Global Animal Growth Promoters And Performance Enhancers Market Trends And Strategies

The global animal growth promoters and performance enhancers market is expected to decline from $13.05 billion in 2019 to $12.41 billion in 2020 at a compound annual growth rate (CAGR) of -4.89%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $16.09 billion in 2023 at a CAGR of 9.03%. The growing demand for meat is a significant factor that will drive the market of animal growth promoters and performance enhancers. However, strict rules set by the US and European governments on the use of animal growth promoters and performance enhancers are restricting the market.

Animal growth promoters and performance enhancers help in the safety of animals from various microbial diseases and also help them to develop into strong and healthy adults. Only goods and services traded between entities or sold to end consumers are included.

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The global animal growth promoters and performance enhancers market is further segmented based on type and geography.
By Type: Antibiotic Growth Promoters, Non-Antibiotic Growth Promoters
By Animal Type: Poultry, Swine, Livestock, Aquaculture, Other Animals.
By Geography: The global animal growth promoters and performance enhancers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific animal growth promoters and performance enhancers market accounts for the largest share in the global animal growth promoters and performance enhancers market.

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Trends In The Animal Growth Promoters And Performance Enhancers Market
Companies in the market are increasingly investing in phytogenics for higher efficiency of growth promoters through natural means. Phytogenics, sometimes also referred to as botanicals or phytobiotics, are plant-based feed additives utilized in animal nutrition. They are derived from herbs, spices, and extracts. Phytochemicals can be used in solid, dried, and ground form or as extracts, and also can be classified as essential oils and oleoresins depending on the process used to derive the active ingredients. The use of phytogenics promotes increased feed intake, improved gut function, prevention of diarrhea, and antimicrobial and antioxidative effects in livestock.
Animal Growth Promoters And Performance Enhancers Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides animal growth promoters and performance enhancers market overviews, analyzes and forecasts animal growth promoters and performance enhancers market size and growth for the global animal growth promoters and performance enhancers market, animal growth promoters and performance enhancers market share, animal growth promoters and performance enhancers market players, animal growth promoters and performance enhancers market size, animal growth promoters and performance enhancers market segments and geographies, animal growth promoters and performance enhancers market trends, animal growth promoters and performance enhancers market drivers and animal growth promoters and performance enhancers market restraints, animal growth promoters and performance enhancers market’s leading competitors’ revenues, profiles and market shares. The animal growth promoters and performance enhancers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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