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Minimal Oversight Allows Companies to Flood Phytogenic Feed Additives Market With Duplicates

A dearth of robust patent laws, regulatory frameworks, and security mechanisms is poised to be the biggest restraint in the phytogenic feed additives market over the forecast period. A lack of regulation has resulted in a proliferation of duplicate phytogenic feed additives that do more harm than good. Manufacturers seeking to capture a large chunk of the phytogenic feed additives market offer inferior quality products in a race to outdo themselves and grab consumer attention.

COVID-19 Concerns Have Forced Animal Growers to Invest in Phytogenic Feed Additives

In 2006, the EU prohibited the use of antimicrobial substances as growth stimulants and laid down stringent guidelines on the usage of synthetic additives such as phytogenic feed. In addition, COVID-19 has made consumers wary about the meat they consume and its origin as the virus is hypothesized to be zoonotic in nature. Thus, consumers are looking for grass-fed, organically grown, GMO feed free animals. All these factors generate the need for natural options such as phytogenic feed additives. Major livestock producing nations such as Australia, Mexico, China, and the US hold limitless potential for key stakeholders in the phytogenic feed additives market.

Medicinal Properties of Essential Oils Explain Their Popularity in Phytogenic Feed Additives Market

In 2019, the essential oil segment had the greatest value share of the phytogenic feed additive market. Essential oils are reputed to have medicinal properties such as boosting gut health and immunity. As they are plant-based, they add an appealing flavour to phytogenic feed additives. The poultry and pork segment account for the largest market share in the phytogenic feed additives market. A shift in consumer preferences towards healthier meat along with greater trade in pork products is predicted to drive demand in the phytogenic feed additives market until 2025.

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Feed Producers Entering Into Agreements to Secure Competitive Position in Phytogenic Feed Additives Market

In October 2020, Cargill Incorporated entered into an agreement with BinSentry to make feed monitoring more efficient and safer for feed mills and animal producers. BinSentry’s solution accurately tracks feed inventory with LiDAR sensors every four hours and installs in less than ten minutes. According to Cargill’s MD of animal nutrition, the integration of the two platforms should aid feed mills, animal producers, and customers get the ideal feed additive for specific animal groupings. Other companies profiled in the report on the phytogenic feed additives market include Tolsa, S.A, Miavit GmbH, A/B Technologies International, Inc., Delacon Biotechnik GmbH, Dostofarm GmbH, Phytobiotics Futterzusatzstoffe GmbH, BIOMIN Holding GmbH, Kemin Industries Inc and Silvateam S.p.A. among others.

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