Global Phytogenic Feed Additives Market Size Expands to Reach USD 1.6 Billion by 2030

Published | 30 November 2024

Global Phytogenic Feed Additives Market is flourishing because of an increasing consumer demand for natural and organic products and growing antibiotic resistance concerns.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Phytogenic Feed Additives Market size at USD 921.5 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Phytogenic Feed Additives Market size to expand at a CAGR of 8.20% reaching a value of USD 1,587.0 million by 2030. Key drivers of Global Phytogenic Feed Additives Market include an increasing demand for organic and plant-based goods as well as concerns about animal health spurred on by the rise in zoonotic diseases. Over the forecast period, it is also expected that the worldwide market for phytogenic food additives would be driven by growing awareness of the advantages of these additives in enhancing animal performance and raising the profitability of livestock farmers.

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Opportunity - Rising Awareness about Animal Health and Welfare

An increasing focus on animal health and welfare due to the rising prevalence of zoonotic diseases is significantly influencing the growth of Global Phytogenic Feed Additives Market. Livestock producers are becoming more aware of maintaining the health of their animals for better productivity. Phytogenic additives offer multiple benefits, such as enhancing gut health, improving feed conversion rates, and reducing stress in animals. In the poultry, swine, and ruminant industries, the increasing adoption of these additives helps prevent diseases, improves livestock productivity, and reduces reliance on antibiotics, which is projected to drive Global Phytogenic Feed Additives Market during the period in analysis.

Impact of Escalating Geopolitical Tensions on Global Phytogenic Feed Additives Market

Global Phytogenic Feed Additives Market may face several significant challenges due to intensifying geopolitical tensions across the regions. Phytogenic feed additives are made from plant extracts, herbs, and spices that have to be sourced from all over the world. However, supply chain disruptions and trade restrictions or sanctions driven by geopolitical crises lead to production delays and higher prices. The implementation of trade restrictions, such tariffs and sanctions, disrupts international commerce and may result in a scarcity or diminished accessibility of particular additives on the international market.

Performance Enhancer Segment Holds Largest Market Share

The performance enhancer segment accounts for the largest share of Global Phytogenic Feed Additives Market. Phytogenic feed additives reduce reliance on antibiotic growth promoters while improving immune system performance and gastrointestinal health in animals. Performance enhancers are also associated with improving animal reproductive performance. A significant portion of Global Phytogenic Feed Additives Market is also covered by the antimicrobial properties segment because bioactive compounds that inhibit the growth of pathogens and support the intestinal health of cattle are present.

Europe Leads Global Phytogenic Feed Additives Market

Europe holds a significant market share of Global Phytogenic Feed Additives Market, because of its stringent regulations laws and a high level of awareness regarding animal rights and health. Natural and organic feed products are in great demand in major European nations like Germany. Furthermore, over the forecast period, the market for phytogenic feed additives in Europe is expected to be driven by the region's leading feed manufacturing businesses, the growing livestock sector, and the rising need for animal protein.

Competitive Landscape

Major companies in Global Phytogenic Feed Additives Market include Biomin, Cargill, Delacon, DuPont, Kemin Industries, Adisseo, Pancosma, Nutrex, Novus International, DSM, and Evonik Industries. The presence of high number of companies intensify the market competition as they compete to gain a significant market share.

These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in Global Phytogenic Feed Additives Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Phytogenic Feed Additives Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Phytogenic Feed Additives Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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