Animal Growth Promoter Market

Animal Growth Promoter Market Size

Global Animal Growth Promoter Market to surpass USD 32.16 billion by 2031 from USD 17.13 billion in 2021 at a CAGR of 6.4% in the coming years, i.e., 2021-31.

Animal health products, which include growth promoters and performance enhancers, are drugs and chemicals used to help animals grow. These enhancers aid in the digestion of food and allow animals to grow faster, which improves productivity. The rising demand for animal consumption and consumption of livestock-based products, rising global demand for naturally produced growth promoters, and rising animal epidemics and climate change are all driving growth in the animal growth promoters and performance enhancers market.

Market Highlights

Global Animal Growth Promoter Market is expected to project a notable CAGR of 6.4% in 2031.

Global Animal Growth Promoter Market to surpass USD 32.16 billion by 2031 from USD 17.13 billion in 2021 at a CAGR of 6.4% in the coming years, i.e., 2021-31. The rise in global meat production can be attributed to rising population, income levels, and urbanisation rates in almost all regions of the world. The demand generated by these forces has propelled the animal growth promoter industry into an ever-expanding phase, driving revenue forward. The need for increased animal performance and growth rates is another aspect of this high demand.

Global Animal Growth Promoter Market: Segments

Poultry segment to grow with the highest CAGR during 2021-31

Based on type, global Animal Growth Promoter Market is fragmented into Poultry, Livestock, Porcine, Equine, Aquaculture and Other. During the forecasted period, poultry held the largest market share. The poultry industry accounted for the largest share of the global market for animal growth promoters and performance enhancers. This segment's large market share can be attributed to rising demand for poultry meat and eggs, rising novel diet approaches, and increasing antibiotic phase-outs, which has resulted in the development of alternatives.

Probiotic and Prebiotic Growth Promoters segment to grow with the highest CAGR during 2021-31

Global Animal Growth Promoter Market is classified on the basis of Product into Antibiotic Growth Promoters, Hormonal Growth Promoters, Probiotic and Prebiotic Growth Promoters, Organic Acid Growth Promoters and Phytogenics. In the forecasted period, offline is the largest distribution channel in the Animal Growth Promoter market. Prebiotics and probiotics held the largest share of the animal growth promoters and performance enhancers market. This is due primarily to their safety, natural performance-enhancing properties, and high nutritional value. The use of prebiotic, probiotic, and synbiotic growth promoters is safe and free of any cumulative future effects, which encourages the use of these products.

Market Dynamics

Drivers

Rising population and global meat consumption

The increasing global meat consumption and disposable income are the major factors driving the growth of animal growth promoters and performance enhancers. Furthermore, rapid population growth around the world has increased demand for food from animal sources, which is expected to fuel the growth of the animal growth promoters & performance enhancers industry. Furthermore, using these growth promoters and performance enhancers helps farmers increase their income from livestock, which is expected to support market growth.

Increase in awareness and R&D investments

Growing concerns about animal epidemics and increased awareness about animal health are expected to have a positive impact on the global market. R&D investments in natural growth promoters and performance enhancers promise a plethora of opportunities for market participants. Animal growth promoters and performance enhancers that are innovative, safe, and improved add to the opportunities for industry participants. In the emerging regions, simple regulations and guidelines governing animal growth promoters and growth enhancers are expected to provide ample opportunities for market growth.

Restraint

Stringent rules and regulations and consumers lack of knowledge

Stringent rules and regulations regarding the use of animal growth promoters and performance enhancers in some countries can stifle the growth of the animal growth promoters and performance enhancers industry. Consumers' lack of knowledge about animal growth promoters and performance enhancers may pose a challenge to market growth.

Global Animal Growth Promoter Market: Key Players

• Biomin

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Elanco Animal Health
• Zoetis, Inc.
• Alltech, Inc.
• Bayer Animal Health
• Kemin
• Yiduoli
• DowDuPont
• Novozymes

• Other Prominent Players

Global Animal Growth Promoter Market: Regions

Global Animal Growth Promoter Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. During the forecast period, Asia Pacific accounted for the largest share of the global animal growth promoters and performance enhancers market by region. The Asia Pacific region's large share can be attributed to the region's strong animal products industry, large population generating increased domestic meat demand, comparatively relaxed regulatory environment, and government efforts to encourage animal producers.

Global Animal Growth Promoter Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Animal Growth Promoter Market report also contains analysis on:

Animal Growth Promoter Market Segments:

• By Type
  • Poultry
  • Livestock
  • Porcine
  • Equine
  • Aquaculture
  • Other
• By Product
  • Antibiotic Growth Promoters
  • Hormonal Growth Promoters
  • Probiotic and Prebiotic Growth Promoters
  • Organic Acid Growth Promoters
  • Phytogenics
• Animal Growth Promoter Market Dynamics
• Animal Growth Promoter Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Animal Growth Promoter Market Report Scope and Segmentation

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