Press release
Major Market Shift in Animal Growth Promoters And Performance Enhancers Industry: Rising Global Meat Demand Spurs Growth In Animal Growth Promoters And Performance Enhancers Market
Animal Growth Promoters And Performance Enhancers Market Size
The market for animal growth promoters and performance enhancers has experienced robust expansion in the past few years. The projected growth from $15.17 billion in 2024 to $16.19 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%, signifies this trend. The surge in the historic phase is due to factors such as increased demand for meat, improved feed conversion efficiency, and the use of antibiotics in feed.
The market for animal growth promoters and performance enhancers is anticipated to witness substantial growth in the coming years, with it projected to reach $20.85 billion in 2029, showcasing a compound annual growth rate (CAGR) of 6.5%. This growth, expected during the forecast period, can be ascribed to factors like reduction in antibiotics usage, adoption of sustainable agriculture techniques, use of nutritional enhancers, and customization of nutrition. Notable trends in the predicted period include the use of natural and phytogenic additives, reduction of antibiotic usage, implementation of nutritional additives, and the production of meat free from steroids and hormones.
What Factors Are Propelling the Expansion of the Animal Growth Promoters And Performance Enhancers Market?
The increasing requirement for meat is a significant driver for the animal growth promoters and performance enhancer market. These growth promoters cause the animals to gain fat and weight, leading to higher meat production and raising the animal's worth. Meat is a crucial protein resource for many individuals worldwide. As per an FAO survey, meat production has doubled over the past three decades. The production and consumption of meat are anticipated to persistently escalate. Projections for global meat consumption by 2050 lie between 460 million and 570 million tons, which is likely to propel the market for animal growth promoters and performance enhancers.
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Which Businesses Are at the Forefront of Animal Growth Promoters And Performance Enhancers Market Development?
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
How Is the Animal Growth Promoters And Performance Enhancers Market Segmented?
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
Subsegments:
1) By Antibiotic Growth Promoters: Tetracyclines, Penicillins, Macrolides, Aminoglycosides
2) By Non-Antibiotic Growth Promoters: Probiotics, Prebiotics, Enzymes, Phytogenics, Hormones
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Where Is the Animal Growth Promoters And Performance Enhancers Market Growth Most Prominent?
North America was the largest region in the animal growth promoters and performance enhancers market in 2023. Asia-Pacific 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
What Is Covered In The Animal Growth Promoters And Performance Enhancers Global Market Report?
- Market Size Analysis: Analyze the Animal Growth Promoters And Performance Enhancers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Animal Growth Promoters And Performance Enhancers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Animal Growth Promoters And Performance Enhancers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Animal Growth Promoters And Performance Enhancers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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