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Feed Phytogenic Market Insights
According to MRFR analysis, the Feed Phytogenic Market is expected to register a CAGR of 6.10% from 2021 to 2028 and hold a value of over USD 1.15 billion by 2028.
The feed phytogenic market refers to the market for natural plant-derived compounds that are used as feed additives for livestock, such as poultry, swine, cattle, and aquaculture. These phytogenic feed additives are derived from various plant sources such as herbs, spices, and other botanicals, and are used to enhance animal performance and overall health by improving digestion, immune function, and reducing stress. Phytogenic feed additives are gaining popularity as an alternative to traditional feed additives such as antibiotics and synthetic growth promoters, which have been linked to antibiotic resistance and negative environmental impacts.
The COVID-19 pandemic has had a mixed impact on the feed phytogenic market. The pandemic has also increased consumer demand for natural and healthy food products, including meat and dairy products from animals that are raised with natural feed additives like phytogenics. This has led to a growing demand for feed phytogenics in some regions, particularly in Europe and North America.
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Regional Analysis
Europe is currently the largest region for the feed phytogenic market, followed by North America and Asia-Pacific. Europe has a well-established animal agriculture industry, which has been increasingly focused on sustainable and natural animal feed practices. This has driven the demand for phytogenic feed additives, as they are seen as a natural alternative to synthetic additives that can have negative environmental impacts.
North America is the second-largest region for the feed phytogenic market, with a significant presence of large animal feed producers and meat processing companies. The growing consumer demand for natural and healthy food products, particularly in the United States, has also driven the demand for phytogenic feed additives in the region.
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Market Segmentation
The Feed Phytogenic Market has been segmented into type and function.
Based on the type, the market has been segmented into essential oils, herbs & spices and oleoresins.
Based on the function, the market has been segmented into performance enhancer and palatability enhancer.
Key Players
Some of the key market players are:
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