Animal growth promoters and performance enhancers are the product providers which aid the animal live-stocks by supporting them in digesting their food more effectively and efficiently by the using natural, organic and chemicals specially designed for the purpose to develop into strong and healthy adults. These products also safeguard the animals from several bacterial and microbial diseases and also offer immunity and resistance from diseases and disorders. Animal growth enhancers aids the animals obtain more fat and weight which helps in the more amount of meat production and as a result helps in the more high prices selling of the animals. The reduction in the cost of production, coupled with more and increasing demand for more volume of meat and fat will boost the growth of the animal growth promoters & performance enhancers market. On the other hand, strict regulations limiting the usage of antibiotics and hormones for growth promotion in animals which is happening to restrict the animal growth promoters and performance enhancers market growth.
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Key Driving Factors: Constant increase in the global demand for meat
The rising demand for meat is a major aspect which will propel the market of animal growth promoters and performance enhancers. Animal growth promoters make the animal obtain more fat and weight, happening in more meat production and more expensive animal. Meat is a key source of protein for number of people around the world. As per the study by FAO the production of meat has increased two times more in the 30 years and increased four-fold since the mid-1960s. The production and consumption of meat are projected to continue to grow. By 2050, global meat consumption is anticipated to reach between 460 million and 570 million tons by 2050. This is estimated to primarily drive the growth of animal growth promoters and performance enhancers market.
This report also includes the key competitors of the animal growth promoters and performance enhancers market Elanco Animal Health Inc., Merck and Co. Inc., Royal DSM N. V., Cargill Inc., Vetoquinol, Bupo Animal Health, Phibro Animal Health Corporation, CHR Hansen, Associated British Foods (ABF) plc, Alltech Inc., ERBER AG, Novus International Inc., Archer-Daniels-Midland Company and Kemin Industries.
Opportunities: Growing investments by competitors in phytogenics
Competitors in the animal growth promoters and performance enhancers market are growingly investing in phytogenics for greater efficiency of growth promoters by natural means. Phytogenics are sometimes also known as botanicals or phytobiotics, are plant-based feed supplements utilized in animal nutrition. They are extracted from herbs, spices, and extracts. Phytochemicals can be used in form of solid, dried, and ground as extracts, and also can be categorized as essential oils and oleoresins based on the process used to obtain the active ingredients. With the use of phytogenics helps in promoting increased feed intake, better function of gut, prevention of diarrhea and antimicrobial and antioxidative impacts in livestock. Companies such as Cargill, Delacon, and BIOMIN have invested in phytogenics.
By Type of Drug/Chemicals:
The type of drug or chemicals in the animal growth promoters market is categorized into Antibiotics, Non-Antibiotics, Prebiotics & Probiotics, Phytogenics, Feed Enzymes and Hormones. The non-antibiotic segment is considered to have the largest share of the animal growth promoters and performance enhancers market. This is ascribed to their economic advantages, the wide range of substances with applications in various production animals, environmental sustainability and the rising number of restrictions on antibiotics and hormones.
By Animal Type
By Type of Drug/Chemicals
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Published Date : April-2021