Feed Phytogenics Market size to exceed $1 Bn by 2032

Feed Phytogenics Market size is anticipated to surpass USD 1 billion by 2032, according to a new research report by Global Market Insights Inc.
 

As per the report, the rise in global population and per-capita meat consumption will proliferate the consumption of phytogenic feed additives for animal nutrition. Based on a report from FAO and OECD, by 2031, population growth will result in a 15% increase in meat consumption worldwide. With the growing population of health-conscious consumers and high prevalence of malnutrition, the intake of meat-based products will also surge. These factors, alongside the rise in livestock farming and innovation in meat processing technology, are likely to create lucrative prospects for the market expansion.
 

Herbs & spices-derived feed phytogenics to gain traction as treatment for digestive ailments

The feed phytogenics market from herbs & spices product segment is set to register more than 3% CAGR through 2032. Phytogenic substances derived from spices, herbs, and their extracts have pharmacologic actions in the digestive tract, in addition to exerting spasmolytic and relaxant effects. Herbs and spices are also capable of increasing bile secretion and pancreatic enzyme production in the intestinal tract and enhancing antibacterial activity against varied food-borne pathogens. Moreover, its rising usage as a digestion and appetite stimulant will further drive product demand to improve animal health.
 

High intake of organic poultry meat may fuel the adoption of feed phytogenic additives

The feed phytogenics market from poultry livestock segment is expected to cross USD 355 million by 2032, on account of the mounting intake of organic poultry meat. Due to the high concern about antibiotic resistance in poultry, feed manufacturers have opted for viable alternatives, thereby bolstering the sales of poultry feed phytogenics. However, the rise in the cost of feedstocks and poor profit margins may create a hindrance to poultry farming and in turn, assert a negative influence on industry dynamics.
 

Browse key industry insights spread across 325 pages with 222 market data tables and 53 figures & charts from the report, “Feed Phytogenics Market Size By Product (Essential Oils, Herbs & Spices, Oleoresins), By Livestock (Poultry, Swine, Ruminant, Aquatic, Equine), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/feed-phytogenics-market

Escalating meat exports will stimulate phytogenics integration in animal feed in Europe

Europe feed phytogenics market is predicted to exhibit over 3% CAGR from 2023 to 2032, credited to the emergence of Germany as a net pork exporter, as well as the escalating production of poultry in several European nations. Based on statistics from Euro Meat, the poultry slaughter volume rose from 748,000 tons in 1999 to over 1.59 million tons in 2021 in the country. In addition, the introduction of favorable legislative frameworks to fuel animal welfare will promote the use of plant-derived feed phytogenics in the region.
 

Acquisition strategies by major players will complement the global industry landscape

Some of the leading players in the feed phytogenics market include Dodson & Horrell, Cargill, Devenish Nutrition, EW Nutrition GmbH, PMI Additives, DSM, ADM, Vinayak Ingredients, Norex Flavors Pvt. Ltd., The Himalaya Drug Company Amorvet, Ayurvet Limited, Natural Herbs & Formulations, Dostofarm GmbH, Nutricare Life Sciences Limited, Nor-Feed, Natural Remedies Pvt. Ltd., and DowDuPont. These companies are incorporating strategies such as product range expansions and acquisitions to boost their presence in the market.
 

For instance, in June 2022, Cargill inked a binding agreement to acquire Delacon, a plant-based phytogenic additives provider, to cater to feed customers and address the demand for animal-based products. This initiative enabled the company to expand its customer base and strengthen its foothold in the global industry.