Market Leaders : Cargill and ADM are Focusing on Expanding their business to Consolidate their position in the Phytogenic Feed Additives Market
The global phytogenic feed additives market is estimated to be valued at USD 864 million in 2022. It is projected to reach USD 1,223 million by 2027, with a CAGR of 7.2%, in terms of value between 2022 and 2027. The phytogenics cater to a large number of livestock animals such as poultry, swine, ruminants, aquatic animals, and other animals including pets and equines and their demand have been increasing across the various feed industries in recent years owing to the rise in demand for natural additives to enhance livestock performance.
Key players in this market include Cargill (US), ADM (US), DuPont (US), DSM N.V. (Netherlands), Land O’ Lakes (US), Adisseo (France), Nutreco (Netherlands), Kemin Industries (US), Natural Remedies (India), and Nor Feed (France) among others.
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The key players are focusing heavily on improving their market shares, while their newer start-ups are being established rapidly in the market. The phytogenic feed additives market can be classified as a competitive market with the top ten players accounting for a market share of 45-50%, at present at the global level. There are numerous local players in the form of existing and emerging companies in several countries, particularly in Asian markets.
Cargill (US) is one of the leading global food and animal nutrition companies, based in US. The company is a market leader in phytogenic feed addtives industry which has a host of product offerings that cater to a range of livestock animals such as swine, poultry, ruminants and aquaculture. The company caters to the phytogenic feed addtives by developing naturally sourced products, and has been continuously engaging in launching new products and enhancing their R&D capabilities to consolidate their position in the industry. The company has also been focusing on strengthening their manufacturing and distribution capabilities in US market by estabilishing new manufacturing facilities that would also enable them to improve on quality.
ADM (US) is a multinational company and a market leader in animal nutrition and is among the key players in the phytogenic feed additives industry. The company has a strong geographical presence across 75 countries with a supreme distribution network which is supported by manufacturing facilities in five countries namely, Canada, China, France, Brazil and Switzerland. The company caters specifically to the phytogenics feed additives industry with its products that are focused towards improving and supporting the health and growth of feed animals. The company caters specifically to the poultry and ruminants with its products and has been continuously expanding their production capabilities to cater to the rising demand in the industry.
Related Reports:
Phytogenic Feed Additives Market by Type (Essential Oils, Flavonoids, Saponins, and Oleoresins), Livestock (Poultry, Swine, Ruminants, and Aquatic Animals), Source, Form, Function, Packaging and Region - Global Forecast to 2027
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