(MENAFN- PR Newswire) DUBLIN, Sept. 19, 2023 /PRNewswire/ -- The "Animal Growth Promoters and Performance Enhancers Market by Type, Animal, By Geography Global Opportunity Analysis and Industry Forecast up to 2026" report has been added to
ResearchAndMarkets.com's offering.
The global Animal Growth Promoters and Performance Enhancers market is set to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 6.2% during the period of 2020-2026.
This growth can be attributed to the surging research and development activities aimed at creating antibiotics, hormones, and non-antibiotic growth enhancers, coupled with the increasing impact of climate change and animal epidemics.
The market is driven by a growing consumption of meat worldwide, driven by increasing disposable income and a rising global population that demands animal-sourced food. Poultry takes the lead among animal types, contributing to the largest market share due to surging demand for meat and eggs, alongside advances in poultry farming techniques.
In terms of regions, Asia Pacific is a major contributor due to its high population and numerous animal product companies. North America secures the second-largest market share because of growing awareness regarding animal growth and performance enhancers, along with an increasing livestock population.
Despite the promising growth, challenges remain, notably a lack of awareness among end-users about animal growth promoters and performance enhancers. However, the market is poised to benefit from increasing investments in research and development efforts to create natural growth promoters and performance enhancers, opening new opportunities for market players to solidify their presence.
This report provides a comprehensive understanding of the Animal Growth Promoters and Performance Enhancers market, highlighting key trends, market dynamics, and the evolving needs of end-users. It offers qualitative and quantitative analyses to enhance user experience, including SWOT analysis, portfolio analysis, and capability analysis of leading players.
For research organizations involved in animal growth promoters and performance enhancers, this report offers valuable insights to support drug discovery and development activities. Furthermore, it delivers quantitative analyses to present factual market insights across four major regions.
Key Market Segmentation :
Animal Type :
Poultry Swine Livestock Aquatic animals Other animals
Type of Drug/Chemicals : Antibiotics Non-Antibiotics: Prebiotics & Probiotics Phytogenics Feed Enzymes Hormones
Region : North America Europe APAC RoW
Market Leaders :
Key players in the Animal Growth Promoters and Performance Enhancers market include:
Elanco Animal Health Inc Royal DSM N.V Cargill, Inc Merck & Co., Inc Alltech, Inc Vetoquinol Bupo Animal Health Archer-Daniels-Midland Company (ADM) Chr. Hansen Novus International, Inc Erber AG Kemin Industries Associated British Foods PLC Nutreco Erber AG BASF SE Phibro Animal Health Corporation Evonik Industries AG Bluestar Adisseo Company Land O'lakes, Inc. Lallemand Inc.
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