The report of global essential oils and plant extracts for livestock market by Product (Essential Oil, Plant Extract), Form (Liquid, Solid/powder), Function (Gut Health, Immunity, Yield, Other Function), Livestock (Cattle Feed, Poultry Feed, Swine Feed, Aquatic Feed, Others), Application (Aromatherapy, Phytotherapy), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 6.5% during a forecast period.
Essential oils and plant extracts are mainly used as a significant animal feed ingredient that supports to increase the quality of feed, which has a positive impact on the overall health and performance of animals. The global essential oils and plant extracts for the livestock market is driven by the rising livestock share in agricultural output, favorable rules, and regulatory scenario, increasing disposable income, and growing demand for animal byproducts. However, the unavailability of sufficient raw material and volatility in the price of the plant extracts are restraining the market growth at the global level. The various benefits provided by plant extracts and essential oils in animal nutrition are likely to create beneficial growth opportunities for key players in the essential oils and plant extracts for the livestock market.
Poultry feed segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the poultry feed segment has dominated the Essential Oils and Plant Extracts for the livestock market and is estimated to grow at a CAGR of XX% during the forecast period. Poultry feed is food for farm poultry, containing chickens, geese, ducks, and other domestic birds. The rising number of scandals associated with poultry production is primary to increased anxiety for food safety and clean labels are directly impacting the sales of poultry feed across the world. The global poultry meat creation is foreseen to increment at a fast rate, which is likely to fuel the demand for essential oils and plant extracts in this segment.
The Asia Pacific dominated the Essential Oils and Plant Extracts for Livestock market in 2019
In 2019, Asia Pacific held the XX% share of the essential oils and plant extracts for livestock market and is expected to maintain its dominance during the forecast period. The growing awareness about the health benefits of utilizing plant extracts in animal feed is propelling the demand for essential oils & plant extracts for livestock in the region. In terms of revenue, North America held the 27% market share in 2019 and is expected to grow at the CAGR of XX% during the forecast period. The rising population, along with the high disposable income of customers, has created a strong demand for meat products, which is projected to boost the regional market growth in the near future.
Key players operating the global Essential Oils and Plant Extracts for Livestock market are Manghebati, INDIAN HERBS SPECIALITIES PVT LTD, Orffa, Herbavita, Herbarom, Olmix Group, Phytosynthese, DSM, Kemin Industries, Inc., DuPont de Nemours, Inc., Biolandes, Joh. Vögele KG, DELACON Biotechnik GmbH, BENEO GmbH, Plant Extracts International Inc., Eden Botanicals, Trouw Nutrition B.V., CCPA GROUP, Foreverest Resources Ltd., Martin Bauer Group, Provimi North America, Inc., Destilaciones Bordas Chinchurreta SA, and BIOMIN Holding GmbH.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Essential Oils and Plant Extracts for Livestock Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Essential Oils and Plant Extracts for Livestock Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Essential Oils and Plant Extracts for Livestock Market positioning of competitors.
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