Animal Growth Promoters and Performance Enhancers Market Prediction and Analysis Offered By New Study During 2014 - 2020
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Microbial products capture the major share of the animal growth promoters and performance enhancers market. These products are used for destroying or inhibiting bacteria by administering a low dose. The use of microbial products for growth promotion has arisen with the strengthening of livestock farming. Infectious agents lessen the yield of farm animals and for controlling these microorganisms, the administration of sub-therapeutic antimicrobial agents and antibiotics is performed.
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Livestock and poultry are the dominating classes of animals which are provided with animal growth promoters and performance enhancers. Increase in the yield of the products such as eggs, wool and milk, which are originated from these animals is the major reason which is driving the animal growth promoters and performance enhancers market among livestock and poultry classes. Additionally, the increasing demand of meat worldwide is the other major factor which will propel the animal growth promoters and performance enhancers market in the future. Animal growth promoters help the animal in gaining weight and fat, which results in more meat production and expensive selling of animal. According to an experiment conducted by Biomin Holding GmbH, company involved in developing animal feed additives and premixes, the piglets which were fed with phytogenetic feed additives comprised of essential oils from anise, citrus, oregano and plant extracts gained 5.2% extra weight compared to the normal growing piglets. The faster growth of the animal coupled with extra meat and fat amount will assist the animal growth promoters and performance enhancers market during the forecast period.
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However, the stringent regulations set by the government of the U.S. and Europe against the use of animal growth promoters and performance enhancers is restraining its market. For instance, in 2003, the European Union has banned the use of antibiotic growth promoters which consist of monensin sodium, flavophospholipol, avilamycin and salinomycin sodium in the animal feed. Under the regulation, only the used or processed additives which would be authorized by European Food Safety Authority (EFSA) would only be allowed to be sold in the market. This regulation has resulted decline in the sales of microbial animal growth promoters and performance enhancers in the European countries, hence restraining the market.
Some of the market players in the animal growth promoters and performance enhancers market include Simfa Labs Pvt. Ltd., Bayer AG, Bioniche Life Sciences, Inc., Bupo Animal Health, Zoetis, Inc., Eli Lilly and Company, Merck & Co., Inc. and Cargill, Inc.
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