What Has Been the Progress and Growth of the Animal Growth Promoters And Performance Enhancers Market in Recent Years?
The animal growth promoters and performance enhancers market has seen considerable growth due to a variety of factors.
• The market size for animal growth promoters and performance enhancers has seen robust growth in recent times. The market is projected to expand from $15.17 billion in 2024 to $16.19 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
The expansion during the historical period can be traced back to the surge in meat consumption, efficiency in feed conversion, and the use of antibiotics in feed.
What Can Be Expected from the Animal Growth Promoters And Performance Enhancers Market By 2029?
The animal growth promoters and performance enhancers market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for animal growth promoters and performance enhancers is projected to witness a significant surge. It will expand to a whopping $20.85 billion by 2029, growing at a compounded annual growth rate (CAGR) of 6.5%.
This anticipated growth during the forecast period can be credited to factors such as decreased use of antibiotics, advances in sustainable agriculture, and custom nutrition and nutritional enhancers. Major ongoing trends expected to influence the forecast period include, but are not limited to, naturally available and phytogenic additives, reduced usage of antibiotics, hormone and steroid-free meat production, and the use of nutritional additives.
Which Key Drivers Are Propelling The Animal Growth Promoters And Performance Enhancers Market's Growth?
The escalating demand for meat is a crucial element propelling the market of animal growth promoters and performance enhancers. These growth promoters function by encouraging weight gain and fat build-up in animals, contributing to increased meat yield and more costly livestock. As a principal protein provider, meat is essential for numerous individuals worldwide. Research from FAO states that meat production has seen a twofold increase over the preceding three decades. It is anticipated that meat production and consumption will persist in expanding. By the year 2050, the global quantity of meat consumed is expected to hit anywhere between 460 million and 570 million tons, which is likely to fuel the market for animal growth promoters and performance enhancers further.
How Is The Animal Growth Promoters And Performance Enhancers Market segmented?
The animal growth promoters and performance enhancers market covered in this report is segmented –
1) By Type: Antibiotic Growth Promoters, Non-Antibiotic Growth Promoters
2) By Animal Type: Poultry, Swine, Livestock, Aquaculture, Other Animals
3) By Nature of Chemicals: Microbial Products, Prebiotics And Probiotics, Yeast Products, Enzymes/Herbs, Oils And Spices
Subsegments:
1) By Antibiotic Growth Promoters: Tetracyclines, Penicillins, Macrolides, Aminoglycosides
2) By Non-Antibiotic Growth Promoters: Probiotics, Prebiotics, Enzymes, Phytogenics, Hormones
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Who Are the Key Players In The Animal Growth Promoters And Performance Enhancers Market?
Major companies operating in the animal growth promoters and performance enhancers market include:
• Merck and Co. Inc.
• Cargill Inc.
• Royal DSM N.V.
• Vetoquinol S.A.
• Bupo Animal Health
• Elanco Animal Health Inc.
• Alltech Biotechnology Pvt. Ltd.
• Bayer HealthCare Animal Health Inc.
• Zoetis Inc.
• Bioniche Life Sciences Inc.
• Danisco A/S
• Du Pont De Nemours and Company
• C.H. Boehringer Sohn AG & Co. KG
• Associated British Foods plc
• Biomin Holding GmbH
• Chr. Hansen A/S
• Novus International Inc.
• Intervet Inc.
• Hipra India Pvt. Ltd.
• Kepro Technologies Private Limited
• Pancosma S.A.
• Provimi Holding B.V.
• Trouw Nutrition International B.V.
• Zagro Asia Limited
• Biostadt India Limited
• ECO Animal Health Group plc
• Heska Corporation
• IDEXX Laboratories Inc.
• Kyoritsu Seiyaku Corporation
• Neogen Corporation
What Is The Most Dominant Region In The Animal Growth Promoters And Performance Enhancers Market?
North America was the largest region in the animal growth promoters and performance enhancers market in 2023. Asia-Pacific was the second-largest region in the animal growth promoters and performance enhancers market. The regions covered in the animal growth promoters and performance enhancers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
