Market Research Report
Global Essential oils in animal nutrition market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||708524|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Global Essential oils in animal nutrition market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: September 18, 2018||Content info: 110 Pages||
The global essential oils in animal nutrition market was valued at USD 312.71 million in 2017, and is expected to reach USD 472.35 million by 2023, registering a CAGR of 7.3%, during the forecast period, 2018-2023.
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 animal nutrition market.
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 essential oils in animal nutrition market.
Aromatic herbs and essential oils are often claimed to improve the flavor and palatability of feed, thus, increasing voluntary feed intake, resulting in improved weight gain
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. Hence, aromatic plants and their respective essential oils are being generally used in pig, poultry, rabbit, and ruminant nutrition.
Essential Oils in Animal Nutrition Market Segmentation
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 animals digestive system, which is responsible for improving the animals productivity.
Thyme and cinnamaldehyde hold the largest shares in the essential oils for animal nutrition market, they hold around 16% and 20%, respectively.
Essential oils are gaining significant importance, as a performance and palatability enhancer for poultry, making it one of the largest livestock segments.
Feed palatability enhancers are gaining a significant position, as they are highly influential in enhancing the feed intake in animals. The palatability enhancers are supplementary to the animal feed that nullify the bitter taste of vitamins, minerals, and other feed.
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.
July 2017 - 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.
Major Players - E Bordas Chinchurreta Distillations, Cargill Incorporated, Delacon Biotechnik GmbH, Devenish Nutrition Limited, E.I. DuPont De Nemours and Company, Food Base KFT, Ropapharm International BV, Vinayak Ingredients (India) Pvt Ltd and Zhejiang Yaofi Bio-tech Co. Ltd, among others.
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