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The animal growth promoters and performance enhancers market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

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The Animal Growth Promoters And Performance Enhancers Market Size In 2022 And Forecast

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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global animal growth promoters and performance enhancers market size is expected to grow to $17.72 billion in 2026 at a 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.

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The Growing Demand For Meat Is Driving The Growth Of The Animal Growth Promoters And Performance Enhancers Market

According to a study by FAO in 2019, the production of meat has doubled in the last 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.

Competitive Landscape And The Regional Analysis Of The Animal Growth Promoters And Performance Enhancers Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the animal growth promoters and performance enhancers market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Animal Growth Promoters And Performance Enhancers Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the animal growth promoters and performance enhancers market.

Increasing Investments In Phytogenics – A Key Trend In 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 utilised 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 can also 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.

Animal Growth Promoters And Performance Enhancers Market Segmentation By The Business Research Company

1) By Type: Antibiotic Growth Promoters, Non-Antibiotic Growth Promoters

2) By Animal Type: Poultry, Swine, Livestock, Aquaculture, Other Animals

3) By Nature of Chemicals: Microbial Products, Prebiotics And Probiotics, Yeast Products, Enzymes/Herbs, Oils And Spices

Here Are Some Reports Related To The Animal Growth Promoters And Performance Enhancers Market –

Cattle Feeds Global Market Report 2022

Nutritional Feed Additives Global Market Report 2022

Feed Processing Equipment Global Market Report 2022

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