Press release
Animal Growth Promoters And Performance Enhancers Market Expansion Continues, with Forecast Valuation of $20.85 Billion by 2029
Animal Growth Promoters And Performance Enhancers Market
Animal Growth Promoters And Performance Enhancers Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for animal growth promoters and performance enhancers has seen significant expansion recently. There is a forecasted growth from $15.17 billion in 2024 to $16.19 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.7%. The market's previous growth has been driven by an increasing demand for meat, feed conversion efficiency, and the use of antibiotics in feed.
Animal Growth Promoters And Performance Enhancers Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for animal growth promoters and performance enhancers is forecast to experience substantial growth, expanding to a worth of $20.85 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 6.5%. This growth in the forecast period can be linked to contributing factors such as the reduction of antibiotics, sustainable agriculture practices, nutritional enhancers, and personalized nutrition approaches. Significant trends expected to emerge within this period encompass phytogenic and natural additives, a further reduction in antibiotic usage, increasing adoption of nutritional additives, and a shift towards the production of hormone and steroid-free meat.
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What Are the Drivers Transforming the Animal Growth Promoters And Performance Enhancers Market?
The escalating demand for meat is a crucial determinant in propelling the market for animal growth promoters and performance enhancers. These promoters aid in the accumulation of fat and weight in animals, which subsequently leads to an augmentation in meat production and an elevation in the animal's market value. Meat, being a dominant source of protein for numerous individuals across the globe, has seen a twofold increase in its production over the past three decades as per a report by FAO. The production as well as consumption of meat is anticipated to persist in its growth trajectory. Projections for 2050 show global meat consumption reaching anywhere between 460 million and 570 million tons, thereby further stimulating the market for animal growth promoters and performance enhancers.
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Which Segments in the Animal Growth Promoters And Performance Enhancers Market Offer the Most Profit Potential?
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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Which Firms Dominate the Animal Growth Promoters And Performance Enhancers Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Animal Growth Promoters And Performance Enhancers Market?
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
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