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Ruminant Feed Antibiotics Market Size, Share Analysis, Industry Trends And Forecast 2023-2032
Ruminant Feed Antibiotics Market Report
The Business Research Company's Ruminant Feed Antibiotics Global Market Report 2023 identifies rising demand for dairy products as the major driver for the ruminant feed antibiotics market's growth in the forecast period. Dairy products are milk and any of the foods made from milk, such as butter, cheese, ice cream, yogurt and condensed and dried milk. Antibiotics in ruminant feed can improve animal performance, as antibiotics allow farmers to produce more milk with less feed input. Ruminant feed antibiotics are used to promote milk production in dairy cows. Some antibiotics cause the rumen bacteria colony (one of four stomachs in ruminant cattle) to produce more of the compounds required by cattle for growth.
The global ruminant feed antibiotics market size is expected to grow from $4.63 billion in 2022 to $5.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.40%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ruminant feed antibiotics market size is expected to reach $6.77 billion in 2027 at a CAGR of 7.79%.
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Major competitors in the ruminant feed antibiotics market are Elanco Animal Health Inc., Zoetis Inc., Merck And Co. Inc., Boehringer Ingelheim GmbH, Ceva Sante Animale SA.
A key trend in the ruminant feed antibiotics market includes product innovations. Major companies operating in the ruminant feed antibiotics market are focused on developing innovative solutions to strengthen their position in the market. For instance, in June 2021, Charoen Pokphand Foods PCL, a Thailand-based agro-industrial and food business, developed a unique feed formulation that comprises microorganisms and enhances farm animals' digestive systems through animal food that is suitable for all ages and species of animals. Animals are kept strong and healthy thanks to this probiotic technique without the use of antibiotics or growth hormones. Additionally, the substance boosts immunity and shields animals from illness.
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The ruminant feed antibiotics market is segmented -
•By Type: Tetracycline, Penicillin, Sulphonamides, Macrolides, Aminoglycosides, Cephalosporin, Other Types
•By Animal Type: Dairy Cattle, Beef Cattle, Other Animal Types
•By End-User: Dairy Farm, Veterinary Hospitals, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the ruminant feed antibiotics market.
The Business Research Company's "Global Ruminant Feed Antibiotics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Ruminant Feed Antibiotics Market Include:
1. Executive Summary
2. Ruminant Feed Antibiotics Market Characteristics
3. Ruminant Feed Antibiotics Market Trends And Strategies
4. Ruminant Feed Antibiotics Market - Macro Economic Scenario
5. Ruminant Feed Antibiotics Market Size And Growth
……
26. Africa Ruminant Feed Antibiotics Market
27. Ruminant Feed Antibiotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ruminant Feed Antibiotics Market
29. Ruminant Feed Antibiotics Market Future Outlook and Potential Analysis
30. Appendix
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