Market Size and Overview:

The animal growth promoters & performance enhancers market has been experiencing steady expansion due to the rising population, urbanization, and changing dietary habits of consumers worldwide. The market is expected to reach 22.58 billion by 2030, growing at a CAGR of 7.78% during the forecast period.

Revenue Drivers:

Several factors contribute to the growth of the animal growth promoters & performance enhancers market report.

Growing Global Population: The continuous increase in the global population has resulted in a higher demand for animal-based products, creating the need for improved animal productivity to meet these demands.

Rising Demand for Quality Animal Protein: The shift towards a protein-rich diet, especially in emerging economies, has fueled the demand for meat, milk, and eggs, driving the need for efficient animal growth promoters.

Technological Advancements: The development of innovative animal growth promoters and performance enhancers using advanced technologies has significantly improved their efficacy, thus boosting their adoption.

Increased Livestock Production: The expansion of commercial livestock farms and a focus on intensive animal farming have necessitated the use of growth promoters to enhance productivity.

Market Restraints:

Despite the promising growth prospects, the animal growth promoters & performance enhancers market also faces certain challenges, including:

Stringent Regulations: Regulatory authorities in various countries impose strict guidelines on the use of growth promoters in animals due to concerns related to antibiotic resistance and consumer safety.

Public Health Concerns: The use of certain growth promoters, especially those containing antibiotics, has raised public health concerns related to the potential transfer of residues to humans through animal products.

Increasing Adoption of Plant-Based Diets: The rise in popularity of plant-based diets has led to a shift away from animal-based products, affecting the overall demand for growth promoters in the animal agriculture sector.

Segmentation:

The animal growth promoters & performance enhancers market trend can be segmented based on type and animal type:

By Type:

Antibiotics

Hormonal Growth Promoters

Beta-agonists

Probiotics & Prebiotics

Organic Acids

Others

By Animal Type:

Poultry

Swine

Cattle

Aquaculture

Others

Key Players are: Vétoquinol and Bioniche Life Sciences Inc. (Canada), Bayer Animal Health GmbH (Germany), DSM N.V. Merck & Co. Inc. (US), Biomin Holding Gmbh (German), Boehringer Ingelheim International GmbH (Germany), Cargill Inc (US), Zoetis Inc.(US), AB Vista Inc. (UK), The Alltech Groupare (US), Elanco Animal Health Incorporated (US), Bupo Animal Health (South Africa), Chr. Hansen A/S (Denmark), Danisco A/S (Denmark), Novus International Inc. (US)

Related Reports:

Soil Conditioners Market Research Report Information by Type (Natural and Synthetic), Solubility (Water-Soluble and Hydrogels), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030

Biopesticides Market Research Report Information By Type (Bioherbicide, Bioinsecticide, and Bio Fungicide), By Form (Liquid and Dry), By Application (Soil, Foliar, and Seed), By Crop (Grain And Cereal, Oilseeds, Fruits, and Vegetables), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York, New York 10013, United States of America

PH no.: +1 646 845 9312

Email: sales@marketresearchfuture.com