PUNE, India, May 4, 2016 /PRNewswire/ --
According to a new market research report Animal Growth Promoters & Performance Enhancers Market- [By Product (Antibiotics, Hormones, Feed Enzymes, Probiotics & Prebiotics, Organic Acids, Phytogenics) & By Animal (Poultry, Porcine, Livestock, Equine, Aquaculture)] - Global Forecast to 2020", published by MarketsandMarkets, This market is expected to reach USD 9.66 Billion by 2020 from USD 7.56 Billion in 2015, at a CAGR of 5%.
Browse 82 market data Tables and 43 Figures spread through 165 Pages and in-depth TOC on "Animal Growth Promoters & Performance Enhancers Market"
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The report analyzes and studies the major market drivers, restraints/challenges, and opportunities
This report studies the global animal growth promoters and performance enhancers market for the forecast period of 2015 to 2020. This market is expected to reach USD 9.66 Billion by 2020 from USD 7.56 Billion in 2015, at a CAGR of 5%. A number of factors such as rising global meat demand, need for non-antibiotic growth promoters, rise in animal epidemic outbreaks, and demand for low-cost meat are driving the growth of this market. However, increasing awareness among consumers regarding the hazards of using antibiotic growth promoters and the ban on the use of antibiotic growth promoters in some European countries such as the U.K., Sweden, and Denmark are likely to hamper the growth of the market.
The global animal growth promoters and performance enhancers market is segmented on the basis of product, animal, and regions.
Based on product, the animal growth promoters and performance enhancers market is categorized into antibiotics, hormonal growth promoters, beta agonist growth promoters, feed enzymes, probiotics and prebiotics, organic acids, phytogenic growth promoters, and others. The antibiotic segment is expected to account for the largest share of the market in 2015. However, the feed enzymes segment is likely to grow at the highest rate during the forecast period.
Based on animal, the market is segmented into poultry, porcine, livestock, equine, aquaculture, and other animals (cats, dogs, rabbits). The poultry segment accounted for the largest share of the market in 2015. Additionally, this segment is likely to grow at the highest rate during the forecast period.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa). In 2015, Asia-Pacific is poised to account for the largest share of the animal growth promoters and performance enhancers market, followed by North America, Europe, and the Rest of the World. The Asia-Pacific market is slated to grow at the highest CAGR and serve as a revenue pocket for companies offering animal growth promoters and performance enhancers.
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Prominent players in the global animal growth promoters and performance enhancers market include Cargill, Inc. (U.S.), Royal DSM N.V. (Netherlands), Zoetis, Inc. (U.S.), AB Vista (U.K.), Alltech, Inc. (U.S.), Elanco Animal Health (U.S.), Bayer Animal Health (Germany), BIOMIN Holding GmbH (Austria), Boehringer Inghelheim (Germany), Bupo Animal Health (South Africa), Chr. Hansen A/S (Denmark), Danisco A/S (Denmark), Merck Animal Health (U.S.), Novus International, Inc. (U.S.), and Vetoquinol (France).
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