Feed Essential Oils Market is Estimated to Surpass USD 929.93 Million by 2028 at a CAGR of 7.07% from 2022–2028, Increasing Emphasis on Essential Oils as a Natural Alternative for Improving Animal Health
SkyQuest has recently published an in-depth report on the feed essential oils market, offering a comprehensive industry landscape analysis. The report also covers investment strategies for companies operating in the market, including opportunities for growth and expansion, risk mitigation, and market positioning.
Westford, USA, Feb. 17, 2023 (GLOBE NEWSWIRE) — In recent years, Europe’s feed essential oils market has been witnessing higher growth due to the increasing demand for natural feed additives. The use of essential oils in animal feed has gained popularity because of the rising awareness about the health benefits associated with their use. In addition, consumers are increasingly seeking natural and organic products, which is reflected in their choice of animal products, such as meat, milk, and eggs. As a result, there is a surge in demand for natural feed additives, including essential oils that can enhance the nutritional value of animal feed and contribute to the production of healthier animal products.
According to SkyQuest, the animal protein ingredients industry is estimated for tremendous growth in the coming years, with a projected market value of USD 61.35 billion by 2028. As more consumers worldwide seek high-quality animal protein products, the demand for animal protein ingredients continues to rise. This growth in demand is expected to boost the feed essential oils market as livestock producers increasingly look to improve the health and productivity of their animals.
Browse in-depth TOC on “Feed Essential Oils Market”
- Pages – 278
- Tables – 67
- Figures – 75
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Essential oils are basically concentrated liquids derived from plants and contain volatile fragrance components. These oils are often used in aromatherapy and have gained popularity recently for their potential health benefits. One of the unique properties of essential oils is that they do not get mixed with water, making them highly concentrated and potent.
Prominent Players in Feed Essential Oils Market
- Cargill Inc. (US)
- Dupont (US)
- ADM (US)
- BASF SE (Germany)
- Evonik (Germany)
- Ajinomoto Co., Inc. (Japan)
- DSM (Netherlands)
- Chr. Hansen Holding A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- NUQO Feed Additives (France)
- Kemin Industries Inc. (US)
- Novozymes (Denmark)
- Alltech (US)
- Adisseo (France)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Palital Feed Additives B.V. (Netherlands)
- Bentoli (US)
- Novus International (US)
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Orange Feed Essential Oil Segment to Garner High Growth owing to Its Increased Global Sales
In 2021, the feed essential oils market saw a significant revenue share coming from using orange feed essential oil, with a dominance expected from 2022 to 2028. This demand for feed essential oils is largely driven by the increasing demand for PFA (protein, fat, and amino acids) feed, which is known to improve the quality of animal byproducts in the market. In addition, one of the key factors driving the demand for feed essential oils is the growing trend of organic and antibiotic-free meat and milk.
According to recent data, Europe is the largest consumer of feed essential oils used in animal nutrition globally, with the Asia-Pacific region and North America following closely behind. It indicates a growing trend of using essential oils in animal feed for their numerous benefits. Spain, being one of the leading producers of animal feed in Europe, is expected to significantly impact the usage of essential oils in the animal feed sector. Essential oils, derived from natural plant sources, have been shown to have several beneficial properties that improve animal health and productivity.
Poultry Sector Remains the Dominant Segment Thanks to the High Usage of Essential Oils in Various Products
The poultry sector is leading the charge in adopting this innovative strategy, making it a dominant factor in the global feed essential oils market in 2021. The benefits of essential oils in poultry feed have not gone unnoticed, with the global poultry nutrition market expected to reach USD 21.15 billion by 2028, according to SkyQuest. This growth is a testament to the increasing recognition of feed’s important role in the health and well-being of livestock and the potential of essential oils to enhance this aspect of production.
The Asia Pacific region is poised to witness significant growth in the market from 2022 to 2028, driven by several factors that make it a highly attractive area for many businesses looking to expand their production operations. First, with rich natural resources and abundant reserves of minerals, metals, and other materials, the region has become a key source of raw materials for many industries. This has helped to support the growth of manufacturing and production in the region.
SkyQuest’s latest research report on the global feed essential oils market is an exceptional resource that provides valuable insights and comprehensive industry coverage. The report is a great resource for industry professionals, investors, and anyone interested in staying abreast of the latest trends, key players, product innovations, and investment strategies in this fast-paced and ever-changing sector.
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Key Developments in Feed Essential Oils Market
- Cargill has announced that it has entered into a binding agreement to acquire Delacon, an Austrian-based global leader in plant-based phytogenic additives. This acquisition marks a significant step for Cargill as it expands its animal nutrition business and responds to the increasing demand for plant-based feed additives. Delacon has extensive experience and expertise in developing phytogenic feed additives based on essential oils and natural plant extracts.
- Adisseo, a leader in animal nutrition solutions, has announced its plans to acquire Nor-Feed, a French manufacturer of animal nutrition additives specializing in plant-based ingredients. The acquisition is a strategic move that aligns with Adisseo’s expansion strategy and will enable the company to develop its specialty animal nutrition ingredients portfolio further. In addition, the acquisition of Nor-Feed will bring additional expertise and resources to Adisseo’s efforts to develop innovative, plant-based solutions for animal nutrition.
- Cargill, a leading provider of animal nutrition solutions, has launched a new line of poultry feed that incorporates essential oils to promote healthy flocks and maximize egg production. This innovative approach to poultry nutrition responds to the growing demand for natural and sustainable animal feed options. The Nutrena® Naturewise® poultry feeds now contain a blend of natural essential oils that promote egg weight, size, and production.
- LorAnn, a leading supplier of flavors and essential oils, has responded to the growing demand for sustainable and plant-based options by releasing a range of certified organic products. In particular, they have focused on their finest vanillas, essential oils, and, recently, their premium bakery emulsions. As more consumers prioritize environmentally friendly and ethical products, LorAnn has recognized the need to offer organic options.
Key Questions Answered in Feed Essential Oils Market Report
- Which specific regions are predicted to drive the highest growth, and what trends and patterns contribute to this growth?
- Can you provide examples of major economic events that have historically affected the market, and how do market players prepare for these events?
- What role does consumer behavior play in the market’s growth, and how do companies analyze and adapt to changing consumer trends?
- How do partnerships and collaborations between market players impact the market’s growth, and what are some notable examples of successful partnerships?
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