Feed Phytogenics Market Size

Feed Phytogenics Market Size

Feed Phytogenics Market size valued at USD 730 million in 2022 and is projected to exhibit a 3% CAGR between 2023 and 2032, owing to the growing concerns about antibiotic resistance in animals.

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Antibiotics are being extensively administered to improve the health and growth performance of poultry, swine, ruminant, and other livestock. The adoption of antibiotic growth promoters, however, has become limited, considering the high concern over antibiotic resistance. For example, the EU government banned the utilization of AGPs as feed additives, thereby bolstering the demand for phytogenic feed additives. Antibiotics can also negatively impact gut microbiota, further leading to a shift toward the use of natural plant extracts in animal feed additives

With the growing prevalence of zoonotic diseases, the consumption of plant-derived feed additives is expected to rise and create lucrative prospects for feed phytogenic producers. However, the lack of systematic evaluations of feed antibiotic substitutes may hinder the feed phytogenic market demand. Due to complex compositions, systematic evaluations of the safety and efficacy of compounds also remain a challenge. Furthermore, side effects including toxicity and regulatory concerns may limit phytogenics compound production.