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Essential Oils & Plant Extracts for Livestock Market Size Estimated to Reach $3.2 Billion by 2027

Essential Oils & Plant Extracts for Livestock Market Size Estimated to Reach $3.2 Billion by 2027

April 27
01:32 2022
Essential Oils & Plant Extracts for Livestock Market Size Estimated to Reach $3.2 Billion by 2027
Essential Oils & Plant Extracts For Livestock Market | IndustryARC
A Rise in Global Livestock Population has Readily Aided the Essential Oils & Plant Extracts for Livestock Market Growth.

Essential Oils & Plant Extracts for Livestock Market Overview

The Essential Oils & Plant Extracts for Livestock Market size is estimated to reach $3.2 billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.78% over the forecast period of 2022-2027. Essential oils are planted concentrates extracted from the tissue of plants and used majorly for applications such as additives, perfumes, processing aids and so on. However, they are also used as an animal feed ingredient to improve health of livestock animals as they aid in enhancing feed quality. Besides, the presence of phytochemicals and oligosaccharides in such products also help improve livestock productivity. Furthermore, essential oils and plant extracts are known for their immunomodulation abilities owing to their anti-inflammatory properties. Rapid rise in demand for plant extract infused cattle feed owing to the growing global dairy and meat consumption is driving the market for Essential Oils & Plant Extracts for Livestock Industry during the projected period of 2022-2027.

Essential Oils & Plant Extracts for Livestock Market Segmentation Analysis- By Product

The Essential Oils & Plant Extracts for Livestock market based on product can be further segmented into Essential oils and plant extracts. The essential oils segment accounted for the largest share of the market in 2021 and is predicted to dominate the market during the forecast period 2022-2027. This can be attributed to the fact that aromatherapy using essential oils can help eliminate stress, which helps improve overall health of the animal. Besides, essential oils are added to cattle feed as they help improve meat quality by enhancing water holding capacity, texture and lipid oxidation of the meat.

However, plant extracts segment is estimated to grow at a rapid CAGR of 7.4% over the forecast period of 2022-2027. This is attributed to the growth in the use of plant extracts as an alternative for growth promoters and antibiotics in animal feeds. Extracts of cinnamon, oregano, cumin, garlic, sumac, cloves, anise, mint, coriander and ginger are known to improve animal immunity and digestive system owing to their anti-inflammatory, antimicrobial, antiviral and antioxidant properties. As per USDA’s recent publication, the world run demand projections of beef, pork, and poultry would increase by more than 17% through 2030, thereby, supplementing the market growth.

Essential Oils & Plant Extracts for Livestock Market Segmentation Analysis- By Livestock

The Essential Oils & Plant Extracts for Livestock market based on Livestock can be further segmented into Cattle Feed, Poultry Feed, Swine Feed, Aquatic Feed and Others. The poultry feed segment held a dominant market share in the year 2021. This can be attributed to the stringent regulations regarding the use of antibiotics in poultry feed owing to the emergence of multiple avian influenza outbreaks. Furthermore, numerous countries have even banned the use of Antibiotics in poultry feed products in order to prevent the risk of creating drug resistant pathogens. Essential oils and plant extracts are an excellent alternative for antibiotics owing to their antimicrobial and antiviral properties.

However, Cattle feed is also estimated to witness lucrative growth at a CAGR of 7.7% owing to the rapid rise in demand for dairy products. For instance, according to the United Nations Food and Agricultural Organization (FAO), the global milk production reached nearly 906 million tonnes in 2020, an increase of 2% from 2019. Essential oils and plant extracts are used in cattle feed to help increase cattle health and output.

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Essential Oils & Plant Extracts for Livestock Market Segmentation Analysis- By Geography

The Essential Oils & Plant Extracts for Livestock market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia Pacific held a dominant market share of 44% in the year 2021 as compared to the other counterparts and is predicted to remain dominating the market during the forecast period 2022-2027. This can be attributed to the rapid economic development and growing disposable income in the region. Moreover, the region also has a large population of cattle and poultry livestock, which is increasing the demand for animal feed products with essential oils and plant extracts. For instance, according to the 20th national livestock census, the population of poultry and cattle livestock in India was estimated to be around 851.8 million and 192.5 million, respectively.

However, the European segment is also projected to register robust growth during the forecast period owing to the presence of key industry players such as BENCO, Delacon Biotechnik and DSM in the region.

Essential Oils & Plant Extracts for Livestock Market Drivers

A rise in global livestock population has readily aided the market growth.

Rapid rise in the global livestock population owing to increasing demand for products such as dairy, meat and leather is driving the market during the forecast period. For instance, the population of sheep in India increased by 14.13% while the population of goat increased by 10.14% between 2012 and 2019. Moreover, according to the United States Department of Agriculture (USDA), the US was home to approximately 94.4 million cattle in 2020. In addition, the population of pigs and bovine animals in the European Union was estimated to be around 143 million and 77 million, respectively. This is contributing to the rise in the use of animal feed products containing essential oils and plant extracts as they help maintain animal health and productivity.

Growing concern regarding drug resistant pathogens is projected to drive the market.

Rising global concerns regarding the use of antibiotics in animal feed products is anticipated to boost the demand for Essential Oils and Plant Extracts as they are an effective and acceptable alternative to growth promoters. For instance, countries such as India, EU, Thailand, South Korea and the US have regulations in place that ban the use of Antibiotics used as growth promoters (AGP) in poultry production. Within China 2019, around 14 antimicrobials can be added in the feed, additionally, it is estimated that AGP accounted for nearly 60-70% of the anti-microbials used in food processing animals. Moreover, in 2020, China became the latest country to implement the ban on AGP. Extracts from cloves and cinnamons have antimicrobial effect in the rumen, as well as being potent antioxidants. This makes them an ideal alternative to use of antibiotics for livestock. Besides, oregano is also known to possess antibacterial and antimicrobial properties.

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Essential Oils & Plant Extracts for Livestock Market Challenges

Side effects associated with the use of the product is a major factor impeding the market growth.

Major side effects related to the use of essential oils and plant extracts is a key factor that can hamper market growth during the forecast period. For instance, numerous essential oils used by humans such as eucalyptus oil, tea tree oil, cinnamon, citrus, peppermint, pine and wintergreen can be extremely toxic to animals. Exposure to such essential oils and plant extracts in high amounts can lead to respiratory failure, liver damage, liver failure and seizures. Furthermore, the high cost of essential oils and plant extracts can also act as a significant challenge as the non-natural alternatives such as antibiotics are available for significantly lower prices to the end user.

Essential Oils & Plant Extracts for Livestock Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Essential Oils & Plant Extracts for Livestock top 10 companies include:

1. Amorvet Animal Health Pvt Ltd

2. Beneo GmBH

3. DANISCO

4. Delacon Biotechnik Gmbh

5. DSM NV

6. Herb Specialty Pvt Ltd

7. Herbarom Labortorie

8. Herbavita

9. Idena SA

10. Joh. Vgele Kg

Recent Developments

In October 2021, Cargill announced the launch of poultry feed with essential oils for healthy flocks and maximized egg production. The company’s Nutrena and Naturewise poultry feeds are added with essential oils in order to help increase egg weight, egg size, improve digestion and enhance immunity. Additionally, the FlockShield proprietary ingredient allows to maintain a proper-healthy gut, which strengthens the immune system. Prebiotics, probiotics, and yeast culture are added to support digestion and nutrient absorption.

In August 2021, Feedworks USA announced the launch of its Agolin Ruminant for reduced enteric methane, improved production and feed efficiency. Agolin is a plant-based feed additive that is a mixture of numerous essential oils. The product has been certified by the UK’s Carbon Trust to improve the feed efficiency and reduced enteric methane. The active compounds are coriander-seed oil-eugenol-geranyl acetate-and geraniol. The cost of the product is between $0.04 to $0.06 per cow per day with a return of $0.50-$0.70.

In February 2020, Veritas Farms announced the launch of a line of full-spectrum hemp oil pet chews under its newly created Veritas Pets brand. Each of the chews contains around 10 milligrams of hemp oil. The CBD in hemp oil pet chews help with pain management and controlling seizures of sick pets. Additionally, the company announced that it is expanding its product portfolio and distribution partnership with Kroger Family of Stores. Under this new agreement, Kroger will be introducing a variety of new hemp oil (CBD+) cosmetic products into its existing product offering and expanding its geographic presence throughout the United States.

Key Takeaways

Geographically, Asia Pacific region accounted for the largest the Essential Oils & Plant Extracts for Livestock market share in the year 2021 owing to the rapid rise in demand for livestock products in major emerging economies such as China, Vietnam and India. Besides, the region is also witnessing an increase in the consumption of poultry products such as eggs and meat. Numerous poultry farms in the region use essential oils and plant extracts as an alternative for antibiotic growth promoters in poultry feed. The European market is also projected to witness lucrative growth during the forecast period owing to the presence of several major market players in the region.

The rapid growth in concern towards animal health and well being in developed regions is anticipated to drive the market during the forecast period. However, major side effects associated with the use of essential oils on animals is projected to act as a major challenge for the market during the forecast period.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Essential Oils & Plant Extracts for Livestock Market Report.

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