Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Ruminant Methane Reduction Market Size, Share & Trends Analysis Report By Product (Feed Additives/ Supplements (Plant-based, Chemical-based, Microbial-based)), By Animal Type (Cattle, Sheep, Goats), By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global ruminant methane reduction market size is anticipated to reach USD 3.98 billion by 2030, growing at a CAGR of 7.03% during the forecast period.
The increasing livestock population is a major factor contributing to the market growth. According to the National Dairy Development Board, India, the total cattle population in India in 2023 was approximately 192 million heads of bovine dairy cattle and around 113.3 million heads of Asian domestic water buffaloes, totaling 307.5 million heads.
The rising research and development (R&D) by government and market players to develop innovative solutions for methane reduction is projected to drive the growth of this market. Furthermore, ongoing advancements in technology technological innovations are expected to drive the demand for ruminant methane reduction, as they offer cost-effective and efficient solutions for mitigating methane emissions.
Stringent government regulations and rising awareness about climate change mitigation among stakeholders are some of the factors crucial to market growth. Governments across the world are increasingly recognizing the importance of reducing greenhouse gas emissions, including methane, from the agricultural sector and are implementing policies, providing incentives to encourage farmers to adopt practices and technologies that help in reducing methane emissions from ruminants.
Ruminant Methane Reduction Market Report Highlights
- Feed additives/ Supplements dominated the product segment with a revenue share of over 90% in 2023, owing to increasing R&D and advancements in biotechnology and animal nutrition research
- In the product segment, the other products sector is expected to witness the fastest CAGR during the forecast period.
- In the animal type segment, the cattle sector held the largest revenue share of around 80% in 2023, due to the rising awareness about methane emission impact on environment and increasing focus of government on greenhouse emission reduction.
- In the animal type segment, the goats sector is anticipated to witness the fastest CAGR from 2024 to 2030. Innovations and technological advancements targeting methane emission reduction from goats is expected to drive market growth.
- North America dominated the market in 2023, owing to increase in investments and financial incentives aimed at reducing methane emission. Asia Pacific, on the other hand, is expected to witness the fastest CAGR during forecast period.
- In April 2023, CH4 Global, Inc. introduced Methane Tamer Beef Feedlot, a proprietary methane-reducing feed formulation for cattle, featuring Asparagopsis seaweed to achieve up to 90% reduction in methane emissions
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.47 Billion |
| Forecasted Market Value (USD) by 2030 | $3.98 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3. Ruminant Methane Reduction Market Industry Outlook
3.1 Market Lineage Outlook
3.2 Ruminant Methane Reduction Market Dynamics
3.2.1 Market Driver Impact Analysis
3.2.1.1 Rise In Livestock Population
3.2.1.2 Growing Awareness About Climate Change And Need For Ruminant Methane Reduction
3.2.1.3 Increasing R&D Investments
3.2.1.4 Supportive Initiatives By Industry Stakeholders
3.2.2 Market Restraint Impact Analysis
3.2.2.1 Cost Considerations
3.2.2.2 Limited Availability And Scalability Of Methane Reduction Technologies
3.2.3 Market Opportunity Analysis
3.2.4 Market Challenge Analysis
3.3 Ruminant Methane Reduction Market: Porter's 5 Forces Analysis
3.4 Ruminant Methane Reduction Market: PESTEL Analysis
3.5 Product Pipeline Analysis
3.6 COVID-19 Impact Analysis
Chapter 4. Product Estimates & Trend Analysis, 2023 - 2030 (USD Million)
4.1 Type Market Share, 2023 & 2030
4.2 Ruminant Methane Reduction Market by Product: Key Takeaways
4.3 Product Movement Analysis & Market Share, 2023 & 2030
4.4 Ruminant Methane Reduction Market Estimates & Forecast, by Product (USD Million)
4.5 Feed Additives/Supplements
4.5.2 Plant-Based
4.5.3 Chemical-Based
4.5.4 Microbial Based
4.6 Other Products
Chapter 5. Animal Type Estimates & Trend Analysis, 2023 - 2030 (USD Million)
5.1 Ruminant Methane Reduction Market by Animal Type: Key Takeaways
5.2 Animal Type Movement Analysis & Market Share, 2023 & 2030
5.3 Ruminant Methane Reduction Market Estimates & Forecast, by Animal Type (USD Million)
5.4 Cattle
5.5 Sheep
5.6 Goats
Chapter 6. Ruminant Methane Reduction Market: Regional Estimates & Trend Analysis
6.1 Regional Outlook
6.2 Regional Market Share Analysis, 2023 & 2030
6.3 Regional Marketplace, Key Takeaways
Chapter 7. Competitive Landscape
7.1 Participants' Overview
7.2 Financial Performance
7.3 Product Benchmarking
7.4 Market Participant Categorization
7.5 Market Position Analysis, 2023 (Heat Map Analysis)
7.6 Strategy Mapping
7.7 List of Key Market Players
- DSM
- Blue Ocean Barns
- Alltech
- CH4 GLOBAL, INC.
- Mootral Private
- Symbrosia Inc.
- Fonterra Co-operative Group Limited
- Elanco Animal Health Inc.
- Rumin8 Ltd
- Zelp Ltd
- Cargill, Incorporated
- FutureFeed
For more information about this report visit https://www.researchandmarkets.com/r/mlg9k4
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