Market, by Livestock
Global Feed Phytobiotics Market, by Function
Global Feed Phytobiotics Market, by Region
Rest of the World (RoW)
Feed phytobiotics market is projected to touch USD 1.08 billion by 2024.
Feed phytobiotics market is expected to exhibit 8.4% CAGR from 2019 to 2024.
Importance given to animal health is the major driver of the global feed phytobiotics market.
High production costs and fluctuating prices of raw materials can restrain market growth.
APAC can dominate the global feed phytobiotics market due to massive demand for biofortified crops.
AB Agri Ltd., Phytobiotics Futterzusatzstoffe GmbH, Adisseo France SAS, AdiFeed S.p. z o.o, Archer-Daniels-Midland Company, Alltech, Inc., ForFarmers N.V., Pancosma, Cargill Inc., Dostofarm GmbH, Kemin Industries, Inc., E.I. du Pont de Nemours and Company, Neovia, and BIOMIN Holding GmbH are notable players of the global feed phytobiotics market.