Globally the animal growth promoters and performance enhancers market are growing at CAGR of ~6.2% during the forecast period of 2020-2026.
There are two major factors are driving the market such as increasing research and development practices to develop antibiotics & hormones and non-antibiotic growth enhancers, and rise in climate change and animal epidemics.
The animal growth promoters and performance enhancers are type of chemicals and drugs which enhance the growth of animals. Majorly these enhancers help to digest food more effectively and enable animals to grow faster which improves the productivity of the animals. In addition to this these chemicals and drugs provide protection against various types of microbial diseases among animals.
The animal growth promoters and performance enhancers market is growing rapidly due to increasing focus on poultry, livestock and agriculture sector across the world. Globally these drugs are used as growth supplements for the animals' weight increase. These supplements also increase the productivity of the animals by increasing the production of milk ruminants.
The global animal growth promoters and performance enhancers market is driven by growing consumption of meat across the world and increasing disposable income of the people. In addition to this the growing population across the world also fuel the demand for food from animal sources.
In the animal type segment, the poultry segment accounted largest market share in animal growth promoters and performance enhancers market due to increasing demand for meat and egg, and advanced diet plans in poultry farming.
Further, based on the type of chemical/drug segment the non-antibiotic segment accounted for the largest share in the animal growth promoters and performance enhancers market due to its economic benefits, wide range of substances, environmental sustainability and increasing regulations on antibiotics and hormones.
Moreover, animal growth promoters and performance enhancers market segmented by four regions including North America, Europe, APAC, and RoW. Further the regional analysis includes country level analysis for animal growth promoters and performance enhancers.
Asia Pacific is one of the major contributors in the market due to high population as well as a large number of animal product companies in this region. North America is accounted second largest share in the market due to increasing awareness about animal growth and performance enhancers and increase in livestock population.
Globally these animal growth promoters and performance enhancers plays an important role in the agricultural sector due increasing income from the livestock and poultry farming. Which increase the demand for animal growth promoters and performance enhancers. However, the stringent government rules and regulations in some regions for animal growth promoters and performance enhancers hinders the demand for animal growth promoters and performance enhancers.
Lack of awareness among end-users about animal growth promoters & performance enhancers is the major challenges for the market. However, the increasing investment in research and development activities for the development of natural growth promoters & performance enhancers give new opportunities for the market players in the animal growth promoters and performance enhancers market to solidify their presence.
Key Topics Covered:
1. Executive Summary
2. Industry Outlook 2.1. Industry Overview 2.2. Industry Trends
3. Market Snapshot 3.1. Market Definition 3.2. Market Outlook 3.3. PEST Analysis 3.4. Porter Five Forces 3.5. Related Markets
9. Vendor Profiles 9.1. Elanco Animal Health Inc 9.1.1. Overview 9.1.2. Product Offerings 9.1.3. Geographic Revenue 9.1.4. Business Units 9.1.5. Developments 9.1.6. SWOT Analysis 9.1.7. Business Strategy 9.2. Royal DSM N.V 9.3. Cargill, Inc 9.4. Merck & Co., Inc 9.5. Alltech, Inc 9.6. Vetoquinol 9.7. Bupo Animal Health 9.8. Archer-Daniels-Midland Company 9.9. Chr. Hansen 9.10. Novus International, Inc
10. Companies to Watch 10.1. Erber AG 10.1.1. Overview 10.1.2. Market 10.1.3. Business Strategy 10.2. Kemin Industries 10.3. Associated British Foods PLC 10.4. Nutreco, Erber AG 10.5. BASF SE 10.6. Phibro Animal Health Corporation 10.7. Evonik Industries AG 10.8. Bluestar Adisseo Company 10.9. Land O'lakes, Inc 10.10. Lallemand Inc.