The global essential oils in animal nutrition market is forecasted to reach USD 507 billion by 2024 growing at a CAGR of 7.3%during the forecast period (2019 - 2024).
- Consistent high-quality animal products are required to maintain consumer confidence and increased feed consumption. Enrichment of animal feed with bioactive compounds, such as essential oils, appears to improve the quality characteristics of the derived products and protects consumers against oxidation and bacterial spoilage effects.
- This factor is fueling the growth of essential oils in the animal nutrition market. Additionally, the restriction and the ban (for example, the European Union) on the use of antibiotics in several countries have prompted scientists and the feed industry to search for alternative products, like essential oils.
Scope of the Report
Essential oils (EO) are volatile, aromatic mixtures, consisting principally of terpenes and phenylpropane derivatives.Introduction of essential oils into animal production has promising potentials as growth and health promoter without adverse effects.Essential oils have received attention in the recent years as potential ‘natural’ alternatives, in order to replace antibiotic growth promoters (AGPs) in animal diets, due to their positive impact on growth performance, gut microbiota, and welfare; this has been the most significant driver for the market.
Essential Oils in animal nutrition market is segmented on the basis of type, livestock, functionality and geographical distribution. Thyme essential oil is the most effective in animal feeding, since it has a stimulating effect on an animal’s digestive system, which is responsible for improving the animal’s productivity.
Key Market Trends
Increasing Usage of Phytogenic Feed Additives
PFA has antimicrobial, antiviral and anti - oxidant properties resulting in reduced pathogenic bacteria and a well - balanced gut micro flora as well as improving feed efficiency is a perennial concern in the livestock industry. Phytogenic feed additive (PFA) inclusion in livestock feed is expected to help the market grow considerably. The rise in demand for poultry products among the consumers and the increasing emphasis on improving poultry health are expected to catapult the market of phytogenic feed additives. Additionally, the rising fortification of phytogenic in bovine feed, on account of adding flavor and inducing high feed intake for growth and reproductive performance, is expected to have a positive impact on the market.
Europe Dominates the Global Essential Oils In Animal Nutrition Market
Europe dominates the global essential oils in animal nutrition market, in terms of revenue share which is followed by Asia-Pacific and North America. Middle East & Africa and South America market are still untapped. Spain is one of the most prominent animal feed manufacturers across the European region, it is expected to be a major factor driving the use of essential oils in feed. Spain has been completely dominant in terms of largest quantity of animal food production. The European demand for essential oils is ever increasing. Further, the competition from the natural ingredients manufactured majorly by developing countries is getting intensified. The manufacturers of animal feed in the rest of European region are constantly looking for a continuity of supply, stability in the prices and quality, and detailed product documentation.
E.I. DuPont De Nemours and Company, Cargill Incorporated, Delacon Biotechnik GmbH, Bordas Chinchurreta Distillations, Ropapharm International BV, Food Base KFT, Vinayak Ingredients (India) Pvt Ltd ,Zhejiang Yaofi Bio-tech Co. Ltd and Devenish Nutrition Limited are the major players operating in the Global Essential oils for animal nutrition . Most suppliers of essential oils are rooted in countries like Brazil, China, the United States, Egypt, India, Mexico, Guatemala, Morocco, and Indonesia, since they are developing, and have peasant type economies, except the United States.
The Key Developments in Essential Oils in Animal Nutrition Market : Delacon entered into a strategic equity investment agreement with Cargill to advance the market existence of natural, plant-based feed additives in the global market.
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