Global Animal Growth Promoters Market Opportunities and Forecast 2023-2030

Animal Growth Promoters Market Overview

Animal growth promoters enhancers are the supplements fed to different sorts of animals that help to enhance the functioning of their vital organs and thus enhance their performance. Animal growth promoters help to boost the load of animals and multiply their productivity. Animal growth promoters and probiotics are helping to spice up animal’s stamina and health thus is often helpful to their adultness.
 
Increasing awareness about the benefits of animal growth promoters will multiply their demand within the longer term. Increasing meat consumption across the globe is another factor fostering the expansion of the animal growth promoters market. Owing to Changing Lifestyle of populaces can increase the demand for frozen meat and frozen meat products thus rise and this successively has induced growth within the demand for animal growth promoters.
 
However, the government in some countries imposed strict rules and regulations on the usage of animal growth promoters thus hamper the scope of growth for this market. Owing to High costs of animal feed products, feed additives, growth promoters, or performance enhancers will hamper the market rate of growth.
 
Covid-19 Impact on Animal Growth Promoters Market:

A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, safety, supply chain, training, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in beverage industry is facing a devastating effect of pandemic. 13% of the craft beer sector around the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused shut down of many small to medium food processing companies around the world.
 
Animal Growth Promoters Market Segment Overview

On the basis of product, the animal growth promoters market is segmented into Antibiotics, Prebiotics and Probiotics, Feed Enzymes, Others. However, Prebiotics and probiotics, feed enzymes segments share a large part of this market because of the economic benefits they are highly used in substance with the application for various animal productions, environmental stability, and an increasing number of regulations on antibiotics.

Based on the Application market segmented into Livestock, Aquaculture, Poultry, Other. Among this poultry has shared a large number of markets. Huge demand for eggs, frozen chickens can increase the growth rate of the market.

Market Analysis, Insights and Forecast – By Type
·       Antibiotic
·       Prebiotics and Probiotics
·       Feed Enzymes
·       Others

Market Analysis, Insights and Forecast – By Application
·       Livestock
·       Aquaculture
·       Poultry
·       Other
 
Animal Growth Promoters Market Regional Overview

Region-wise, in terms of regions, Asia-Pacific dominates the animal growth promoters market and can continue to dominate during the forecast period. This is often attributable to the large and ever rising livestock animal population coupled with the rising awareness about their health and safety. Rising personal disposable income including rising demand for meat products also will foster the market growth.

Animal Growth Promoters Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Animal Growth Promoters Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Animal Growth Promoters are highlighted below.

·        In February 2021, the Korean intellectual property Office issue a patent to the Oil-Dri Corporation of America for its proprietary mineral-based technology of two natural feed additives, Varium for poultry and NeoPrime, for swine. The technology of those two feed additives can help global producers meet rapidly rising consumer demand for high-quality animal protein, which is destitute of any traces of antibiotics.

Animal Growth Promoters Market, Key Players

·       Cargill Inc.
·       Royal DSM N.V.
·       Elanco Animal Health Inc.
·       Merck & Co., Inc.
·       Alltech Inc.
·       Archer-Daniels-Midland Company (ADM)
·       Vetoquinol
·       Bupo Animal Health
·       Chr. Hansen
·       Novus International, Inc.
·       Associated British Foods PLC
·       Erber AG
·       Phibro Animal Health Corporation
·       Kemin Industries
·       Nutreco