The Europe Feed Phytogenics Market was worth USD 170.35 Million in 2021 and estimated to be growing at a CAGR of 6.29%, to reach USD 280.82 Million by 2026. 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, lack of efficiency of these compounds due to their intricate nature combined with the unlikeable taste or odour 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 causing disparity in 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.
The Europe market has been geographically segmented into
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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