Overview and Scope
Animal growth promoters and performance enhancers refer to the substances that are added to feeds as supplements or injections to increase feed utilization and growth in farm animals, as well as veterinary medicinal products that are administered to healthy animals in order to favourably influence the yield, quality, and/or growth of animal products.
Sizing and Forecast
The animal growth promoters and performance enhancers market size has grown strongly in recent years. It will grow from <b>$14.65 billion in 2023 to $15.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to growing meat demand, feed conversion efficiency, antibiotics in feed.
The animal growth promoters and performance enhancers market size is expected to see strong growth in the next few years. It will grow to <b>$20.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the forecast period can be attributed to antibiotic reduction, sustainable agriculture, nutritional enhancers, customized nutrition. Major trends in the forecast period include phytogenic and natural additives, antibiotic reduction, nutritional additives, hormone-free and steroid-free meat production.
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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the animal growth promoters and performance enhancers market in 2023. <b>Asia-Pacific</b> 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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Major Driver Impacting Market Growth
The growing demand for meat is a significant factor that will drive the market for animal growth promoters and performance enhancers. Animal growth promoters make the animal accumulate fat and weight, resulting in more meat production and a more expensive animal. Meat is a major protein source for many people around the world. According to a study by FAO, the production of meat has doubled in the last 30 years and increased four-fold since the mid-1960s. The production and consumption of meat are expected to continue to grow. By 2050, global meat consumption is projected to reach between 460 million and 570 million tons. This is expected to drive the animal growth promoters and performance enhancers market.
Key Industry Players
Major companies operating in the animal growth promoters and performance enhancers market include <b>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</b>
The animal growth promoters and performance enhancers market report table of contents includes:
1. Executive Summary
2.Animal Growth Promoters And Performance Enhancers Market Characteristics
3.Animal Growth Promoters And Performance Enhancers Market Trends And Strategies
4.Animal Growth Promoters And Performance Enhancers Market analysis
5.Animal Growth Promoters And Performance Enhancers Market Size And Growth
6.Animal Growth Promoters And Performance Enhancers Segmentation
7.Animal Growth Promoters And Performance Enhancers Regional And Country Analysis
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27.Animal Growth Promoters And Performance Enhancers Competitive Landscape And Company Profiles
28.Animal Growth Promoters And Performance Enhancers Key Mergers And Acquisitions
29.Animal Growth Promoters And Performance Enhancers Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Merck and Co. Inc.
- Cargill Inc.
- Royal DSM N.V.
- Vetoquinol S.A.
- Bupo Animal Health
- Elanco Animal Health Inc.
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