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Phytogenic Feed Additives Market Will Hit Big Revenues In Future

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Phytogenic Feed Additives Market Will Hit Big Revenues In Future

October 07
18:55 2020
Phytogenic Feed Additives Market Will Hit Big Revenues In Future

MarketsandMarkets™
The global phytogenic feed additives market size is estimated to account for USD 753 million in 2020 and is projected to reach USD 1,098 million by 2025, recording a CAGR of 7.8%

The global phytogenic feed additives market size is estimated to be USD 753.1 million in 2020 and is projected to reach USD 1,098 million by 2025, at a CAGR of 7.8% during the forecast period. The market has a promising growth potential due to several factors, including the increasing awareness of plant-based animal feed products and strict government regulations regarding animal health. 

The key players in this market include Cargill, Incorporated (US), Delacon Biotechnik GmbH (Austria), BIOMIN Holding GmbH (Austria), Bluestar Adisseo Co., Ltd. (China), DuPont (US), and Synthite Industries Ltd. (India). Manufacturers are adopting strategies such as new product launches, expansion & investments, mergers & acquisitions, agreements, collaborations, joint ventures, and partnerships to strengthen their position in the market.

Phytogenic Feed Additives Market

Cargill Incorporated (US) held the majority of the global phytogenic feed additives market share in 2020. As livestock feed manufacturers seek sustainable and natural solutions to enhance animal performance and reduce and replace antibiotic growth promoters (AGP) in feed, Cargill offers feed additives and functional feeds. Through its animal nutrition business unit, Cargill offers feed additives, including phytogenics for many animals, such as swine, poultry, ruminants, and aquaculture.

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The company’s strong global reach helps it to source ingredients and produce high-quality animal feed and feed additives at the best cost. Furthermore, in 2017, Cargill and Delacon formed a partnership to provide their customers with efficient feed phytogenic products. Being one of the leaders in animal nutrition, the company has a large consumer base for feed phytogenic products and is hence one of the global market leaders.

Delacon Biotechnik GmbH (Delacon) is one of the leading players in the feed phytogenics market. It develops and produces natural feed additives prepared from spices, herbs, and essential oils for poultry, ruminants, and swine. The company exports its products to more than 80 countries and has one production site. The major products of Delacon include BIOSTRONG 510, FRESTA, RUMEX, and ACTIFOR. FRESTA F and Biostrong 510 EC are the first and second phytogenic feed additives, respectively, to obtain an approval from the European Union (EU) for use as growth promoters (zootechnical additive) in Europe.

Bluestar Adisseo Co., Ltd. (Bluestar Adisseo) is one of the leading providers of animal nutrition solutions. It operates as a subsidiary of the Chinese Bluestar Group. The company provides feed additives to 3,500 customers located in 100 countries globally. Adisseo has nine in-house research centers and several external research contributors; it also has seven production sites based in France, Spain, and China. In February 2018, Bluestar Adisseo (France) acquired Nutriad, Inc. to strengthen its global product portfolio’s competitiveness. The company provides feed phytogenic products through its recently acquired subsidiary, Nutriad Inc. (Belgium). Nutriad is an important specialist in the development, manufacture, and marketing of animal and aquafeed additives worldwide. The company delivers products & services to over 80 countries worldwide through a network of own offices and distributors, supported by four application laboratories and five manufacturing facilities in the UK, Belgium, Spain, China, and the US.

Asia Pacific dominated the phytogenic feed additives market in 2019; this has been supported by the presence of a large livestock population (FAO 2016) and the growth rate. Also, livestock producers in China and India are focusing on animal health by resorting to natural solutions.

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Additionally, there has been a rise in the demand for meat and meat products, in accordance with the need for a protein-rich meat diet. The market for poultry is estimated to increase in India and China due to factors such as the focus on meat quality and public health campaigns, which encourage the consumption of lower-fat protein options. Fish consumption is also increasing in the region owing to similar health trends. On the other hand, there has been an increase in production as well as consumption of dairy products in the region. According to the FAO, milk production grew at a rate of about 5% per year from 1980 to 2015 in the geography, against the global average of only 2% during the same period. These factors are expected to drive the phytogenic feed additives market in the Asia Pacific region.

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