Press release
Essential Oils & Plant Extract For Livestock Market Growth Accelerates: Strategic Forecast Predicts $5.04 Billion by 2029
Essential Oils & Plant Extract For Livestock
What Will the Essential Oils & Plant Extract For Livestock Industry Market Size Be by 2025?
The market size of essential oils and plant extracts for livestock has seen significant growth over the recent years. It is predicted to rise from $3.51 billion in 2024 to $3.73 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.3%. Factors leading to this growth in the historic phase include traditional and cultural consumption, increased demand for plant-based proteins, crop rotation methods, the animal feed industry, as well as worldwide trade and exports.
What's the Long-Term Growth Forecast for the Essential Oils & Plant Extract For Livestock Market Size Through 2029?
The market size of essential oils and plant extracts for livestock is anticipated to witness robust growth in the upcoming years, expanding to a size of $5.04 billion in 2029 with a compound annual growth rate (CAGR) of 7.8%. Factors such as sustainable farming, the usage in functional foods, worldwide food security, alternative protein resources, and resilience towards climate change fuel this projected growth. The future trend forecasts include a shift towards meat substitutes, avoidance of allergen and gluten-based foods, innovative food processing techniques, transparent labeling, and technological advancements.
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What Are the Key Growth Drivers Fueling the Essential Oils & Plant Extract For Livestock Market Expansion?
The escalating need for livestock products is propelling the growth of the essential oils & plant extract market in the livestock sector. There is a growing shift in consumption habits globally, and with greater disposable income available to people in developed and developing nations, more individuals are being drawn to livestock products due to their health benefits. All these factors result in a heightened demand for such products worldwide. As demand for livestock products skyrockets, so does the consumption of essential oils & plant extracts, since producers are increasingly looking to organic sources to maintain their livestock. For example, in September 2024, information from the Department of Agriculture, a US Federal agency, showed that the total cash earnings from animals and animal products reached $249.6 billion in 2023. Out of this, cattle and calf receipts constituted $101.1 billion, accounting for 40.5% of the total. Poultry and egg brought in $67.1 billion, comprising 26.9%, and dairy produced a total of $45.9 billion, making up 18.4%. Consequently, the booming demand for livestock products is fueling the expansion of the essential oils & plant extract for livestock market.
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What Are the Key Trends Driving Essential Oils & Plant Extract For Livestock Market Growth?
Technological progression is a key emerging trend in the essential oils & plant extract market for livestock. Many organizations active in this sector are innovating new products or advanced technologies to fortify their market standing. For instance, Cargill in October 2021, introduced poultry feed enriched with essential oils to promote healthy flocks and optimize egg production. Nutrena and Naturewise, the company's poultry diets, are enhanced with essential oils to aid in increasing the egg weight and size, enhancing digestion, and strengthening immunity. The FlockShield exclusive ingredient is included to support the maintenance of a healthy stomach and boost the immune system. Ingredients like yeast culture, prebiotics, and probiotics are also incorporated to help with digestion and nutritional uptake.
How Is the Essential Oils & Plant Extract For Livestock Market Segmented?
The essential oils & plant extract for livestockmarket covered in this report is segmented -
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 Livestocks
Subsegments:
1) By Essential Oils: Citrus Oils, Herbal Oils, Spice Oils, Floral Oils
2) By Plant Extracts: Herbal Extracts, Fruit Extracts, Vegetable Extracts, Other Plant Extract
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Which Companies Are Leading the Charge in Essential Oils & Plant Extract For Livestock Market Innovation?
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, BENEO GmbH, Amorvet Animal Health Pvt. Ltd., Laboratoires Phode
Which Regions Are Leading the Global Essential Oils & Plant Extract For Livestock Market in Revenue?
Asia-Pacific was the largest region in the essential oils & plant extract for livestock market in 2024. The regions covered in the essential oils & plant extract for livestock market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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