Asia Pacific Feed Phytogenics Market - Growth, Trends and Forecasts (2020 - 2025)

The Asia pacific feed phytogenics market is projected to register a CAGR of 7.5% during the forecast period 2020-2025. Modern animal productivity has decreased and is facing several problems in developing regions like Asia-Pacific. The increasing demand for animal products and volatile prices for the raw materials required for the implementation of optimum production conditions is driving the need for Phytogenics. Feed additives, especially Phytogenics, due to naturally derived, have gained a considerable attention in the feed industry. Asia-Pacific is the fastest-growing market for feed phytogenics with Vietnam, Indonesia, and India majorly contributing to the demand in the region.

Key Market Trends

Increased Compound Feed Production

Asia-Pacific is becoming an attractive market for phytogenic feed manufacturers. As increased intake of animal protein and growing awareness of natural feed additives. The demand for safe human food and mass production of meat has received considerable attention to the importance of feed additives. The dietary insertion of these additives has a positive effect on the animal health, as they are mixed with other feed additives with nutritional value that help in proliferation of indigenous lactic acid bacteria. The rising demand for animal products such as meat and eggs and environmental concerns over animal waste pollution are some of the major factors indicating a positive outlook for the feed phytogenics. Poultry is the major consumer of feed phytogenics. The need for superior quality meat and dairy products from health enthusiasts and increasing popularity for natural ingredients in pet food are further leading producers to capture the untapped profits in the phytogenic industry.

Increased Industrial Livestock Production

As per the Food and Agriculture Organization, the volume of meat production in Asia has significantly increased over the years accounting for 143.6 million tonnes in the year 2018 up from 139.4 million tonnes in 2016 denoting an ever-increasing demand for meat products in the region. Hence the farmers focus more on the production of quality meat for the customers. The replacement strategy for antibiotic growth promoters and the absence of harmful residues in plant-based additives are majorly driving the demand for feed phytogenics in the Asia-Pacific belt. Vietnam, and Indonesia, among the top feed producing countries in the region, passed respective decrees prohibiting the use of antibiotics for animal growth promotion in early 2017. The use of antibiotics by producers to artificially fatten livestock is also facing a recommendation for a ban in India from the National Antimicrobial Resistance Action Plan committee, thereby fuelling the growth for natural additives like phytogenics in the Indian market.

Competitive Landscape

The feed photogenic market is highly fragmented with the presence of many small and medium-sized companies and a few international players competing in the market. Some of the players in the market are Cargill, Incorporated, DuPont, Adisseo, Biomin GmbH, Delacon Biotechnik GmbH, Pancosma, Phytobiotics Futterzusatzstoffe GmbH, NOR-FEED, Phytosynthese, and others. The most adopted strategies of these companies have been strategic partnerships, extensive research and development investments, and mergers and acquisitions.

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