MARKET REPORT FEED & ADDITIVE MAGAZINE September 2024 105 PFAs can both positively affect gut health by reducing inflammation and promote faster growth rates and greater weight gain in animals by improving nutrient digestion and absorption. They can also help prevent a variety of health problems such as digestive disorders, respiratory problems and immune system challenges, reducing the occurrence of diseases. PFAs are also heavily favored to reduce reliance on antibiotics. In the past, antibiotic growth promoters (AGPs), which were widely used in animal feeds to improve feed utilization and increase growth rates, led to bacterial resistance problems over time and their use was banned in many regions. Today, PFAs are emerging as a natural alternative to AGPs, contributing to a more sustainable and antibiotic-free animal production. Some PFAs contain essential oils with antioxidant effects that contribute to overall health, enhance the palatability of feed and encourage its consumption, and may also positively affect meat quality attributes such as tenderness, juiciness and flavor. Phytogenic additives also positively affect consumer acceptance of animal foods. Today, many consumers prefer products from animals raised using natural and sustainable practices. Consequently, PFAs offer a promising approach to improve animal health, performance and product quality while promoting sustainability and reducing reliance on synthetic additives. As research continues to explore the potential benefits of these natural compounds, their use in livestock production is expected to increase. PHYTOGENIC FEED ADDITIVES MARKET AND FORECASTS The global phytogenic feed additives market has gained significant growth momentum due to antibiotic restrictions, increase in animal protein consumption, and growing awareness regarding animal health and welfare. Reports from market research companies also support this growth. According to a recent report published by Research and Markets, the phytogenic feed additives market will reach a size of USD 1.12 billion by the end of 2024, up from USD 1.04 billion in 2023. The company forecasts a Compound Annual Growth Rate (CAGR) of 7.25% for the market by 2030, during which the total market value will reach USD 1.70 billion. This optimistic growth outlook is supported by Data Bridge Market Research, which forecasts a market size of approximately USD 940 million for 2023, with the market size growing at a CAGR of 9.2% to reach USD 1.74 billion by 2030. Precision Business Insights makes a similar forecast, pointing to a market size of USD 978 million in 2023, with growth continuing at a CAGR of 7.4% between 2024 and 2030. This represents a market size of over USD 1.6 billion.
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