Press release
Animal Growth Promoters And Performance Enhancers Market Report 2024: Strategies And Recent Developments | Merck and Co. Inc., Cargill Inc., Royal DSM N.V., Vetoquinol S.A., Bupo Animal Health, Elanco Animal Health Inc
The Business Research Company offers in-depth market insights through Animal Growth Promoters And Performance Enhancers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The animal growth promoters and performance enhancers market size has grown strongly in recent years. It will grow from $14.65 billion in 2023 to $15.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. 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 $20.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. 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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Market Segmentation:
The main types of animal growth promoters and performance enhancers are antibiotic growth promoters and non-antibiotic growth promoters. Antibiotic growth promoters refer to the promoters that will enhance the health of the animal and increase productivity. These include natural chemicals such as microbial products, prebiotics, and probiotics, yeast products, enzymes and herbs, oils, and spices. The different types of animals that use animal growth promoters and performance enhancers include poultry, swine, livestock, aquaculture, and other animals.
Major Driver - Rising Global Meat Demand Spurs Growth In Animal Growth Promoters And Performance Enhancers Market
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.
Competitive Landscape:
Major companies operating in the animal growth promoters and performance enhancers market include 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
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Top Trend - Investment Surge In Phytogenics Unlocking Natural Growth Promoters Potential In Animal Nutrition Market
Companies in the market are increasingly investing in phytogenics for higher efficiency of growth promoters through natural means. Phytogenics, sometimes also referred to as botanicals or phytobiotics, are plant-based feed additives utilised in animal nutrition. They are derived from herbs, spices, and extracts. Phytochemicals can be used in solid, dried, and ground form or as extracts, and can also be classified as essential oils and oleoresins depending on the process used to derive the active ingredients. The use of phytogenics promotes increased feed intake, improved gut function, prevention of diarrhea, and antimicrobial and antioxidative effects in livestock. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics.
The Table Of Content For The Market Report Include:
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 - Macro Economic Scenario
5. Animal Growth Promoters And Performance Enhancers Market Size And Growth
…..
27. Animal Growth Promoters And Performance Enhancers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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