USD 31.06 billion
Report ID:
SQMIG30A2007 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
93
|Figures:
79
Essential Oils & Plant Extract For Livestock Market size was valued at USD 33.24 Billion in 2023 and is poised to grow from USD 35.57 Billion in 2024 to USD 61.16 Billion by 2032, growing at a CAGR of 7.01% during the forecast period (2025-2032).
Essential Oils & Plant Extract For Livestock are popular since It Is used in the livestock industry for many years to improve animal health, growth, and performance. The various advantages provided by essential oils and plant extracts Include natural alternatives to antibiotics, improved growth, and performance, reduced stress, improved immune function, and improved meat quality.
Essential oils and plant extracts offer a promising alternative to antibiotics in the livestock industry. The overuse of antibiotics in animal production is a significant concern as it can lead to antibiotic resistance, which can have severe consequences for both human and animal health. By using natural products like essential oils and plant extracts, farmers can potentially reduce their reliance on antibiotics and help mitigate the risk of resistance. By incorporating these natural products into livestock diets, farmers can promote animal health and reduce the use of antibiotics, ultimately leading to healthier animals and safer food products. Furthermore, the use of essential oils and plant extracts in the livestock industry is a sustainable and environmentally friendly approach that aligns with modern demands for more responsible agriculture.
It can play a vital role in mitigating stress levels in livestock, which can have significant impacts on animal health and performance. When animals are exposed to stressful situations, their immune systems can weaken, leading to a host of health problems. Additionally, stress can reduce an animal's appetite, leading to weight loss, reduced growth, and lower productivity. By incorporating essential oils and plant extracts into their diets, farmers can potentially reduce stress levels in their animals and improve their overall well-being. Some specific essential oils, like lavender and chamomile, have been shown to have calming effects on animals, helping to reduce stress levels and promote relaxation. By minimizing stress, farmers can enhance the health and productivity of their livestock, leading to healthier animals and a more profitable operation. Furthermore, the use of natural products like essential oils and plant extracts is an environmentally-friendly and sustainable approach that can appeal to consumers who prioritize ethical and responsible agricultural practices. These natural products contain specific plant compounds that have been shown to positively influence meat quality, resulting in meat that is more tender, juicy, and flavorful. Numerous studies have demonstrated that animals fed with essential oils produce meat with improved sensory properties, including enhanced tenderness, flavor, and aroma. As such, the use of essential oils and plant extracts in the livestock industry represents a promising approach to producing high-quality meat products that meet the demands of modern consumers.
US Essential Oils & Plant Extract For Livestock Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 31.06 billion
Largest Segment
Plant extract.
Fastest Growth
Plant extract.
Growth Rate
7.01% CAGR
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Global Essential Oils & Plant Extract For Livestock market is segmented on the basis of Product type, Animal type, form, and region. By Product type, the market is segmented into Essential oils, oleoresins, herbs and spices, and others. By Animal type, the Essential Oils & Plant Extract For Livestock Market is segmented into Poultry, swine, ruminants, aquatic animals, and others. By Form, the market is segmented into Liquid, powder, and others. By region, the Essential Oils & Plant Extract For Livestock Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Essential Oils & Plant Extract For Livestock Market Analysis by Product type
The plant extract segment holds a significant market share of more than 79% in 2021, making it the dominant market segment. The popularity of plant extracts is due to their various properties, such as enhancing the immune system in animals, improving nutrient utilization, and aiding in the absorption of food and water. Additionally, plant extracts are known to improve the antimicrobial activities in farm animals, reduce mastitis, and strengthen gut microbiota.
Botanical herbs and extracts are becoming increasingly important as animal feed additives due to the ban on dietary antimicrobial agents and the reduction in the use of antibiotic growth promoters. Phytochemicals and plant extracts have a significant impact on the secretion of digestive fluids and enzymes, resulting in better total feed utilization.
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The essential oils & plant extracts for livestock market was dominated by the Asia Pacific region in 2021, accounting for largest of the global revenue share. The dominance is attributed to the strong economic growth prospects of emerging countries in the region, an ever-increasing population, and the rising disposable income of the average household.
In addition, the North American livestock market is expected to see growth in the coming years due to increasing meat consumption, especially in the U.S. and Canada, and the presence of strict regulations regarding safety and meat quality. Other factors that may impact the North American livestock market include increasing incidences of animal diseases, trade liberalization, and income growth in emerging economies.
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Essential Oils & Plant Extract For Livestock Market Drivers
Improving Animal Welfare to Bolster Market Growth
Essential Oils & Plant Extract For Livestock Market Restraints
Lack of Standardization to Hinder Market Growth
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The market for essential oils and plant extracts in livestock is highly competitive, with both established players and new entrants competing for a share of the market. The driving factors behind this competition include the increasing demand for natural and sustainable animal products and the need for alternatives to antibiotics in animal production.
New entrants in this market are typically smaller companies that focus on developing and selling natural products that improve animal health and well-being. These companies often target specific segments of the market, such as dairy or poultry, and may differentiate themselves by offering unique formulations or delivery methods. Established players in the animal feed and nutrition industry are also competing in this market by leveraging their existing resources and infrastructure to develop and market natural products for animal production. These companies typically have greater research and development capabilities, regulatory expertise, and established distribution networks. In addition to these players, there are numerous suppliers of essential oils and plant extracts that compete in the livestock market by offering their products as ingredients for animal feed and supplements. These suppliers may vary in their product offerings, quality, and price and often collaborate with manufacturers to develop customized formulations.
Essential Oils & Plant Extract For Livestock Market Top Player’s Company Profiles
Essential Oils & Plant Extract For Livestock Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
After analyzing the global Essential Oils & Plant Extract For Livestock market, we anticipate significant growth during the forecast period due to the numerous benefits it offers. One of the primary advantages of using essential oils and plant extracts is that they provide natural alternatives to antibiotics, promoting improved growth and performance in livestock. Additionally, these natural products can help reduce stress levels in animals, which can lead to a range of health problems and poor performance. Essential oils and plant extracts have been found to have a calming effect on animals, promoting relaxation and reducing stress. Furthermore, incorporating these natural products into animal diets can help improve immune function and enhance the overall quality of meat produced by livestock.
However, the lack of standardization and regulation is a significant challenge to the widespread adoption of essential oils and plant extracts in animal production. The variability in quality and potency of these natural products, as well as the lack of clarity around dosage and administration, can make it difficult for farmers to integrate them effectively into their livestock diets. Despite this challenge, we expect to see continued growth in the Essential Oils & Plant Extract For Livestock market as more consumers demand natural and sustainable animal products, and as companies continue to innovate and develop new and improved natural feed additives..
Report Metric | Details |
---|---|
Market size value in 2023 | USD 33.24 Billion |
Market size value in 2032 | USD 61.16 Billion |
Growth Rate | 7.01% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Essential Oils & Plant Extract For Livestock Market Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
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Market overview
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Market Size by Region
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For the Essential Oils & Plant Extract For Livestock Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Essential Oils & Plant Extract For Livestock Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Essential Oils & Plant Extract For Livestock Market:
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Report ID: SQMIG30A2007
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