The Essential Oils And Plant Extracts Market for Livestock market is experiencing significant growth, driven by increasing attention to animal health and nutrition. These natural additives are incorporated into animal feed to enhance performance, improve gut health, and boost immunity.
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Market Overview:
Market Size and Growth: The global market was estimated at USD 2.7 billion in 2023 and is projected to reach USD 4.2 billion by 2030, with a compound annual growth rate (CAGR) of 6.2% during the forecast period.
Key Drivers:
Rising Meat Consumption: An increasing global population and higher disposable incomes are leading to greater meat consumption, necessitating improved livestock productivity.
Focus on Animal Health: There's a growing emphasis on enhancing animal health and performance through natural feed additives.
Antibiotic Alternatives: The shift towards natural growth promoters as alternatives to antibiotics is propelling market growth.
Market Segmentation:
By Product Type:
Essential Oils: Derived from plants, these oils are used for their therapeutic properties.
Plant Extracts: Include various botanical extracts utilized for their health benefits in livestock feed.
By Form:
Liquid: Preferred for ease of mixing with feed and water.
Solid: Offers flexibility in formulation and is favored by producers.
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By Function:
Gut Health: Aims to improve digestion and nutrient absorption.
Immunity: Focuses on enhancing the animal's immune system.
Yield Enhancement: Targets increased productivity and growth rates.
By Livestock:
Poultry: Extensive use to improve yield and health.
Cattle: Incorporation to enhance milk production and overall health.
Swine: Utilized to boost growth performance and health.
Aquatic Feed: Applied in aquaculture to improve fish health and growth.
Regional Insights:
Asia Pacific: Emerging as the fastest-growing market, with a high growth rate of 7.6%, driven by increasing meat consumption and population growth.
North America and Europe: Established markets with steady growth, focusing on sustainable and natural feed additives.
Competitive Landscape:
Key players in the 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.
- Novus International, Inc.
- Kemin Industries, Inc.
- Danisco
- IDENA SAS
- Joh. Vogele KG
- Delacon Biotechnik GmbH
- Sensnutrition
- Laboratoires Phode
- Amorvet Animal Health Pvt. Ltd.
Scope of the Report:
This report provides a comprehensive analysis of the Essential Oils and Plant Extracts for Livestock market, including market size, growth projections, key drivers, challenges, and opportunities. It offers detailed segmentation by product type, form, function, livestock, and region, along with insights into the competitive landscape and strategic developments within the industry.
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