Essential Oils & Plant Extract For Livestock Global Market Report 2023
Major players in the essential oils & plant extract for livestock market are Kemin Industries, Inc., Phytosynthese, Provitim, Olmix S.A., Herbarom Laboratoire, Herbavita, Danisco, Manghebati, Laboratoires Phode, Delacon Biotechnik GmbH, Joh.
New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Essential Oils & Plant Extract For Livestock Global Market Report 2023" - https://www.reportlinker.com/p06325420/?utm_source=GNW
Vogele KG, IDENA SAS, CCPA GROUP, Foreverest Resources Ltd., and Destilaciones Bordas Chinchurreta SA.
The global essential oils & plant extract for livestock market grew from $3.07 billion in 2022 to $3.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The essential oils & plant extract for livestock market is expected to grow to $4.33 billion in 2027 at a CAGR of 6.9%.
The essential oils and plant extract for livestock market consists of sales of leaves, stems, seeds, lavender, peppermint, hemp extract.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The essential oils and plant extract for livestock refer to plant extracts are regarded as natural substances that can take the place of antibiotics as secure and enduring substitutes. The essential oils & plant extract for livestock include cloves and cinnamon have antibacterial properties in the rumen and are also powerful antioxidants, thyme stimulates the digestive system, which may help animals develop and be more productive, vanilla oregano has antibacterial and antimicrobial qualities, which may help with feed intake and efficiency.
Asia-Pacific was the largest region in the essential oils & plant extract for livestock market in 2022. The regions covered in the essential oils & plant extract for livestock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of essential oils & plant extracts for livestock are essential oils and plant extracts.The essential oils refer to the application of essential oils in livestock for animal growth, improving feed intake, and efficiency.
Essential oil is a natural oil typically obtained by distillation and having the characteristic odor of the plant or other source from which it is extracted.Both solid/power and liquid form essential oils & plant extract are helpful to address gut health, immunity, and yield of livestock.
The essential oils & plant extract products are suitable for cattle feed, poultry feed, swine feed, aquatic feed, and other livestock.
The surging demand for livestock products is driving the growth of the essential oils & plant extract for the livestock market.Increasing shift in consumption patterns among individuals across the globe, rapid growth in disposable income among individuals in both developed and developing countries and increasing adoption of livestock products due to their health-related benefits are mutually contributing to increased demand for livestock products across the globe.
The rapid growth in demand for livestock products is expected to boost the consumption of essential oil & plant extracts, as the livestock producers are increasingly inclining towards organic sources to maintain their herd.For instance, in 2020, according to the Food and Agriculture Organization (FAO), livestock production accounts for 20-24% of agricultural gross domestic product (AGDP) in both developed and developing countries.
Over 600 million households worldwide rely on the livestock sector as a primary source of income.Livestock accounts for 34% of protein intake and 18% of dietary energy supplies globally.
Therefore, surging demand for livestock products is expected to propel the growth of the essential oils & plant extract for the livestock market over the coming years.
Technological advancements are a key trend gaining popularity in essential oils & plant extract for the livestock market.Many companies operating in essential oils & plant extract for livestock are developing new products or new technologies to strengthen their position in their market.
For instance, in October 2021, Cargill launched poultry feed with essential oils for healthy flocks and maximized egg production.Essential oils are added to the company’s Nutrena and Naturewise poultry diets to assist raise egg weight and size, improving digestion, and boosting immunity.
The FlockShield exclusive ingredient also enables the maintenance of a good, healthy stomach, which boosts the immune system. Yeast culture, prebiotics, and probiotics are included to aid with digestion and nutritional absorption.
In October 2021, Royal DSM, Netherlands-based a global purpose-led science company acquired First Choice Ingredients for an enterprise value of USD453 million.With this acquisition, DSM can help First Choice Ingredients grow even faster by selling their products outside the US to DSM’s large global customer base and incorporating their solutions into DSM’s full offering on taste, texture, and health in sustainable solutions for Food & Beverage customers.
As a result of the acquisition, First Choice Ingredients gains access to DSM’s world-class biotechnology toolbox, fermentation, and global customer relationships. First Choice Ingredients, a US-based company is a leading manufacturer of concentrated dairy flavors created by natural fermentation and reaction technologies.
The countries covered in the essential oils & plant extract for livestock market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The essential oils & plant extract for livestock market research report is one of a series of new reports that provides Essential oils & plant extract for livestock market statistics, including essential oils & plant extract for livestock industry global market size, regional shares, competitors with an essential oils & plant extract for livestock market share, detailed essential oils & plant extract for livestock market segments, market trends and opportunities, and any further data you may need to thrive in the essential oils & plant extract for livestock industry. This essential oils & plant extract for livestock market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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