The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s animal growth promoters and performance enhancers market report forecasts the animal growth promoters and performance enhancers market size to grow to $18.92 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Animal Growth Promoters And Performance Enhancers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/animal-growth-promoters-and-performance-enhancers-global-market-report

Animal Growth Promoters And Performance Enhancers Market Size Forecast
The global animal growth promoters and performance enhancers market is expected to grow from $13.73 billion in 2022 to $14.65 billion in 2023 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global animal growth promoters and performance enhancers market size is expected to grow to $18.92 billion in 2027 at a CAGR of 6.6%.

North America held the largest animal growth promoters and performance enhancers market share.

Key Animal Growth Promoters And Performance Enhancers Market Driver ­– Growth In Demand For Meat Is A Significant Factor
According to a study by FAO, 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.

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Key Animal Growth Promoters And Performance Enhancers Market Trend – Increasingly Investing In Phytogenics
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. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics.

Animal Growth Promoters And Performance Enhancers Market Segment
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

Animal Growth Promoters And Performance Enhancers Market Major Players and Strategies
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.

In June 2020, Elanco acquired Bayer Animal Health for $7.6 billion. This acquisition is expected to help Elanco expand its product profile and reach for medicines for pets and livestock. Bayer Animal Health is a division of Bayer HealthCare.

The Animal Growth Promoters And Performance Enhancers Global Market Report 2023 covers regional data on animal growth promoters and performance enhancers market size, animal growth promoters and performance enhancers market trends and drivers, opportunities, strategies, and animal growth promoters and performance enhancers market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Animal growth promoters and performance enhancers refer to the substances that are added to feeds as supplements or injections to increase feed utilization and growth in farm animals, as well as veterinary medicinal products that are administered to healthy animals in order to favourably influence the yield, quality, and/or growth of animal products.

View More Reports Related To The Animal Growth Promoters And Performance Enhancers Market –
Animal Medicine Global Market Report 2023
Animal Hospitals And Veterinary Clinics Global Market Report 2023
Animal Antibiotics And Antimicrobials Global Market Report 2023

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