Essential Oils & Plant Extract For Livestock Market– Statistics And Analysis & Forecast To 2030

Posted by Mrudula Anil Karmarkar on August 23rd, 2022

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 are also acquired from plants and are mostly used for therapeutic purposes. The frequently used way to use these essential oils is aromatherapy. However, as they have a stronger aroma when compared with their extracts, they can have harsh effects on the animals. On the contrary, a combination of a variety of essential oils and plant extracts are being used as additives in animal feed to improve the performance of these animals. Such factors are likely to boost the market growth in the coming years.

Global shut down of warehouses and manufacturing facilities had impacted the market growth of feed additives. The outbreak of the COVID-19 pandemic caused supply chain disruption which eventually resulted in a demand-supply gap, challenges in raw material distribution, distribution, and supply of finished products. The overall effect of the pandemic was also seen in the international trade, exports, and imports. However, by the start of 2021, there has been an increase in the global demand for poultry, aquaculture, and other feed additives. This, in turn, is anticipated to positively impact the essential oils & plant extracts for the livestock market.

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The demand for the product is anticipated to be driven by its wide usability as a catalyst that helps in preventing various diseases as well as improving the feed digestion, vitamin intake, and rate of weight gain.The global essential oils & plant extracts for the livestock market are highly competitive owing to the presence of a number of market participants globally. These companies compete with each other to gain a competitive advantage based on product innovation, raw material procurement, nutritional value, advertising & promotion, convenience, and prices. Manghebati SAS, Indian Herb Specialties Pvt.Ltd., and Olmix S.A., among others, are some of the major manufacturers in the marketplace.

Essential Oils & Plant Extract For Livestock Market Report Highlights

• Plant extracts witnessed a high growth rate of 7.4%, due to, their benefits on animal performance as well as health along with energy and nutrient utilization
• Solid form witnessed the fastest growth rate of more than 7.4%, owing to its advantage of flexibility in formulation. As a result, producers and manufacturers prefer a solid form
• Gut health function witnessed the highest growth rate of 7.6%, as optimal gut health in farm animals is very crucial in the improvement of functionality and sustainability in livestock production
• The poultry feed livestock witnessed the fastest growth rate of approximately 7.5%, owing to the extensive usage of oil & plant extract feed to improve the yield, respiratory system, and gut health in poultry animals
• Asia Pacific region emerged as the fastest growing market with a high growth rate of 7.6%, because of growing imports and consumption of meat by increasing population in the region

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.

Many companies come up with partnerships or agreements with the raw material producers or backward integrate themselves to ensure high quality of raw material. Manufacturers are focusing intensely on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. They are also focusing on innovative products and solutions by the means of product augmentation. The major market players are ensuring a loyal customer base against their product.

Some prominent players in the global essential oils & plant extracts for livestock market include:

• IDENA SAS
• Kemin Industries, Inc.
• Novus International, Inc.
• DSM N.V.
• Trouw Nutrition Hifeed BV
• Phytosynthese
• Provitim
• Panagro Health & Nutrition
• Olmix S.A.
• Herbarom Laboratoire
• Herbavita