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$1,371.8 million by 2032. The Phytogenic market was valued at US$ 864.2 million at the end of 2021 and is anticipated to exhibit CAGR growth of 3.2% from 2016 to 2021.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | US$ 891.9 million |
| Market Forecast Value in 2032 | US$1,371.8 million |
| Global Growth Rate (2022 to 2032) | 4.4% CAGR |
| Forecast Period | 2022 to 2032 |
| Market Share of The United Kingdom in Europe | 5.3% |
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The term feed additives refer to dietary supplements used in animal nutrition to improve the quality of the feed and food given to the animal. Utilizing phytogenic can improve the quality of feed additives. Phytogenics are a diverse range of natural compounds that are used as antibiotic-free feed additives.
Phytogenics are also referred to as natural growth promoters (NGPs), which are fed to animals. These phytogenic are generated from various plants and their related extracts, including essential oils, spices, herbs, leaves, and roots. The advantages of utilizing phytogenic feed additives include increased feed intake, a reduction in the incidence of diarrhea, stimulation of digestion, enhanced performance, and improved reproductive parameters. Since phytogenic are derived from essential oils, they can be found in dry, solid, and ground forms. Encapsulation, a development in technology, extends the shelf life of phytogenic and shields them from drastic climatic fluctuations.
The production efficiency and productivity of animals may be improved via phytogenic. Additionally, it can promote gut health and antibacterial and palatability properties.
A new report published by Future market insights, titled, Phytogenics Market - Global Opportunity Analysis and Industry Forecast, 2022 to 2032, projects the global Phytogenic market to reach US$ 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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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.
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.
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.
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.
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.
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.
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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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.
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.
| 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 |
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| Key Countries Covered |
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| Key Segments Covered |
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| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Phytogenic market will reach a valuation of US$ 891.9 million by the end of 2022.
The global Phytogenic market is forecasted to surpass US$ 1,371.8 million by the end of 2032.
The USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Phytogenic Market.
The USA Phytogenics Market is contributing 32.8% of the total value share in the global market.
The Germany Phytogenics Market is contributing 25.0% of total value share in global market.
In Japan Phytogenics Market is contributing 9.5% of total market share which values in year 2022.
In India Phytogenics Market is contributing 3.9% of CAGR for latest period.
In China Phytogenics Market is contributing 4.4% of CAGR for latest period.
In Australia Phytogenics Market is contributing 3.0% of total value share in global market.
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Phytogenic Market
