Global Animal Growth Promoters Market Deemed to Attain USD 28,532.3 Million in Revenue By 2030 | Infinium Global Research

The Global Animal Growth Promoters Market, which was valued at USD 17,175.3 million in 2022, is set to experience robust growth, reaching USD 28,532.3 million by 2030, driven by a compelling Compound Annual Growth Rate (CAGR) of 6.70% during the forecast period. The mounting global population's appetite for animal-derived food products is a chief catalyst propelling this market's expansion. Increased meat consumption worldwide is leading to a surge in the demand for animal growth promoters, bolstering the market. Rising disposable incomes and the ability of growth promoters to enhance farmers' livestock income further contribute to the market's growth. However, regulatory restrictions on antibiotics and hormones in animal growth promotion pose challenges, while investments in natural growth promoters offer promising opportunities.

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Global Population Growth Fuels Demand for Animal-Derived Food

With the world's population growing at a rate of approximately 1.05% per year, adding an estimated 81 million people annually, the demand for food from animal sources is escalating. Animal-derived food products, such as pork, beef, sheepmeat, eggs, milk, and chicken, are crucial sources of protein and essential micronutrients for a growing global population. Over the last half-century, meat consumption has more than tripled, with the world now producing over 340 million tonnes of meat annually. On average, people consume approximately 75 pounds of meat per person annually, as reported by the Organization for Economic Cooperation and Development. In the United States, this figure stands significantly higher, with the average American consuming around 144 pounds of meat in 2017, according to the United States Department of Agriculture.

Animal Growth Promoters: Enhancing Food Production

Animal growth promoters, also known as supplements or injections added to animal feeds, play a pivotal role in improving feed utilization and animal growth. These substances, categorized as chemicals and drugs for animal growth, enable efficient digestion and rapid growth, ultimately enhancing productivity. Growth promoters are especially beneficial in ruminant animal food production.

According to FAO statistics, poultry meat production reached 120.5 million tonnes in 2017, while bovine meat recorded 70.8 million tonnes, and swine meat reached 118.7 million tonnes. The increased usage of growth promoters and performance enhancers by farmers has become a prevailing trend. These promoters enhance growth, efficiency, fat and protein distribution, and the feed-to-muscle concentration ratio, significantly contributing to animal nutrition. Growth promoters are orally active and can be administered via feed or drinking water.

Rising Demand for Livestock-Based Products

The global surge in demand and consumption of livestock-based products like dairy, meat, and eggs are key drivers of the animal growth promoters market. Cattle producers extensively use growth promoters to enhance food product quality and overall efficiency.

The most commonly applied growth promoters include feed additives, anabolic implants, bovine somatotropin, probiotics, and more. Furthermore, certain growth promoters, like hormonal promoters, have demonstrated various positive effects in animal production, including disease prevention and treatment.

Regulatory Hurdles and Opportunities

Despite the market's promising growth, regulatory restrictions present challenges. Several countries have banned antibiotics and imposed stringent regulations on hormones for animal growth promotion. For instance, India's Health Ministry has banned antibiotics, including Colistin, and their formulations for food-producing animals, poultry, aquafarming, and animal feed supplements. In the United States, the Food and Drug Administration (FDA) enforced regulations banning antibiotics as feed supplements to accelerate livestock and poultry growth, effective from January 1, 2017. The European Union (EU) had already banned antibiotic growth promoters in food-animal farming in 2006.

However, natural growth promoters, considered alternatives to antibiotics, are gaining traction. These non-antibiotic growth promoters are increasingly being used in poultry feed and water, offering a safer and more sustainable approach to animal growth promotion. Producers are turning to natural growth promoters to comply with the evolving regulatory landscape.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Animal Growth Promoters Market Highlights

2.2. Animal Growth Promoters Market Projection

2.3. Animal Growth Promoters Market Regional Highlights

Chapter 3. Global Animal Growth Promoters Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Animal Growth Promoters Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Product Type

3.5.2. IGR-Growth Matrix Analysis by Animal Type

3.5.3. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of Animal Growth Promoters Market

Chapter 4. Animal Growth Promoters Market Macro Indicator Analysis

Chapter 5. Global Animal Growth Promoters Market by Product Type

5.1. Antibiotics

5.2. Non-antibiotics

5.2.1. Feed Enzymes

5.2.2. Hormonal

5.2.3. Acidifiers

5.2.4. Probiotics & Prebiotics

5.2.5. Phytogenic

5.2.6. Others

Chapter 6. Global Animal Growth Promoters Market by Animal Type

6.1. Livestock

6.2. Aquaculture

6.3. Poultry

6.4. Porcine

Chapter 7. Global Animal Growth Promoters Market by Region 2023-2030

7.1. North America

7.1.1. North America Animal Growth Promoters Market by Product Type

7.1.2. North America Animal Growth Promoters Market by Animal Type

7.1.3. North America Animal Growth Promoters Market by Country

7.2. Europe

7.2.1. Europe Animal Growth Promoters Market by Product Type

7.2.2. Europe Animal Growth Promoters Market by Animal Type

7.2.3. Europe Animal Growth Promoters Market by Country

7.3. Asia-Pacific

7.3.1. Asia-Pacific Animal Growth Promoters Market by Product Type

7.3.2. Asia-Pacific Animal Growth Promoters Market by Animal Type

7.3.3. Asia-Pacific Animal Growth Promoters Market by Country

7.4. RoW

7.4.1. RoW Animal Growth Promoters Market by Product Type

7.4.2. RoW Animal Growth Promoters Market by Animal Type

7.4.3. RoW Animal Growth Promoters Market by Sub-region

Chapter 8. Company Profiles and Competitive Landscape

8.1. Competitive Landscape in the Global Animal Growth Promoters Market

8.2. Companies Profiles

8.2.1. Boehringer Ingelheim Group (Germany)

8.2.2. Merck & Co., Inc (US)

8.2.3. Alltech Corporation (US)

8.2.4. Archer-Daniels-Midland Company (ADM) (US)

8.2.5. Vetoquinol S.A. (France)

8.2.6. Cargill, Incorporated (US)

8.2.7. Royal DSM N.V. (Netherlands)

8.2.8. Elanco Animal Health Incorporated (US)

8.2.9. Phibro Animal Health Corporation (US)

8.2.10. Kemin Industries, Inc. (US)

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of Animal Growth Promoters.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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