The feed phytogenics market is growing at a CAGR of 3.5% in

Selbyville, Del., March 28, 2022 (GLOBE NEWSWIRE) — According to the latest report from Global Market Insights Inc., the Phytogenic market for feed was estimated at USD 695 million in 2021 and is expected to exceed $900 million in revenue by 2028, growing at a rate CAGR of 3.5% from 2022 to 2028. The report provides an in-depth assessment of major winning strategies, market size and estimates, competitive landscape, faltering market trends, drivers and opportunities, and major investment pockets.

Phytogenics for feed are widely used as alternative additives to antibiotics, as they promote animal health. They offer various beneficial properties, such as being less toxic, natural and free of residues, for their application in animal feed. High demand for feed additives is expected to drive market growth during the review schedule.

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Oleoresins are solvent-free extracts that contain non-volatile components and provide different flavors. They find wide use in animal feed as digestive and appetite stimulants for the treatment and prevention of some pathological conditions. Increasing demand for feed additives to improve livestock value by overcoming nutrient problems, deficiencies and performance issues is anticipated to drive demand for the product in the coming years. Due to these factors, the oleoresin products segment is estimated to show remarkable progress to reach a valuation of more than USD 165 million by 2028.

On the other hand, the global feed phytogenics market of the essential oils products segment was valued at more than USD 345 million in 2021 and is projected to grow at a solid rate through 2028. This growth is attributed to the ability of essential oils essential for improving animal health performance and increasing feed intake in animals.

Key reasons to Growth of the market for phytogenics for feed:

  1. Predominant absorption of essential oils.
  2. Increased use in animal nutrition.
  3. Growing application in the animal feed sector.
  4. High protagonism to improve the value of cattle.

Forecasts for 2028 show that the ‘pig’ segment will retain its dominance:

In terms of livestock, the pig segment is poised to exceed a valuation of USD 245 million by the end of 2028. Phytogenics in feed can improve feed intake and reduce lactation weight in pigs. They also increase the daily weight gain of the litter and reduce the interval between weaning and first service. These factors are calculated to encourage segmental perspectives in the coming years.

Europe to maintain top status in terms of income:

On the regional spectrum, the European phytogenics for feed market surpassed a valuation of USD 195 million in 2021 and is forecast to see considerable growth with a CAGR of around 3.3% between 2022 and 2028. export, is poised to drive regional market growth on schedule.

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Impact of the COVID-19 pandemic on Phytogenics market for feed:

The outbreak of the new coronavirus negatively affected the production of animal proteins, which in turn affected the production of animal feed. Changes in consumer preferences and supply chain disruptions have resulted in decreased demand for products during the COVID-19 pandemic. However, the increasing focus on accelerating the economic recovery, the decline in COVID cases and the prominent research activities in the sector have helped the phytogenics for feed market to gradually regain its pre-pandemic momentum in recent years.

The main market players:

Key players in the world phytogenic industry for animal feed they include Biomin GmBH, Igusol, Natural Remedies Pvt Ltd, Phytosynthese, Dow DuPont, Nutricare Lifesciences Limited, Nor-Feed and Natural Herbs & Formulations, among others.

About Global Market Insights Inc.

Global Market Insights Inc., based in Delaware, USA, is a provider of global market research and consulting services. By offering custom, syndicated research reports, growth consulting, and business intelligence services, Global Market Insights Inc. aims to help clients with insightful insights and actionable market data that aid in strategic decision-making.

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