Animal Growth Promoters And Performance Enhancers Global Market Report 2022

Major players in the animal growth promoters and performance enhancers market are Merck Animal Health, Cargill, Royal DSM N.V., Vetoquinol S.A., Bupo Animal Health, Elanco Animal Health Inc., Alltech, Bayer Animal Health, Zoetis, and Bioniche Life Sciences.

The global animal growth promoters and performance enhancers market is expected to grow from $12.88 billion in 2021 to $13.73 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The market is expected to grow to $17.72 billion in 2026 at a compound annual growth rate (CAGR) of 6.6%.

The animal growth promoters and performance enhancers market consists of sales of animal growth promoters and performance enhancers by entities (organizations, sole traders, and partnerships) that manufacture animal growth promoters and performance enhancers.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.

The main types of animal growth promoters and performance enhancers are antibiotic growth promoters and non-antibiotic growth promoters.Antibiotic growth promoters refer to the promoters that will enhance the health of the animal and increase productivity.

These include natural chemicals such as microbial products, prebiotics, and probiotics, yeast products, enzymes/herbs, oils, and spices. The different types of animals that use animal growth promoters and performance enhancers include poultry, swine, livestock, aquaculture, and other animals.

North America was the largest region in the animal growth promoters and performance enhancers market in 2021.Asia-Pacific was the second-largest region in the animal growth promoters and performance enhancers market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The growing demand for meat is a significant factor that will drive the market of animal growth promoters and performance enhancers.Animal growth promoters make the animal accumulate fat and weight, occurring in more meat production and more expensive animal.

Meat is a major protein source for many people around the world.According to a study by FAO in 2019, the production of meat has doubled in the 30 years and increased four-fold since the mid-1960s.

The production and consumption of meat are expected to continue to grow.By 2050, global meat consumption is projected to reach between 460 million and 570 million tons.

This is expected to drive the animal growth promoters and performance enhancers market.

Strict rules set by the US and European governments on the use of animal growth promoters and performance enhancers are restricting the animal growth promoter and performance enhancers market.For instance, Zoetis, the largest producer of animal medicines, is banned from selling antibiotics that promote faster growth in animals, in the US and Europe.

US FDA has implemented a regulation that banned the use of antibiotics as feed supplements to help livestock and poultry grow faster. These regulations are expected to negatively impact the growth of the 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. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics.

In June 2020, Elanco acquired Bayer Animal Health for $7.6 billion. This acquisition is expected to help Elanco to expand its product profile expand its reach for medicines for pets and livestock. Bayer Animal Health is a division of Bayer HealthCare.

The countries covered in the animal growth promoters and performance enhancers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.