Overview:

The global phytogenic feed additives market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Phytogenic feed additives (PFAs) are sometimes called phytobiotics or botanicals. They are manufactured by using plant-based and natural bioactive molecules. There are four major types of phytogenic feed additives viz. saponins, flavonoids, essential oils, and tannins. Saponins, essential oils, and tannins are commonly used for production of poultry.

Market Dynamics:

The key factor driving the growth of the phytogenic feed additives market is changing consumer perception towards the quality of poultry products. Consumers are looking and preferring for healthy and disease free poultry food. In addition, product advancement such as encapsulated technology has strengthened the capability of phytogenic feed additives, which is another factor expected to boost market growth in coming years.

However, fluctuating cost of ingredients used in phytogenic feed additives may affect market growth to a certain extent. Nevertheless, growing awareness about the use of naturally sourced solutions in food nutrition of pet animals is expected to further support growth of the global phytogenic feed additives market.

Recent Development:

Rising focus on product launches by key players is a key trend observed in the global market. For instance, Delacon Biotechnik GmbH launched its new product BioStrong Comfort in the US and Canadian markets. This product contains plant-derived antioxidants and was developed to reduce the effects of thermal stress under high temperature and high humidity conditions.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounts for the major revenue share in 2019, owing to strict regulations regarding use of synthetic food additives coupled with ban on growth promoting antibiotics. The market in Asia Pacific is expected to witness considerable growth during the forecast period owing to growing consumer base for poultry products in the region.

Scope of the Report:

Detailed Segmentation:

Global Phytogenic Feed Additives Market, By Type

• Essential oils
• Flavonoids
• Saponins
• Oleoresins
• Others

Global Phytogenic Feed Additives Market, By End User:

• Poultry Owners
• Poultry Shops
• Others

Global Phytogenic Feed Additives Market, By Packaging Type

• Flexible Packaging
• Rigid Packaging
• Trays
• Boxes/cartons
• Chubbs
• Others

Global Phytogenic Feed Additives Market, By Distribution Channel

• Online Retailing
• Offline Retailing

Key Players Covered:

Key players operating in the global market includes, Delacon Biotechnik GmbH, Bluestar Adisseo Co., Ltd., Cargill Inc., BIOMIN Holding GmbH, Natural Remedies, DuPont de Nemours, Inc., Synthite Industries Ltd., Adisseo Co., Ltd., and Tolsa, S.A.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Phytogenic Feed Additives Market by type, end user, packaging type, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global phytogenic feed additives market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.