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Description
Phytogenic Feed Additives Market size was valued at USD 810.21 billion in 2021, It is growing at a CAGR of 9.5% from 2022-2028. Feed photogenic are the wide variety of plant-derived products like spices, herbs, and products used to feed animals in order to improve the performance of agricultural livestock. The photogenic feed compounds possess an antioxidant property that contributes to the protection of feed lipids from oxidative damage. Some of the other beneficial properties of feed phytogenic are antiviral, antifungal, antimicrobial, etc. Feed phytogenic are widely available as dried and ground materials, extracts or essential oils. Rising concerns relating to antibiotic growth promoters has resulted into a shift towards the use of alternate growth-promoting agents in animal nutrition. Phytogenic Feed Additives market id moderately competitive and less concentrated due to the presence of few firms. Companies are adopting various growth strategies such as new product developments and launches, acquisitions, collaborations, agreements etc. to ensure their presence in the market. Feed palatability enhancers are gaining a substantial position in Phytogenic Feed Additives as they highly influential in increasing food intake in animals. The use of essential oils as Phytogenic Feed Additives in animal feed is also increasing as its substitute’s antibiotic growth promoters are banned as feed additives in EU since 2006 and by U.S.FDA by December 2016. In 2017 July, Delacon and Cargill entered into a strategic partnership to produce and market natural and plant based feed additives on global scale. In 2017 March, Biomin launched its innovative next generation feed phytogenic Digestarom.
