Animal Growth Promoters & Performance Enhancers Market Expected to Grow at CAGR 5.2% During 2018 to 2023

“\”Animal Growth Promoters & Performance Enhancers Market\””
Global Animal Growth Promoters & Performance Enhancers Market Research Report: Information – Type (Antibiotics, Hormones, Probiotics & Prebiotics, Organic Acids and Phytogenics), Livestock (Poultry, Swine, Ruminants and Aquatic) and Region – Forecast till 2023

Market Overview:

Animal growth promoters & performance enhancers are additives used to improve the quality of animal nutrition as well as support the overall performance, and growth & development of livestock. Growth promoters & performance enhancers comprise of prebiotics, probiotics, organic acids, and other essential compounds.

Awareness towards livestock health and enhanced health support for animals has stimulated the growth of animal growth promoters & performance enhancers market in this region. These additives are mixed with feed to improve the feed quality, animal health and reduce livestock diseases. Additionally, increased awareness about growth promoters & performance enhancers has improved the market share, which is considered to be the significant reason for the increasing growth of the market during the review period. Major key players are investing in R&D to bring up innovation in the product lines.

The North American region is leading the animal growth promoters & performance enhancers market and is expected to have a substantial growth over the forecast period. North America is projected to show a significant growth in the animal growth promoters & performance enhancers market over the forecast period. The U.S. and Canada are leading this market and are expected to be the dominating players over the review period as well. Increasing demand for livestock additives such as growth promoters and performance enhancers from the feed industry is considered to be the key driving factors in this region.

Furthermore, stringent regulations on the use of antibiotics in animals as a growth promoter in the North American region are likely to boost the growth of the other phytogenics growth promoters during the review period. North American animal growth promoters & performance enhancers market is estimated to grow at a CAGR of 5.6% during the forecast period.

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Major Key Players:

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major animal growth promoters & performance enhancers players. It further includes product portfolios and developments of leading players, which includes

  • Biomin Holding GmbH (Austria)
  • Koninklijke DSM N.V. (the Netherlands)
  • Elanco US, Inc. (U.S.)
  • Chr. Hansen Holding A/S (Denmark)
  • Alltech, Inc. (U.S.)
  • Merck Animal Health (U.S.)
  • Cargill Inc. (U.S.)
  • Zoetis Inc. (U.S.)
  • Boehringer Ingelheim Ltd. (U.K) and
  • Bayer Animal Health GmbH (Germany)

Key Findings:

The demand for animal growth promoters & performance enhancers is high from poultry and livestock holders

Jan 2016, Adisseo and Novozymes, two global leaders in the animal nutrition and feed additive industry, have launched probiotic for poultry, on the U.S. market as well as in a number of countries in the Middle East and South East Asia.

Asia Pacific region is experiencing a higher growth rate in the global animal growth promoters & performance enhancers market

Industry Segments:

The global animal growth promoters & performance enhancers market is segmented into type and livestock.

On the basis of the type, it is segmented into antibiotics, hormones, probiotics & prebiotics, organic acids, phytogenics, and others. Among all, the antibiotics segment is dominating the market followed by the phytogenics segment owing to its higher use in the poultry animals for high yield, and protection from diseases.

On the basis of the livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the swine segment is projected to witness steady growth over the forecast period owing to increasing consumption of pork in the European countries.

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Regional Analysis:

The global animal growth promoters & performance enhancers market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the animal growth promoters & performance enhancers market followed by North America. In the Asia Pacific region, China is the major consumer of meat and meat products, this is driving the growth of animal growth promoters & performance enhancers market in this region. Furthermore, increasing consumption of poultry and meat products and rapidly growing population in developing countries of Asia Pacific is giving a push to the growth of the animal growth promoters & performance enhancers market.

Moreover, rising demand for growth promoting & performance enhancing additives for animals in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the animal growth promoters & performance enhancers market during the forecast period.

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