MARKET REPORT FEED & ADDITIVE MAGAZINE April 2022 61 performance improvements. The advantages of utilizing phytogenics in feed include rise in feed consumption, decline in the frequency of thin bowels in animals, and upgrade in feed proficiency. Phytogenic feed additives have potential antimicrobial properties other than providing anti-oxidative effects. These animal feed additives also help in improving growth by enhancing palatability as well as improving gut functioning for increased food intake. Phytogenics are available in dried, strong and ground structure as it is expelled from crucial oil. The advancement in the technology such as encapsulation helps in extending phytogenics shelf life and protects them from extreme environmental climate changes. MARKET GROWTH EXPECTATIONS Market research companies make current situation forecasts and provide forecasts for the future in their reports on the phytogenic feed additives market. In most of these reports, the size of the market in 2020 is estimated at around USD 750 million. The growth potential is around 7 percent. For example, according to the Phytogenic Feed Additives Market report by Markets and Markets; the global phytogenic feed additives market size is estimated to be USD 753 million in 2020 and is projected to reach USD 1,098 million by 2025, at a CAGR of 7.8% during the forecast period. MarketResearch.com, on the other hand, in its report entitled 'Global Phytogenic Feed Additives Market' covering the period 2021-27, explains that the market is valued at approximately USD 0.75 billion in 2020 and is anticipated to growth rate of more than 7.8% over the forecast period 2021-2027. MARKET DRIVERS Currently, the global phytogenic feed additives market is observing vibrant growth owing to increasing demand of animal digestibility enhancers in the market. According to Research Nester's report “Phytogenic Feed Additives Market”, the rising demand for phytogenic feed additives for various applications in dairy, poultry, aquaculture industries are expected to drive the market rapid over the 2018-2027 forecast period. The growing R&D activity associated to phytogenic feed additives is expected to further increase the market growth owing to discovery of new applications of phytobiotics with technological advancements. Application of phytogenic feed additives in the improvement of gut function by stimulatory effect on digestive secretions such as enzymes, bile, and mucus by phytogenic substances to improve animal growth and quality is estimated to serve as a major factor in the growth of phytogenic feed additives market. Increased feed intake also helps in increasing the quality of animals on account of increased palatability of the diet due to enhanced odor and flavors of feed.
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