Ruminant Methane Reduction Market – By Product Type (Feed Additives/Supplements {Chemical, Plant, Microbial}, Dietary Supplements, Methane Inhibitors), Animal Type (Cattle, Sheep, Goats), Distribution Channel, End-use - Global Forecast 2024 – 2032
Report ID: GMI10442
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Published Date: July 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 14
Tables & Figures: 227
Countries covered: 23
Pages: 178
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Ruminant Methane Reduction Market Size
Ruminant methane reduction market size was valued at around USD 2.6 billion in 2023 and is estimated to grow at 7.3% CAGR from 2024 to 2032. Ruminant methane reduction focuses on techniques and technologies aimed at curbing methane emissions from livestock such as cattle, sheep, and goats.
Methane, a potent greenhouse gas, is predominantly produced during the digestive processes of these animals. Given its global warming potential (GWP) is approximately 28 times greater than that of carbon dioxide, methane stands out as a significant contributor to climate change on a global scale.
Increased research and development (R&D) activities are driving the growth of this market. The agricultural sector is working with research projects to reduce methane emissions from cattle feedlots. Companies are investing in research to create eco-friendly solutions that also improve productivity. For example, in May 2023, Nissui Corporation invested in Immersion Group, an Australian startup that grows Asparagopsis, a type of red seaweed known for reducing methane emissions from ruminants.
Furthermore, presence of stringent environmental regulations and policies, rising awareness and demand for sustainable livestock farming, and advancements in ruminant methane reduction technologies, are the promoting factors advancing the growth of the market.
Ruminant Methane Reduction Market Trends
Technological advancements in the market are revolutionizing the agricultural industry, providing effective solutions to significantly decrease methane emissions from livestock. This progress is driven by a combination of innovative feed additives, precision farming technologies, genetic improvements, microbial interventions, and advanced data analytics.
Ruminant Methane Reduction Market Analysis
Based on product type, the market is segmented into feed additives/supplements, dietary supplements, methane inhibitors, and other product types. Further, feed additives/supplements segment is divided into chemical-based, plant-based, and microbial-based. The feed additives/supplements segment of the market is forecasted to reach USD 2.2 billion by 2032.
Based on animal type, the ruminant methane reduction market is bifurcated into cattle, sheep, and goats. The cattle segment accounted for USD 1.3 billion in 2023.
Based on distribution channel, the ruminant methane reduction market is divided into direct sales, veterinary clinics, agricultural cooperatives, online retailers, and specialty stores. The direct sales segment is forecasted to reach USD 1.4 billion by 2032.
The growth of the ruminant methane reduction market in the U.S., projected to reach USD 1.7 billion by 2032.
The ruminant methane reduction market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan ruminant methane reduction market is anticipated to witness lucrative growth between 2024 – 2032.
The ruminant methane reduction market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
Ruminant Methane Reduction Market Share
The ruminant methane reduction sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, leading industry players exert significant influence in this dynamic landscape, often propelling advancements through substantial investments in research and development. Stringencies in regulatory requirements for approval of ruminant methane reduction and requirement for high initial capital investments creates hurdles for the newer players to enter into the market. Smaller players focus on specific product types to gain expertise and compete with established players.
Ruminant Methane Reduction Market Companies
Some of the eminent market participants operating in the ruminant methane reduction industry include:
Ruminant Methane Reduction Industry News:
The ruminant methane reduction market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product Type
Market, By Animal Type
Market, By Distribution Channel
The above information is provided for the following regions and countries: