Market Overview:
Natural ingredients are used as ingredients in animal feed formulations as plant-based feed additives, also referred to as phytogenic or botanical feed additives. These compounds, which are often sourced from herbs, spices, and several other plant sources, are becoming more and more important in animal nutrition. The study contains a variety of plant-based feed additives, including tannins, flavonoids, oleoresins, mucilage’s, bitter and pungent compounds, and essential oils.
Compounds derived from plants, known as plant-based feed additives, provide animal diets with bioactive and organoleptic qualities that improve health, welfare, and performance while also reducing the amount of antibiotics used in animal feed additives.
Market Size and Growth Rate:
The Global "Plant-Based Feed Additives Market" is Predicted to reach at a high CAGR during the forecast period (2023-2030).
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Market Drivers: The rising production of animal feed is driving the plant-based feed additives market
Antibiotic-free feed is a novel and rapidly growing category in the global animal nutrition market. The demand for plant-based additives is burgeoning in the feed production industry owing to wide range of animal health benefits and interest from animal growers. The rising production of animal feed is expected to drive the plant-based feed additives market, due to the accelerated performance and efficiency, and health-induced benefits of plant-based feed in animals.
As per the Alltech report published on a feed survey in 2018, global feed production has surged up to 1,069.7 million metric tons in 2018 from 871 million metric tons, the demand for superior quality dairy products and meat and growing popularity for natural ingredients for animal feed is estimated to propel the demand of the global plant-based feed additives market. The multinational firms have increased in the massive scientific research in the plant-based additives market is estimated to create a new opportunity for the plant-based feed additives market in the coming years.
Market Opportunities: Growing Consumer Demand for Sustainable Products and Animal Welfare Ethical Considerations
Emphasize the increasing global awareness and demand for sustainable and eco-friendly products. Plant-based feed additives align with this trend as they are sourced from renewable resources and reduce the environmental impact of animal agriculture. Emphasize the growing awareness of animal welfare and how plant-based feed additives can contribute to more humane farming practices, which can be a key selling point for consumers.
Market Trends: Rising Demand for Natural Growth Promoters and Reduction of Antibiotic Usage
Consumers and producers are increasingly looking for natural alternatives to traditional growth promoters like antibiotics. Plant-based feed additives, such as botanicals and essential oils, are gaining popularity for their potential to improve animal health and growth. In response to concerns about antibiotic resistance, regulatory bodies and producers are working to reduce antibiotic use in animal farming. Plant-based feed additives are a viable solution to maintain animal health without relying on antibiotics.
Market Segmentation Analysis:
The global plant-based feed additives market is segmented by source into flowers, herbs spices, fruits vegetables; by type into flavonoids, essential oils, oleoresins, saponins; and by livestock into swine, poultry, aquatic animals, and ruminants.
The herbs spices segment is expected to dominate the market
Based on Source, aromatic substances and essential oils are mainly produced from herbs spices. Herbs spices have earned broad attention in the animal feed industry for a while owing to their flavors and medicinal properties and the prohibition of using some antibiotics as growth promoters in animal feeds. Herbs spices are also getting value, as they do not have any side effects on animals, for long-term usage.
Several research studies have approved the antimicrobial and antioxidative efficiency of herbs spices for animal feed. Research has indicated that certain plant resources improve the palatability of the feed. They stimulate healthy digestion of the cattle and animals, have anti-inflammatory things, and act as antioxidants, immunostimulants, and antimicrobials when added as plant-based feed additives in animal supplements.
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Geographical Analysis:
The global Plant-Based Feed Additives Market is analyzed across North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
Asia Pacific is the largest market for plant-based feed additives market.
By geography, The Asia Pacific is expected to be the dominating region for the global plant-based feed additives market in 2020 and is expected to continue its dominance over the forecast period. Owing to the presence of a huge livestock population and its rising growth.
Moreover, the region has observed a rise in the number of feed production and feed mills, especially in countries including Japan and India. Rising the sum of feed mills in the Asia Pacific indicates the expansion in feed production. China is the largest manufacturer of animal feed which contributes substantially to the region’s leading position, along with emerging feed-producing countries such as Indonesia and Thailand. India and Japan are expected to witness steady growth of plant-based feed production.
The prohibition on the application of antibiotics in animal feed is anticipated to propel the European-based feed additives market. Additionally, the stringent regulations enforced on synthetic feed additives enhance the growth of the European market within the projected years.
Competitive Landscape:
A few of the key players in the market are
Delacon Biotechnik GmbH
Silvateam S.p.A.
BIOMIN Holding GmbH
DuPont
IGUSOL S.A.
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