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Essential Oils & plant Extract For Livestock market Report 2024
Essential Oils & Plant Extract For Livestock Market Size 2024 And Growth Rate
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The market size is slated to amplify to $4.71 billion in 2028, marking a compound annual growth rate CAGR of 7.7%.” - Oliver Guridham
LONDON, LONDON, UNITED KINGDOM, November 29, 2024 /EINPresswire / -- What Is the Essential Oils & Plant Extract For Livestock Market Size in 2024 And What Growth Rate Can We Expect?
The essential oils & plant extract for livestock market size has been increasing steadily in recent years. The market is expected to grow from $3.27 billion in 2023 to $3.51 billion in 2024 at a compound annual growth rate CAGR of 7.2%. This positive growth in the historic period can be attributed to various factors including traditional and cultural consumption, the demand for plant-based proteins, crop rotation practices, the burgeoning animal feed industry, and global trade and export trends.
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What Does The Growth Forecast Look Like For The Essential Oils & Plant Extract For Livestock Market?
The essential oils & plant extract for livestock market is projected to continue its robust growth into the foreseeable future. The market size is slated to amplify to $4.71 billion in 2028, marking a compound annual growth rate CAGR of 7.7%. Driving this growth in the forecast period are factors such as sustainable agriculture, functional food applications, global food security, the advent of alternative protein sources and climate change resilience. Major trends in the forecast period include the rise of meat alternatives, allergen-free and gluten-free foods, innovations in food processing, clean label products, and technological advancements.
What Are The Key Factors Driving The Growth Of The Essential Oils & Plant Extract For Livestock Market?
Important contributors to the growth of the essential oils & plant extract for livestock market include the escalating demand for livestock products globally. The change in consumption patterns across various countries, the growth in disposable income across both developed and developing nations, and the increasing adoption of livestock products owing to associated health benefits are factors that have mutually contributed to the surge in demand for livestock products globally. This growth in demand for livestock products is expected to augment the consumption of essential oils & plant extracts as livestock producers increasingly lean towards organic sources to maintain their herds.
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Who Are Some Of The Key Industry Players In This Market?
Major companies operating in the Essential Oils & Plant Extract For Livestock market include Kemin Industries Inc., Phytosynthese, Provitim, Olmix S.A., Herbarom Laboratoire, Givaudan, Symrise AG, Sensient Technologies, Kangcare Bioindustry Co. Ltd., Pt. Indesso Aroma, Tokiwa Phytochemical Co. Ltd., Native Extracts Pty. Ltd., Synthite Industries Private Ltd., Martin Bauer GmbH & Co. KG, International Flavours and Fragrances Inc., IDENA SAS, Novus International Inc., Trouw Nutrition, Hifeed BV, Panagro Health & Nutrition, Herbavita, Orffa International Holding B.V., Indian Herbs Specialties Pvt. Ltd., Danisco, Manghebati, BENEO GmbH, Amorvet Animal Health Pvt. Ltd., Laboratoires Phode, Rocky Mountain Oils LLC.
Are There Emerging Trends We Should Be Aware Of In The Essential Oils & Plant Extract For Livestock Market?
Technological advancements are a key trend gaining traction in the Essential Oils & Plant Extract For Livestock market. Several companies operating in this sphere are developing novel products or ground-breaking technologies to solidify their market positioning. For instance, in October 2021, Cargill launched poultry feed integrated with essential oils to maintain healthy poultry herds and optimize egg production.
How Is The Market Segmented?
The market report segmentizes the Essential Oils & Plant Extract For Livestock market into:
1 By Type: Essential Oils, Plant Extracts
2 By Form: Solid/Powder, Liquid
3 By Function: Gut Health, Immunity, Yield
4 By Livestock: Cattle Feed, Poultry Feed, Swine Feed, Aquatic Feed, Other Livestock.
Regional Insights: Where Is Most Of The Market Activity Happening?
In terms of geographic regions, Asia-Pacific was the largest region in the Essential Oils & Plant Extract For Livestock market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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