Lucintel Forecasts Phytogenic Feed Additive Market to Reach $1.1 Billion by 2028

Category: Business

According to the recent study the phytogenic feed additive market is projected to reach an estimated $1.1 billion by 2028 from $0.7 billion in 2023, at a CAGR of 8% from 2023 to 2028. Growth in this market is primarily driven by rising prevalence of zoonotic diseases, growing need for animal digestibility enhancers, and increasing demand for high quality dairy and poultry products. A more than 150 – page report is developed to understand trends, opportunities and forecast in phytogenic feed additive market by product type (essential oils, flavonoids, saponins, oleoresins, and others), livestock (poultry, swine, ruminants, aquatic animals and others), function (performance enhancers, antimicrobial properties, palatability enhancers, and other), source (herbs & spices, fruits & vegetables, and flowers), and region (North America, Europe, Asia Pacific, and the Rest of the World). Download sample report by clicking on below link https://www.lucintel.com/phytogenic-feed-additive-market.aspx “Poultry market is expected to remain the largest segment during the forecast period.” Based on livestock, the phytogenic feed additive market is segmented into poultry, swine, ruminants, aquatic animals and others. Lucintel forecasts that the poultry market is expected to remain the largest segment due to presence of large numbers of birds raised in relatively small spaces and increasing demand for egg and poultry meat. “Within the phytogenic feed additive market, the fruit & vegetable segment is expected to remain the largest source” Based on source the fruit & vegetable segment is expected to witness the highest growth over the forecast period as fruits and vegetables are primarily used in phytogenic feed additive for extracting essential oils, flavonoids and saponins, which are considered an excellent source for phytogenic additive. “Europe will dominate the phytogenic feed additive market in near future” Europe will remain the largest region due to the increasing livestock production, rise in awareness regarding health and wellness of livestock and ban on the use of AGP in the region. Download Brochure of this report by clicking on https://www.lucintel.com/phytogenic-feed-additive-market.aspx Major players of phytogenic feed additive market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Cargill, ADM, DuPont, DSM N.V., Land O’ Lakes, Adisseo, Nutreco, Kemin Industries, Natural Remedies, and Nor Feed are among the major phytogenic feed additive providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/phytogenic-feed-additive-market.aspx or helpdesk@lucintel.com