South Korea Ruminant Methane Reduction Market Size & Outlook
South Korea ruminant methane reduction market, 2023-2030 (US$M)
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South Korea ruminant methane reduction market highlights
- The South Korea ruminant methane reduction market generated a revenue of USD 18.6 million in 2023 and is expected to reach USD 35.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.5% from 2024 to 2030.
- In terms of segment, feed additives/ supplements was the largest revenue generating product in 2023.
- Other Products is the most lucrative product segment registering the fastest growth during the forecast period.
Ruminant methane reduction market data book summary
| Market revenue in 2023 | USD 18.6 million |
| Market revenue in 2030 | USD 35.3 million |
| Growth rate | 9.5% (CAGR from 2023 to 2030) |
| Largest segment | Feed additives/ supplements |
| Fastest growing segment | Other Products |
| Historical data | 2023 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Feed Additives/ Supplements, Other Products |
| Key market players worldwide | DSM Firmenich AG, Elanco Animal Health Inc, Blue Ocean Barns, Alltech, CH4 Global, Mootral, Symbrosia, Fonterra Shareholders Fund, Rumin8, ZELP, Cargills Ceylon, FutureFeed |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global ruminant methane reduction market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India ruminant methane reduction market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 32.9 million by 2030.
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Ruminant Methane Reduction Market Scope
Ruminant Methane Reduction Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea ruminant methane reduction market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ruminant methane reduction market will help companies and investors design strategic landscapes.
Feed additives/ supplements was the largest segment with a revenue share of 90.32% in 2023. Horizon Databook has segmented the South Korea ruminant methane reduction market based on feed additives/ supplements, other products covering the revenue growth of each sub-segment from 2023 to 2030.
In South Korea, collaborations among government agencies, research institutions, industry stakeholders, and agricultural organizations catalyze the development and uptake of methane reduction solutions, propelling market expansion.
Through concerted efforts, these partnerships enable sharing expertise, resources, and funding to advance innovative technologies and practices to mitigate ruminant methane emissions. This collective approach fosters a conducive environment for knowledge exchange.
The strategic partnership aimed to introduce Methane Tamer, a technology designed to reduce ruminant enteric methane emissions, to South Korea. Lotte International and CH4 Global have been progressing studies for regulatory approval in South Korea in consultation with relevant governmental bodies.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea ruminant methane reduction market , including forecasts for subscribers. This country databook contains high-level insights into South Korea ruminant methane reduction market from 2023 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea ruminant methane reduction market size, by product, 2023-2030 (US$M)
South Korea Ruminant Methane Reduction Market Outlook Share, 2023 & 2030 (US$M)
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