The Europe feed phytogenics market was valued at USD 192.45 Million in 2023 and is anticipated to reach USD 204.56 million in 2024 from USD 333.23 million by 2032, estimated to be growing at a CAGR of 6.29%, from 2024 to 2032. Progress in the animal feed industry has resulted in the feed phytogenics market growing at a substantial rate.
Phytogenics are a set of natural growth promoters (NGPs) utilized as feed additives obtained from herbs, spices, or other plants. They are generally viewed as favourable substitutes to antibiotic growth promoters (AGPs) in livestock production. Essential oils signify a concentrated form of phytogenics, comprising of mainly the active ingredients of the plants.
The growth of the Europe feed phytogenics market is majorly driven by factors such as high demand for nutritious feed and viable animal nutrition products, environmental concerns over animal waste pollution, rising intake of meat, and management of feed operating cost. However, the lack of efficiency of these compounds due to their intricate nature combined with the unlikeable taste or odor of particular substances may hinder demand and affect the market price movement. Particular compounds such as essential oils are unstable in nature, which can cause quick evaporation and cause disparity in the final concentration of feed products.
Essential oils lead the feed phytogenics market and are also projected to grow at the highest CAGR during the forecast period. This is due to the extensive range of health benefits provided such as gut health support, antibiotic cutback, and healthy ingestion in poultry.
Under this segment, Poultry leads the market accounting for more than 35% of the market share. However, calf is projected to be the fastest growing segment with a CAGR of 7.8%, as they protect them from scours, diarrhoea and other gastrointestinal discrepancies.
Europe is the main market for feed phytogenics in terms of intake. The prospects of the market in Europe are very bright because several governments are gradually turning their attention towards feed cost reduction and enhancement of animal productivity. Spain, U.K and France are the key markets accounting for around 55% of the market share. The feed phytogenic market in Russia is in a growing stage and the intake of feed is projected to grow at a strong rate during the forecast period. Normalization and regulatory initiatives from the EU are also influencing the growth in the eastern and central parts of Europe.
The major players in the market are fixated on broadening their distribution networks to cater to the wider market. The major companies dominating the Feed Phytogenics market in this region are Cargill Inc., DuPont, Biomin, Pancosma SA, and Delacon Biotechnik.
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