Essential Oils & Plant Extract for Livestock Industry Overview
The global essential oils & plant extract for livestock market are expected to reach USD 4.95 billion by 2030 at a 7.3% CAGR over the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by rising attention toward animal health and its nutrition. These products are used as additives for improving the quality of feed, eventually improving the performance and overall health of the animals.
Various factors such as growing meat consumption, increasing disposable income, and rising population, are anticipated to positively contribute to the demand for essential oils & plant extracts for the livestock market. These natural products help in providing various benefits such as increased yield, better gut health, and increased immunity. Several industry participants are using these products to improve animal performance and to obtain high yields.
Essential Oils & Plant Extract for Livestock Market Segmentation
Grand View Research has segmented the global essential oils & plant extract for livestock market report based on product, form, function, livestock, and region:
Based on the Product Insights, the market is segmented into Essential Oils and Plant Extracts
- Plant extracts dominated the market with a high revenue share of more than 79% in 2021. This is attributed to its properties like the stimulation of the immune system in animals, enhanced nutrient utilization, and better water and food absorption.
- Botanical herbs and extracts are gaining importance as animal feed additives due to the ban on dietary antimicrobial agents and reduction in the use of antibiotic growth promoters.
- Essential oils are organic compounds that are volatile with a delicate balance of beneficial minerals, vitamins, and other components.
Based on the Form Insights, the market is segmented into Liquid and Solid
- Solid form dominated the market with a high revenue share of more than 62% in 2021. This is attributed to its high digestibility property in farm animals. In addition, these products are soluble in liquid, which eventually helps in cost-saving, and makes feed delivery methods more efficient.
- Essential oils & plant extract-based liquid feed supplements provide benefits to animal producers which include increased safety margin, ease of fat addition, greater vitamin stability, lower equipment cost, reduced supplement shrinks, less feed waste, and increased forage intake & utilization.
Based on the Function Insights, the market is segmented into Gut Health, Immunity, Yields, and Others
- Gut health dominated the market with the highest revenue share of over 36% in 2021. This is attributed to the shift in focus of farmers and feed manufacturers to improve the performance as well as gut health of animals.
- A product portfolio that suits the customized needs of livestock producers, the development of efficient carrier mediums for better delivery in the intestinal tract, and essential oil blends along with plant extracts for livestock are anticipated to benefit the segment growth during the forecast period.
Based on the Livestock Insights, the market is segmented into Cattle Feed, Poultry Feed, Swine Feed, Aquatic Feed, and Others
- Poultry feed dominated the market with a high revenue share of more than 37% in 2021. This is attributed to the increased demand for high-quality poultry meat due to the rise in awareness about poultry health care diseases.
- The inclusion of essential oils & plant extracts in swine feed is done extensively by meat producers to improve meat quality and boost immunity. With rising trade, the demand for feed additives for swine is anticipated to increase due to rising concerns over safety and meat quality.
- The demand for fish and fish-based products is rising globally. This rise in per capita fish consumption has contributed to increasing demand for fish farming. This, in turn, is propelling the demand for feed and additives supplements in the seafood market.
Essential Oils & Plant Extract for Livestock Regional Outlook
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The essential oils and plant extracts for the livestock market are highly competitive in nature with various players catering to the rising need of different end-use industries. Key manufacturers are involved in the development of innovative products which cater to the specific needs of the consumers. All the major market players aim to gain a strategic and competitive advantage over others. Product quality is one of the main factors that the company focuses on. The quality of the final product depends upon the raw materials, and hence, the procurement process of raw materials is very crucial.
Some prominent players in the global Essential Oils & Plant Extract for Livestock market include:
- Manghebati
- Indian Herbs Specialties Pvt.Ltd.
- Orffa
- Herbavita
- Herbarom Laboratoire
- Olmix S.A.
- Panagro Health & Nutrition
- Provitim
- Phytosynthese
- Trouw Nutrition Hifeed BV
- DSM N.V.
Order a free sample PDF of the Essential Oils & Plant Extract for Livestock Market Intelligence Study, published by Grand View Research.
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