USD 20.2 billion
Report ID: SQSG30C2034 | Region: Global | Published Date: September, 2022 | Pages: 278 | Tables: 67 | Figures: 75
Feed Essential Oils Market size was valued at USD 20.2 billion in 2021 and is poised to grow from USD 21.79 billion in 2022 to USD 39.43 billion by 2030, growing at a CAGR of 7.9% in the forecast period (2023-2030).
To satisfy people’s demand and increase the demand for feed, it is important to always offer high-quality animal products. When bioactive chemicals, like essential oils, are added to animal feed, it seems to improve the quality of the animal feed that is made and protect the consumer from oxidants and bacteria that can make animal byproducts go bad. Essential oil is a concentrated liquid that doesn't mix with water and has volatile fragrance components from plants. Plant oils are used to add flavor to food and animal feed. These oils are sometimes called essential oils or volatile oils. Lemon and peppermint are two common plants that can be used to make essential oils. They have been used as medicine for hundreds of years because they can help with problems like insomnia, stress, irritable bowel syndrome (IBS), and even constipation which are caused by anxiety. These are the major factors driving the demand for the feed essential oils market during the analysis period.
US Feed Essential Oils Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 20.2 billion
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The Global Feed Essential Oils Market is segmented based on type, application, and region. Based on type, the market is segmented into lemon, orange, eucalyptus, peppermint, and others. Based on application, the market is segmented into poultry, ruminant, aquaculture, swine, and other animals. Based on region, the global Feed Essential Oils market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Essential Oils Market Analysis by Type
In 2021, the orange feed essential oil accounted for more than 25% of the revenue share for the global feed essential oils market and is expected to dominate the market throughout the analysis period. Increasing demand for PFA feed for better animal byproducts in the market is the major factor driving the demand for the use of feed essential oils in recent years. The growing trend of organic and antibiotic-free meat and milk are also some of the major reasons for this demand as farmers are tempted to use the antibiotic-free feed for their animals to sell its product at a premium for being antibiotic free this will drive the demand for feed essential oil additive market during the forecast period.
Feed Essential Oils Market Analysis by Application
Improving feed efficiency is a constant focus in the livestock business, and essential oil in feed has antibacterial, anti-viral, and anti-oxidant effects, leading to decreased pathogenic microorganisms and more stable gut microbiota these are the major factor for the dominance of the poultry sector for global feed essential oil market during the year 2021. The addition of essential oil feed additives into animal feed is anticipated to significantly contribute to market growth. The market for essential oil feed additives is predicted to grow rapidly due to rising consumer demand for antibiotic-free poultry products and a subsequent focus on enhancing poultry health. As photogenic is increasingly added to bovine feed to improve flavor and stimulate high feed intake for growth and reproductive performance, this trend is also anticipated to boost the market.
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In terms of revenue, Europe accounted for the largest consumer of feed essential oils used in animal nutrition globally, followed by the Asia-Pacific region and North America. Markets in South America and the Middle East & Africa are yet to be explored. As one of Europe's leading producers of animal feed, Spain is likely to play a significant role in propelling the usage of essential oils in the animal feed sector. When it comes to producing the most animal feed in the world, Spain has long been in the lead. There is a constant rise in demand for essential oils across the European region. Animal feed manufacturers are driving the demand for feed essential oil throughout the forecast period by looking for opportunities for raw material availability and other need for producing feed.
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Feed Essential Oils Market Driver
Improved gut health, higher immunity, and increased yield are projected to propel the feed essential oil industry.
Feed Essential Oils Market Restraint
The lack of readily available raw materials and the high price fluctuations of plant extracts are major restraints for the market.
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The feed essential oils market is relatively fragmented, with a high level of competition. Few large players, like Cargill Inc, ADM, and Evonik, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Feed Essential Oils Market Top Player’s Company Profiles
Feed Essential Oils 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.
According to our analysis, when bioactive chemicals, like essential oils, are added to animal feed, it seems to improve the quality of the animal feed that is made and protect the consumer from oxidants and bacteria that can make animal byproducts go bad. North America, Europe, Asia-Pacific, South America, and MEA are the major factors driving the demand for the feed essential oils market during the analysis period. Growing demand for organic and antibiotic-free meat and milk is also some of the major reasons for this demand. Animal feed manufacturers are driving the demand for feed essential oil throughout the forecast period. Europe accounted for the largest consumer of feed essential oils used in animal nutrition, followed by the Asia-Pacific region and North America.
|Market size value in 2021||USD 20.2 billion|
|Market size value in 2030||USD 21.79 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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For the Global Feed Essential Oils 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 Global Feed Essential Oils 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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Product ID: SQSG30C2034