Market Trends of Essential Oils In Animal Nutrition Industry
Increasing Usage of Phytogenic Feed Additives
Phytogenic feed additives (PFA) have antimicrobial, anti-viral, and anti-oxidant properties resulting in reduced pathogenic bacteria and a well-balanced gut microflora as well as improving feed efficiency, which is a perennial concern in the livestock industry. Phytogenic feed additive (PFA) inclusion in livestock feed is expected to help the market grow considerably. The rise in demand for poultry products among consumers and the increasing emphasis on improving poultry health are expected to catapult the market for phytogenic feed additives.
Additionally, the rising fortification of photogenic in bovine feed, on account of adding flavor and inducing high feed intake for growth and reproductive performance, is expected to have a positive impact on the market. As per the USDA Foreign Agricultural Service, about 72 thousand metric tons of broiler meat were imported into the United States in 2021, and by the end of 2022, the number rose to 83 thousand metric tons. The expansion of the poultry market has been fuelling the demand for Phytogenic feed additives across the globe.
Essential oil is a major component of feed Phytogenic additives. Hence, an increase in the use of these products is likely to drive market growth for essential oils as well. The growth of essential oils is attributed to the broad health benefits provided by them to animals.
Europe Dominates the Global Essential Oils In Animal Nutrition Market
Europe dominates the global essential oils in animal nutrition market in terms of revenue share, which is followed by Asia-Pacific and North America. Spain is one of the most prominent animal feed manufacturers across the European region, and it is expected to be a major factor driving the use of essential oils in the feed. Spain has been completely dominant in terms of the largest quantity of animal food production. For instance, according to the Spanish Federation of Food and Beverage Industries, the sales value of the Spanish animal food industry rose from EUR 12,698 million in 2017 to EUR 14,889 million in 2021. The European demand for essential oils is ever-increasing. Furthermore, the competition from the natural ingredients manufactured majorly by developing countries is getting intensified.
The manufacturers of animal feed in the rest of the European region are constantly looking for continuity of supply, stability in the prices and quality, and detailed product documentation. Additionally, Germany has been witnessing an increase in the human population, which has surged the demand for chicken, beef, and other meat products. This has alarmed the need for a healthy growth process of livestock, along with an increase in the usage of essential oil in the country.
