The North America Feed Phytogenics Market was worth 151.72 Million in 2021 and estimated to be growing at a CAGR of 5.96%, to reach 201.29 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.
North America Feed Phytogenics Market Drivers:
The growth of the North America 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, the 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 North America market has been geographically segmented into
North America holds third position in the global feed Phytogenics market. With increasing awareness of synthetic additives and adapting the policy of Europe regarding the ban of antibiotics has ensued in the utilization of feed Phytogenics as supplement to antibiotics. The farmers are also moving towards natural and safe additives in feed for increasing the animal performance.
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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