Global Phytogenic Feed Additives Market Size, Share, Growth Analysis, By Form(Dry and liquid), By Type(Essential oils, herbs & spices) - Industry Forecast 2024-2031

Phytogenic Feed Additives Market size was valued at USD 867.07 million in 2019 and is poised to grow from USD 940 million in 2023 to USD 1780 million by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The Global Phytogenic Feed Additives Market was highly competitive, with a number of established and emerging players competing for market share. Overall, the global phytogenic feed additives market was characterized by intense competition, with companies investing in research and development to create innovative products and solutions to meet the growing demand for natural and sustainable animal feed solutions. 'Cargill, Inc.', 'DuPont de Nemours, Inc.', 'Archer Daniels Midland Company', 'Kemin Industries, Inc.', 'BIOMIN Holding GmbH', 'Phytobiotics Futterzusatzstoffe GmbH', 'Pancosma S.A.', 'Delacon Biotechnik GmbH', 'Alltech, Inc.', 'Nutreco N.V.', 'Perstorp Holding AB', 'Chr. Hansen Holding A/S', 'Danisco Animal Nutrition', 'BioResource International, Inc.', 'Nor-Feed Sud SAS', 'Synthite Industries Ltd.', 'Pure Green, Inc.', 'Phytoceuticals International AG', 'Lallemand, Inc.', 'Natural Remedies Pvt. Ltd.'

The demand for natural and organic food products is increasing globally, which is driving the demand for phytogenic feed additives as they are natural and organic in nature.

Rising demand for meat and dairy products: The increasing population and rising disposable incomes have led to an increase in demand for meat and dairy products, which in turn has increased the demand for phytogenic feed additives. These additives are used to enhance the growth and productivity of livestock and improve the quality of meat and dairy products.

The Asia Pacific region is the largest and fastest-growing market for phytogenic feed additives globally. This growth is attributed to several factors, including the increasing demand for meat and dairy products, the growing concern for animal health and welfare, and the rise in consumer awareness about the benefits of using natural and organic feed additives. China is the largest market for phytogenic feed additives in the Asia Pacific region, due to the presence of a large number of feed manufacturers and livestock producers in the country. The Chinese government's focus on improving animal health and productivity is also driving the growth of the market in the country. India is another significant market in the region, owing to the increasing demand for meat and dairy products in the country, and the government's initiatives to improve animal health and welfare. Other countries such as Japan, South Korea, and Australia are also witnessing significant growth in the phytogenic feed additives market. The rising awareness about the benefits of using natural and organic feed additives, and the increasing demand for high-quality animal products in these countries, are driving the growth of the market. In conclusion, the Asia Pacific region is expected to continue to dominate the global phytogenic feed additives market during the forecast period, owing to the increasing demand for meat and dairy products, the growing awareness about the benefits of using natural and organic feed additives, and the presence of several key players in the region.