According to the new market research report "Animal Growth Promoters and Performance Enhancers Market by Type (Antibiotic and Non-antibiotic (Hormones, Acidifiers, Feed Enzymes, Probiotics & Prebiotics, Phytogenic)), Animal Type (Poultry, Porcine, Livestock, Aquaculture) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 21.4 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 5.7%.
Browse in-depth TOC on "Animal
Growth Promoters and Performance Enhancers Market"
118 – Tables
53 – Figures
245 – Pages
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Animal health products, including growth promoters
and performance enhancers, are types of drugs and chemicals used for animal
growth. These enhancers help to digest food more effectively and enable animals
to grow faster, which, in turn, help to improve productivity. Growth in the
animal growth promoters and performance enhancers market is majorly driven by
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. However, a ban on antibiotics in different
nations and stringent regulations restricting the use of antibiotics and
hormones for growth promotion in animals are expected to restrain the growth of
the animal growth promoters and performance enhancers market during the
forecast period.
By Type, the non-antibiotic growth promoters and
performance enhancers segment is expected to account for the largest share of
the animal growth promoters and performance enhancers market
The non-antibiotic growth promoters and performance
enhancers segment accounted for the largest share of the animal growth
promoters and performance enhancers market in 2020. The large share of this
segment can be attributed to the economic benefits of these products, the wide
range of substances with applications in different production animals,
environmental sustainability, and the increased number of regulations on
antibiotics and hormones.
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On the basis of animal type, poultry segment is
expected to account for the largest share of the animal growth promoters and
performance enhancers market
The poultry segment accounted for the largest share
of the global animal growth promoters and performance enhancers market. The
large market share of this segment can be attributed to the increasing demand
for poultry meat and eggs, rising novel diet approaches, and increasing
antibiotic phase-outs resulting in the development of alternatives.
Asia
Pacific to dominate the animal growth promoters and
performance enhancers market during the forecast period
Asia
Pacific region accounted for the largest market share,
followed by North
America with a share in 2020. The large share of
the Asia Pacific region
can be attributed to the strong animal products industry in this region, huge
population generating greater domestic meat demand, comparatively relaxed
regulatory scenario, and government efforts to encourage animal producers.
Prominent players in the Animal Growth Promoters and
Performance Enhancers Market include are Cargill, Incorporated (US), Royal DSM
N.V. (Netherlands),
Elanco Animal Health Incorporated (US), Boehringer Ingelheim Group (Germany),
Merck & Co., Inc (US), Alltech Corporation (US), Archer-Daniels-Midland Company
(ADM) (US),
Vetoquinol S.A. (France),
Bupo Animal Health Pty Ltd. (South
Africa) and Novus International, Inc. (US).
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(Food producing & Companion) - Global Forecast to 2026
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