According to Future Market Insights research, during the projected period, the Phytogenics market is expected to grow at a CAGR of 4.4%. The market value is projected to increase from US$ 891.9 million in 2022 to US$1,371.8 million by 2032. The Phytogenic market was valued at US$ 864.2million at the end of 2021 and is anticipated to exhibit CAGR growth of 3.2% from 2016 to 2021.
Market Size Value in 2022
US$ 891.9 million
Market Forecast Value in 2032
US$1,371.8 million
Global Growth Rate (2022 to 2032)
4.4 %CAGR
Forecast Period
2022 to 2032
Market Share of The United Kingdom in Europe
5.3%
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Introduction
The term feed additives refer to dietary supplements used in animal nutrition to improve the quality of the feed and food given to the animal. Utilizing phytogenic can improve the quality of feed additives. Phytogenics are a diverse range of natural compounds that are used as antibiotic-free feed additives.
Phytogenics are also referred to as natural growth promoters (NGPs), which are fed to animals. These phytogenic are generated from various plants and their related extracts, including essential oils, spices, herbs, leaves, and roots. The advantages of utilizing phytogenic feed additives include increased feed intake, a reduction in the incidence of diarrhea, stimulation of digestion, enhanced performance, and improved reproductive parameters. Since phytogenic are derived from essential oils, they can be found in dry, solid, and ground forms. Encapsulation, a development in technology, extends the shelf life of phytogenic and shields them from drastic climatic fluctuations.
The production efficiency and productivity of animals may be improved via phytogenic. Additionally, it can promote gut health and antibacterial and palatability properties.
Comparing historical outlook and projections for the world's Phytogenics
A new report published by Future market insights, titled, Phytogenics Market - Global Opportunity Analysis and Industry Forecast, 2022 to 2032, projects the global Phytogenic market to reach US$ 1,371.8 million by 2032. The market was valued US$ 738.3 million in 2016 and is expected to grow at a CAGR of 4.4% from 2022 to 2032.
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Country-wise Insights
What is the overview of the market of Phytogenics in the world?
According to product type, the essential oil market is the most lucrative segment in the phytogenic industry due to its advantages for livestock, including a decrease in the use of antibiotics, support for instinctive health, acceleration of healthy digestion activity in livestock, and a decrease in gut bacteria. In the upcoming years, it is anticipated that the market for phytogenic in Europe will expand steadily. The rising demand from China and India, as well as the ongoing price hikes in Japan, will be the key drivers of this expansion.
In terms of particular goods, it is anticipated that demand for plant-based medicines would increase moving forward, particularly in the field of cancer therapy. Apart from that, there will probably be a rise in demand for phytogenic compounds for usage in food supplements and cosmetics.
According to livestock, the poultry sector is predicted to grow in the near future, especially in developing countries, as a result of its use in things like coloring agents that enhance egg yolk color and a decrease in the use of antibiotics in poultry diets, which give the animal food industry a chance to use alternative products and lead to an increase in the demand for phytogenic feed additives.
What is the outlook of North America in the market of Phytogenics in the world?
Due to the great demand for antibiotic-free beef, chicken, and turkey, widespread concern for animal welfare, advanced technology, and a ban on the use of antibiotics in these areas, North America currently holds a monopoly on the phytogenic industry, followed by Europe and Japan. The demand for phytogenic products has increased significantly globally in recent years.
The primary driver of the expansion of the phytogenic market in North America is the rising demand for natural and organic animal feed additives. Numerous cattle farms exist in the area, and they progressively substitute phytogenic for antibiotics. Another factor boosting the market's growth is the presence of important firms in the area. The high cost of raw materials is the major challenge faced by manufacturers in the phytogenic market.
What is the outlook of Europe in the market of Phytogenics in the world?
In the market for phytogenic, Europe is a major player. The continent is home to some of the world's leading producers of this natural product, including Germany and Australia. As such, the market for phytogenic is highly competitive. Prices are typically lower in Europe than in other parts of the world, due to the high level of production. However, demand for phytogenic is also high in Europe, due to the continent's large population.
What is the outlook of Asia Pacific in the market of Phytogenics in the world?
Asia Pacific and the Middle East and Africa hold huge potential and show substantial growth in terms of rising consumption of meat in countries such as India and China Moreover, increasing demand for nutritive feeds, rising number of animals, and growing demand for animal products such as dairy and eggs create a significant challenge for farmers to enhance the livestock-related productivity and thereby, increasing the growth of phytogenic market in emerging regions.
Category-wise Insights
What are the major drivers for Phytogenics in the Market?
Phytogenics market is witnessing maximum growth owing to a rise in the demand for high-quality animal protein, and organic products, growing commercialization of the livestock sector, continuous technological enhancement, increasing independent retail food sector, and government initiatives for animal welfare.
Moreover, increasing concern over food quality, preference over processed animal products, and a limit on the use of in-feed antibiotics growth promoters in various countries have fueled the demand for phytogenic products.
In addition to that rise in the reliability of natural growth promoters in animal nutrition and the reduction of ammonia and other greenhouse gasses effect are some other factors expected to flourish the phytogenic market.
However, stringent government regulations for food and health safety, high feed prices, limited feed additives manufacturers, and complex nature which leads to the lack of product efficiency and unfriendly taste of some compounds hamper the growth of phytogenic market in near future.
What is the different source for the extraction of Phytogenics?
Herbal medicines have been used for centuries to treat a variety of ailments. The active ingredients in these medicines are called phytochemicals or phytogenic. Phytogenics can be extracted from plant material using a number of different methods.
The most common method of extraction is through steam distillation. This method involves passing steam through the plant material to extract the phytogenic. The phytogenic are then condensed into a liquid and collected.
Extraction by the solvent is another common method. This involves using a solvent, such as ethanol, to extract the phytogenic from the plant material. The advantage of this method is that it can be used on plant material that is not easily vaporized, such as resins. Finally, supercritical fluid extraction is a newer method that is becoming more popular.
What is the major restraint for Phytogenics in the Market?
Phytogenic growth promoters (PGPs) are a category of feed additives that improve animal productivity by stimulating appetite and gut health. However, the use of PGPs is limited by regulatory hurdles and public perception.
The major restraint for phytogenic in the market is the lack of regulatory clarity. Currently, there is no consensus on how to classify PGPs or what safety testing is required. This has led to a patchwork of regulations across different countries and regions. As a result, many companies are hesitant to invest in developing new products or expanding their business into new markets.
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Supermarket and Industrial Distributors Are Propelling the Growth Phytogenics in Market
Supermarkets and industrial distributors are propelling the growth of phytogenic in the market. The demand for phytogenic is increasing due to the growing awareness of the benefits of these natural products. The supply of phytogenic is also increasing as more industries are requiring these products. The growth of phytogenic in the market is a positive trend that is benefiting both consumers and producers.
Supermarkets and industrial distributors are propelling the growth of phytogenic in the market. The demand for phytogenic is on the rise due to the ever-increasing population and their need for better quality food. The supply of phytogenic is also increasing as more and more industries are requiring them for their products. This increase in demand and supply is resulting in the rapid growth of the market for phytogenic.
Competitive Landscape
In the market for growth phytogenic, demand is high and competition is stiff. Producers are vying for a share of the pie, and each one is trying to outdo the others in terms of quality and price. The market is expected to continue growing in the coming years, as more and more people become aware of the benefits of using growth phytogenic. With so many producers competing for market share, it is important for consumers to be informed about the different products available and make sure they are getting the best value for their money.
In recent years there has been an increased demand for phytogenic in the market. This is due to the many benefits that phytogenic offers, such as improving crop yield and quality. As a result, the competitive landscape for phytogenic has become more crowded. There are a number of different suppliers competing for market share, and each is offering a unique product. To be successful in this market, it is important to have a strong product that can meet the needs of farmers. It is also important to have a good marketing strategy to reach potential customers. There are many different channels that can be used to market phytogenic, and it is important to choose the right one.
Phytogenics Market Report Scope
Attribute
Details
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2022
Market Analysis
US$ million for Value and Units for Volume
Key Regions Covered
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
Key Countries Covered
The USA
Canada
Mexico
Germany
The United Kingdom
France
Italy
Spain
China
Japan
India
South Korea
Australia
Brazil
Argentina
South Africa
UAE
Key Segments Covered
By Type
By livestock
By End-user
By Region
By Distribution Channel
Key Companies Profiled
Futterzusatzstoffe GmbH
Cargill Inc.
Delacon Biotechnik GmbH
BIOMIN Holding GmbH
E. I. du Pont de Nemours and Company
Kemin Industries, Inc.
Kerry Group
Pancosma SA
Ensign-Bickford Industries Inc.
Dostofarm GmbH
Ferrer HealthTech
Report Coverage
Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Phytogenics Market is segmentation
By End-use, the Phytogenics Market is segmented as:
Pharmaceuticals
Food And Beverage
Dietary Supplements
Cosmetics
By Type, the Phytogenics Market is segmented as:
Herbs & Spices
Essential Oils
Oleoresins
Others
By Region, the Phytogenics Market is segmented as:
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
By Livestock the Phytogenics Market is segmented as:
Poultry
Ruminants Swine
Aquatics
Others
By Distribution Channel, the Phytogenics Market is segmented as:
Pharmacies/Drugstores
Health & Beauty stores
Hypermarket/Supermarket
Direct Selling
Online
Frequently Asked Questions
What is the market Share value of Phytogenic in 2022?
The global Phytogenic market will reach a valuation of US$ 891.9 million by the end of 2022.
What is the demand outlook forecast for the Phytogenic market?
The global Phytogenic market is forecasted to surpass US$ 1,371.8 million by the end of 2032.
Which are the major countries driving demand for Phytogenic Market?
The USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Phytogenic Market.
What is the, USA Phytogenic Market Outlook?
The USA Phytogenics Market is contributing 32.8% of the total value share in the global market.
What is the, Germany Phytogenics Market Outlook?
The Germany Phytogenics Market is contributing 25.0% of total value share in global market.
What is the, Japan Phytogenics Market Outlook?
In Japan Phytogenics Market is contributing 9.5% of total market share which values in year 2022.
What is the, India Phytogenics Market Outlook?
In India Phytogenics Market is contributing 3.9% of CAGR for latest period.
What is the, China Phytogenics Market Outlook?
In China Phytogenics Market is contributing 4.4% of CAGR for latest period.
What is the, Australia Phytogenics Market Outlook?
In Australia Phytogenics Market is contributing 3.0% of total value share in global market.
