What is the global market size of Animal Growth Promoters And Performance Enhancers Market?

The Global Animal Growth Promoters and Performance Enhancers market was valued at USD 16.2 Billion in 2021, and it is expected to reach a value of USD 23.9 Billion by 2028, at a CAGR of 5.7% over the forecast period (2022 - 2028). Read More

Animal Growth Promoters And Performance Enhancers Market Size, Share, Growth Analysis, By Animal Type(Poultry, Swine, Ruminant, Aquaculture), By Product(Hormonal Growth Promoters, Antibiotic Growth Promoters, Feed Enzyme Growth Promoters, Organic Acid Growth Promoters), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2258 | Region: Global | Published Date: October, 2024
Pages: 211 | Tables: 66 | Figures: 75

Animal Growth Promoters And Performance Enhancers Market Insights

Animal Growth Promoters And Performance Enhancers Market size was valued at USD 13.23 billion in 2019 and is poised to grow from USD 13.99 billion in 2023 to USD 17.79 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

Animal growth is aided by a variety of medications and substances, such as performance boosters and growth promoters. Animals are able to digest food more efficiently and grow more quickly thanks to these enhancers, which also increase output. The animal growth promoters and performance enhancers market is growing primarily as a result of expanding demand for meat and other animal products, increasing need for naturally produced growth promoters on a global scale, and rising animal diseases and climate change. However, the market for animal growth promoters and performance enhancers is anticipated to see certain growth restraints during the forecast period due to antibiotic bans in some countries and rigorous laws limiting the use of antibiotics and hormones for animal growth promotion.

US Animal Growth Promoters And Performance Enhancers Market is poised to grow at a sustainable CAGR for the next forecast year.

Animal Growth Promoters And Performance Enhancers Market Report Snapshots

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The animal growth promoters and performance enhancers market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key animal growth promoters and performance enhancers market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Cargill, Inc.', 'Zoetis Inc.', 'Royal DSM N.V.', 'Elanco Animal Health', 'Alltech Corporation', 'Archer Daniels Midland Company', 'Boehringer Ingelheim Animal Health GmbH', 'Evonik Industries AG', 'Kemin Industries, Inc.', 'Phibro Animal Health Corporation', 'Novozymes A/S', 'BASF SE', 'Chr. Hansen Holding A/S', 'DuPont de Nemours, Inc.', 'Danisco A/S', 'Biomin Holding GmbH', 'Nutreco N.V.', 'Lallemand Animal Nutrition', 'Adisseo France SAS', 'Biovet JSC'

Some of the beneficial approaches are being implemented to reduce the frequency of infections in farm animals in order to reduce the overuse of antibiotics. The popularity of organic dairy farms is rising in nations including the UK, Norway, and Sweden. To make sure that animals are independent of their moms nutritionally, immunologically, and psychologically, good weaning procedures are also being developed.

Growing concerns about animal epidemics and increased knowledge of animal health are said to have a favorable effect on the global market. Over the next six years, it is projected that strict rules, such as those restricting the use of antibiotics as growth promoters, would present difficulties for a few regional markets. Consumer ignorance of animal growth promoters and performance boosters could hinder industry expansion. The animal growth promoters and performance enhancers market participants are assured of a wealth of prospects by R&D investments in the development of natural growth promoters and performance enhancers. Animal growth promoters and performance enhancers that are new, secure, and better expand the prospects available to industry participants. In developing regions like Asia Pacific, where legislation and guidelines governing animal growth promoters & growth enhancers are more lenient, there should be plenty of room for market expansion.

By region, Asia Pacific held the biggest market share for animal growth promoters and performance boosters throughout the forecast period. In 2021, the Asia Pacific region held the highest market share, followed by North America. The Asia Pacific region has a large share, which can be attributed to its robust animal products industry, large population, which increases domestic meat demand, relatively lax regulatory environment, and government initiatives to support animal producers.

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Animal Growth Promoters And Performance Enhancers Market Insights

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