Global Feed Essential Oils Market

Global Feed Essential Oils Market Size, Share, Growth Analysis, By Type(Lemon, Orange), By Application(Poultry, Ruminant) - Industry Forecast 2024-2031

Report ID: SQSG30C2034 | Region: Global | Published Date: February, 2024
Pages: 278 | Tables: 67 | Figures: 75

Global Feed Essential Oils Market Regional Insights

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 size was valued at USD 20.2 billion in 2019 and is poised to grow from USD 21.79 billion in 2023 to USD 39.43 billion by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).

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. 'Cargill Inc. (US)', 'ADM (US)', 'Dupont (US)', 'Evonik (Germany)', 'BASF SE (Germany)', 'DSM (Netherlands)', 'Ajinomoto Co., Inc. (Japan)', 'Novozymes (Denmark)', 'Chr. Hansen Holding A/S (Denmark)', 'TEGASA (Spain)', 'Nutreco (Netherlands)', 'Kemin Industries Inc. (US)', 'Adisseo (France)', 'Alltech (US)', 'Palital Feed Additives B.V. (Netherlands)', 'Global Nutrition International (France)', 'Centafarm SRL (Italy)', 'Bentoli (US)', 'NUQO Feed Additives (France)', 'Novus International (US)'

EO's antibacterial, antiviral, and anti-oxidant activities reduce pathogenic microorganisms and improve intestinal microbiota and feed efficiency in animals. EO in animal feed should promote industry expansion. Demand for chicken products and attention to improving animal health will boost the essential oil feed additives industry. Increasing EO fortification in ruminant feed to increase flavor and boost feed intake for growth and reproduction will boost the industry.

The expansion of the essential oils in the animal nutrition market is primarily driven by a rise in advantageous rules and regulations, as well as a rise in population, disposable income, and demand for animal byproducts. In addition, an increase in market research and development activities, as well as technological advances and modernization in production techniques, will generate new opportunities for essential oils in animal nutrition market manufacturers over the projection period.

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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Global Feed Essential Oils Market

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