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.
New York, April 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Animal Growth Promoters And Performance Enhancers Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06064482/?utm_source=GNW
The global animal growth promoters and performance enhancers market is expected to grow from $12.41 billion in 2020 to $13.43 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.28 billion in 2025 at a CAGR of 8%.
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 animal growth promoters and performance enhancers market covered in this report is segmented by type into antibiotic growth promoters, non-antibiotic growth promoters and by animal type into poultry, swine, livestock, aquaculture, other animals.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
In 2017, the FDA announced a new regulation in the US, which 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.
In June 2020, Elanco acquired Bayer Animal Health for $7.6 billion. This acquisition is expected to help Elanco to expand their product profile expand their reach for medicines for pets and livestock. Bayer Animal Health is a division of Bayer HealthCare.
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 from 1988 to 2018 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 by 2050.
This is expected to drive 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. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06064482/?utm_source=GNW
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