Animal Growth Promoter Market: By Type (Poultry, Livestock, Porcine, Equine, Aquaculture and Other); By Product (Antibiotic Growth Promoters, Hormonal Growth Promoters, Probiotic and Prebiotic Growth Promoters, Organic Acid Growth Promoters and Phytogenics), And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
Animal Growth Promoter Market: By Type (Poultry, Livestock, Porcine, Equine, Aquaculture and Other); By Product (Antibiotic Growth Promoters, Hormonal Growth Promoters, Probiotic and Prebiotic Growth Promoters, Organic Acid Growth Promoters and Phytogenics), And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
PRODUCT OVERVIEWAnimal 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 HIGHLIGHTSGlobal 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 DYNAMICSDrivers
Rising population and global meat consumption
Increase in awareness and R&D investments
Restraint
Stringent rules and regulations and consumers lack of knowledge
GLOBAL ANIMAL GROWTH PROMOTER MARKET:
Key Players
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 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
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
*Please Note: The report will be delivered in 4-5 business days upon order confirmation*