The growing global demand for meat is a primary factor that will drive the future market of animal growth promoters and performance enhancers.
/EIN News/ — Newark, April 25, 2022 (GLOBE NEWSWIRE) — According to the new report published by The Brainy Insights,the global animal growth promoters and performance enhancers market is anticipated to grow from USD 11.08 Billion to USD 21.57 Billion by 2028 at a CAGR of 7.74% during the forecast period 2021-2028.
Animal growth promoters help animals gain more fat and weight, helping them produce more meat, thereby helping them sell at higher prices. Decreasing production costs and increasing demand for higher amounts of meat and fat will drive the growth of the animal growth promoter and performance enhancer markets.
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R & D investments in developing natural growth promoters and performance enhancers provide massive opportunity for market participants. Innovative and safe animal growth promoters and performance enhancers add additional opportunities for industry participants. Animal growth promoters are mainly of two types: antibiotics and non-antibiotics. The term “antibiotic growth promoter” refers to any drug that destroys or inhibits bacteria and is administered at low therapeutic doses. With the increase in livestock breeding, the use of antibiotics to promote growth has emerged.The various categories of livestock feed additives are called non-antibiotic growth promoters or natural growth promoters. They are generally regarded as preferred alternatives to antibiotic growth promoters in livestock production.Non-antibiotic growth promoters mainly include organic acids, prebiotics, probiotics, synbiotics, tannins, feed enzymes, and immune stimulants.
Increasing awareness of meat health is driving the demand for natural growth promoters to increase the production of healthy animals and thus stimulatingthe market growth.Strict regulations introduced by the U.S. and European government against the use of animal growth promoters and performance enhancers are, however, limiting the demand for animal growth promoters and performance enhancers.
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Key players operating in the global animal growth promoters and performance enhancers marketincludeRoyal DSM N.V., AlltechInc., Elanco Animal Health Inc., Cargill Inc., CHR Hansen, Merck and Co. Inc., Vetoquinol and Simfa Labs Pvt. Ltd.among others.The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global animal growth promoters and performance enhancers industry.
• For example, in 2016, two significant players, Adisseo and Novozymes, launched a probiotic called Alterion, capturing an untapped market for probiotics in the poultry industry.
• In October 2015, Novozymes, a pioneer in biologics solutions, acquired Pacific Vet Group-USA, Inc. (PVG) in October 2015, strengthening and expanding its position in the animal growth promoters and performance enhancers market. PVG manufactures and designs microbial-based technologies that enhance gut flora in poultry. This will reduce the use of antibiotics in animal farming. This production leads to an improvement in the overall health of livestock, food safety and animal growth.
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The non-antibiotic animal growth promoters segment led the animal growth promoters and performance enhancers market with the largest market share of 71.23% and the market value of around 7.9 billion in 2020
The product segment is divided into antibiotic and non-antibiotic. Due to its economic advantages, environmental sustainability, and increased regulation on antibiotics and hormones, the non-antibiotic animal growth promoters segment led the animal growth promoters and performance enhancers market with the largest market share of 71.23% and market value of around 7.9 billion in 2020.
The poultry segment led the animal growth promoters and performance enhancers market with a market share of 34.33% and a market value of around 3.81 billion in 2020
The animal segment includes poultry, porcine, livestock, aquaculture, and equine. Owing to new dietary approaches, increased poultry meat and egg demand, and phase-out of antibiotics, leading to the development of alternatives, the poultry segment led the animal growth promoters and performance enhancers market with a market share of 34.33% and a market value of around 3.81 billion in 2020. Increased yields of products such as eggsand milk from these animals are also major reasonsdriving the animal growth promoters and performance enhancers market among the poultry segment.
RegionalSegment Analysis of the Animal Growth Promoters and Performance Enhancers Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia-Pacific region led the global animal growth promoters and performance enhancersmarket with a market share of 36.14% and revenue of USD 4.01 billion in 2020. This increased demand can be attributed tothe strong animal product industry in the region, growing population (increasing domestic meat demand), relatively relaxed regulatory scenarios, and government efforts to encourage animal producers.The European market is expected to record the highest growth during the forecast period. Factors such as increased domestic livestock, poultry, and pork production, and decline in meat imports due to the ban on certain European growth promoters are driving the growth of the animal growth promoter and performance enhancer market in the region.
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About the report:
The global animal growth promoters and performance enhancers market is analysed on the basis of value (USD billion).All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
Article originally published at https://www.einpresswire.com/article/569882570/animal-growth-promoters-and-performance-enhancers-market-worth-us-21-57-bn-globally-by-2028-at-7-74-cagr-the-brainy-insights
originally published at Science - Reality Syndicate Viewers
This news story originally appeared at Science - Reality Syndicate Viewers on 27 April 2022