Overview and Scope
Animal growth promoters and performance enhancers refer to the substances that are added to feeds as supplements or injections to increase feed utilization and growth in farm animals, as well as veterinary medicinal products that are administered to healthy animals in order to favourably influence the yield, quality, and/or growth of animal products.
Sizing and Forecast
The animal growth promoters and performance enhancers market size has grown strongly in recent years. It will grow from <b>$14.65 billion in 2023 to $15.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to growing meat demand, feed conversion efficiency, antibiotics in feed.
The animal growth promoters and performance enhancers market size is expected to see strong growth in the next few years. It will grow to <b>$20.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the forecast period can be attributed to antibiotic reduction, sustainable agriculture, nutritional enhancers, customized nutrition. Major trends in the forecast period include phytogenic and natural additives, antibiotic reduction, nutritional additives, hormone-free and steroid-free meat production.
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Segmentation & Regional Insights
The animal growth promoters and performance enhancers market covered in this report is segmented –
1) By Type: Antibiotic Growth Promoters, Non-Antibiotic Growth Promoters
2) By Animal Type: Poultry, Swine, Livestock, Aquaculture, Other Animals
3) By Nature of Chemicals: Microbial Products, Prebiotics And Probiotics, Yeast Products, Enzymes/Herbs, Oils And Spices
<b>North America</b> was the largest region in the animal growth promoters and performance enhancers market in 2023. <b>Asia-Pacific</b> was the second-largest region in the animal growth promoters and performance enhancers market. The regions covered in the animal growth promoters and performance enhancers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing demand for meat is a significant factor that will drive the market for animal growth promoters and performance enhancers. Animal growth promoters make the animal accumulate fat and weight, resulting in more meat production and a more expensive animal. Meat is a major protein source for many people around the world. According to a study by FAO, the production of meat has doubled in the last 30 years and increased four-fold since the mid-1960s. The production and consumption of meat are expected to continue to grow. By 2050, global meat consumption is projected to reach between 460 million and 570 million tons. This is expected to drive the animal growth promoters and performance enhancers market.
Key Industry Players
Major companies operating in the animal growth promoters and performance enhancers market include <b>Merck and Co. Inc., Cargill Inc., Royal DSM N.V., Vetoquinol S.A., Bupo Animal Health, Elanco Animal Health Inc., Alltech Biotechnology Pvt. Ltd., Bayer HealthCare Animal Health Inc., Zoetis Inc., Bioniche Life Sciences Inc., Danisco A/S, Du Pont De Nemours and Company, C.H. Boehringer Sohn AG & Co. KG, Associated British Foods plc, Biomin Holding GmbH, Chr. Hansen A/S, Novus International Inc., Intervet Inc., Hipra India Pvt. Ltd., Kepro Technologies Private Limited, Pancosma S.A., Provimi Holding B.V., Trouw Nutrition International B.V., Zagro Asia Limited, Biostadt India Limited, ECO Animal Health Group plc, Heska Corporation, IDEXX Laboratories Inc., Kyoritsu Seiyaku Corporation, Neogen Corporation</b>
The animal growth promoters and performance enhancers market report table of contents includes:
1. Executive Summary
2.Animal Growth Promoters And Performance Enhancers Market Characteristics
3.Animal Growth Promoters And Performance Enhancers Market Trends And Strategies
4.Animal Growth Promoters And Performance Enhancers Market analysis
5.Animal Growth Promoters And Performance Enhancers Market Size And Growth
6.Animal Growth Promoters And Performance Enhancers Segmentation
7.Animal Growth Promoters And Performance Enhancers Regional And Country Analysis
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27.Animal Growth Promoters And Performance Enhancers Competitive Landscape And Company Profiles
28.Animal Growth Promoters And Performance Enhancers Key Mergers And Acquisitions
29.Animal Growth Promoters And Performance Enhancers Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Merck and Co. Inc.
- Cargill Inc.
- Royal DSM N.V.
- Vetoquinol S.A.
- Bupo Animal Health
- Elanco Animal Health Inc.
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The growth of this market is primarily driven by the increasing global meat demand, research into alternatives to antibiotics, and the need to deal with epidemics and environmental factors.
However, various countries have stringent regulations in place against antibiotics and particular growth promoters, which has affected their adoption.The report Animal Growth Promoters and Performance Enhancers Market is projected to reach USD 18.5 billion by 2024 from an estimated USD 13.9 billion in 2019, at a CAGR of 5.9% during the forecast period.Ask for PDF Brochure: -https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=137134167Market Segmentations: -.Based on type, the animal growth promoters market is segmented into antibiotic and non-antibiotic growth promoters.
The non-antibiotic growth promoters segment accounted for the largest share of the animal growth promoters and performance enhancers market in 2018.On the basis of animal type, the Animal Performance Enhancers Market is segmented into poultry, swine, livestock, aquaculture, and other farm animals (equine, rabbit, camel, deer, yak, and geese).
In 2019, the poultry segment accounted for the largest share of the animal growth promoters and performance enhancers market.Critical questions answered in the Report: -How will the current animal growth promotion trends affect the market in the long term?What are the reasons contributing to the growth of the non-antibiotic growth promoters segment in the market?Which regions are likely to grow at the highest CAGR?What are the challenges hindering the adoption of equipment in the market?What are the growth strategies being implemented by major market players?Regional Analysis: -In 2019, the Asia Pacific region accounted for the largest market share of 36.7%, followed by North America (26.1%) in 2018.
The largest share of the Asia Pacific region is attributed to the strong animal products industry in this region, high population (generating greater domestic meat demand), a comparatively relaxed regulatory scenario, and government efforts to encourage animal producers.Request for Sample Pages : - https://www.marketsandmarkets.com/requestsampleNew.asp?id=137134167Key Players: -The key players in the global animal performance enhancers market are Merck and Co. Inc. (US), Cargill Inc. (US), Royal DSM N.V. (Germany), Vetoquinol (France), Bupo Animal Health (SA), Elanco Animal Health Inc. (US), CHR Hansen (UK), Novus International Inc. (US), Associated British Foods (ABF) plc (UK), Alltech Inc. (US), ERBER AG (UK), Archer-Daniels-Midland Company (US), Phibro Animal Health Corporation (US), Kemin Industries (US), SHV (Nutreco) (UK), BASF SE (UK), Lallemond Inc. (Canada), Bluestar Adisseo Company (France), Evonik Industries AG (UK), and Land O Lake Inc.(US).
Animal Growth Promoters And Performance Enhancers Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the animal growth promoters and performance enhancers industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected animal growth promoters and performance enhancers market growth numbers 2021-2030.
View Complete Report:https://www.thebusinessresearchcompany.com/report/animal-growth-promoters-and-performance-enhancers-global-market-report-2020-30-covid-19-growth-and-change The Animal Growth Promoters And Performance Enhancers Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global animal growth promoters and performance enhancers market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The Animal Growth Promoters And Performance Enhancers Global Market Report 2021 covers animal growth promoters and performance enhancers market drivers, animal growth promoters and performance enhancers market trends, animal growth promoters and performance enhancers market growth rate, animal growth promoters and performance enhancers market major players, player-adopted strategies in the market, and animal growth promoters and performance enhancers market size.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
