The North America feed phytogenics market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 3.3% during 2023–2031. The growth of the market is attributed to the increasing production of meat products.
Feed phytogenics are plant-based nutrients that are fed to animal diets with the aim to improve animal performance. These are natural bioactive compounds with positively impact animal growth. Feed phytogenics are used for the purpose of antimicrobial effect, digestibility enhancement, and performance improvement. The benefit includes cost reduction and integration of technological innovations.
The challenge that is faced by manufacturers is the right mixture of natural substances while fully exploiting the energy of the animals among their active ingredients. Major animal feed corporations are focusing on sustainable products.
North America Feed Phytogenics Market Trends, Drivers, Restraints, and Opportunities
- Rising concerns regarding animal health and feed quality are expected to drive the market.
- Growing research & development (R&D) expenditure in the agriculture sector is expected to propel the market.
- Closure of restaurants and meat shops due to the COVID-19 outbreak decreased the demand for feed phytogenics is expected to hamper the market.
- Increasing awareness of side effects is anticipated to impede the market.
- Expanding applications of phytogenics in pet foods and medicines for treating allergies in animals are projected to impact the market in the projected timeline.
Scope of North America Feed Phytogenics Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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North America Feed Phytogenics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Ingredient (Herbs and Species, Essential Oils, and Other Ingredients), Application (Feed Intake and Digestibility, Flavoring and Aroma, and Other Applications), and Animal Type (Ruminant, Poultry, Swine, and Other Types)
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Geographical Scope
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The US, Canada, Mexico, and Rest of the North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Biomin; Delacon Biotechnik; Danisco; Pancosma SA; and Igusol
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North America Feed Phytogenics Market Segment Insights
Based on ingredient, the market is divided into herbs and species, essential oils, and other ingredients. The essential oils segment is anticipated to expand at a rapid pace during the forecast period, owing to the easy availability of natural compounds. However, the herbs and spices segment is anticipated to hold a key share of the market in the coming years owing to the low cost of fresh herbs and spices.
On the basis of application, the market is segregated into feed intake and digestibility, flavoring and aroma, and other applications. The feed intake and digestibility segment is projected to expand at a considerable CAGR during the forecast period owing, to the increasing production of animal meat. On the other hand, the flavoring and aroma segment is anticipated to account for a major market share during the forecast period, due to an increasing preference for taste among animals.
In terms of animal type, the market is segregated into ruminant, poultry, swine, and other types. The poultry segment is projected to expand at a considerable CAGR during the forecast period, owing to the growing demand for chicken-based meat products.
In terms of geography, the market is classified as the US, Canada, Mexico, and Rest of the North America. The US is expected to constitute a key share of the market during the projected period, owing to the high population of poultry and livestock available. However, Canada is anticipated to expand at a rapid pace during the forecast period owing to growing protein intake among the people of Canada.
Segments
The North America feed phytogenics market has been segmented on the basis of
Ingredient
- Herbs and Species
- Essential Oils
- Other Ingredients
Application
- Feed Intake and Digestibility
- Flavoring and Aroma
- Other Applications
Animal Type
- Ruminant
- Poultry
- Swine
- Other Types
Geography
- The US
- Mexico
- Canada
- Rest of the North America
Key Players
Competitive Landscape
Key players competing in the North America feed phytogenics market are Biomin; Delacon Biotechnik; Danisco; Pancosma SA; and Igusol.
In October 2020, Biomin, a specialty animal nutrition and health business, completed the acquisition of Royal DSM, a global science-based company in nutrition, health, and sustainable living.
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