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The animal growth promoters market share is expected to increase by USD 3.96 billion from 2021 to 2026, at a CAGR of 5.6%.
This animal growth promoters market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers animal growth promoters market segmentation by animal type (poultry, livestock, swine, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The animal growth promoters market report also offers information on several market vendors, including Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Bluestar Adisseo Co., Bupo Animal Health Pty Ltd., C. H. Boehringer Sohn AG and Co. KG, Cargill Inc., Chr Hansen Holding AS, Elanco Animal Health Inc., Evonik Industries AG, Kemin Industries Inc., Koninklijke DSM NV, Merck KGaA, Novozymes AS, Novus International Inc., Nutreco NV, Phibro Animal Health Corp., Vetoquinol SA, and Zoetis Inc. among others.
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The rise in global meat consumption is notably driving the animal growth promoters market growth, although factors such as regulations related to antibiotics may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the animal growth promoters industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Animal Growth Promoters Market Driver
One of the key factors driving growth in the animal growth promoters market is the rise in global meat consumption. Over the past decade, people have become more conscious about protein intake in their daily diet. This has led to an increase in global meat consumption. The global per capita consumption of meat has grown steadily in the last ten years. The rise in global meat consumption can be attributed to the increase in health benefits associated with its consumption. APAC is the largest producer of various types of meat, such as duck meat and others. China and India are a few of the major meat-producing countries globally. The rise in the global population also drives the global meat demand for meat products. The steady increase in meat consumption increases the demand for growth promoters among various animals such as poultry and others. Thus, the increasing demand for meat will drive growth in the global animal growth promoters market.
Key Animal Growth Promoters Market Trend
The increasing demand for natural growth promoters is an animal growth promoters market trend that is expected to have a positive impact in the coming years. Antimicrobial compounds are commonly included in poultry feed to promote growth and control diseases. The European Union (EU) banned feed-grade antibiotic growth promoters owing to their cross-resistance and the risk they posed to food safety and public health in the region. Due to this, animal feed producers are implementing natural growth promoters instead of antibiotics. Natural animal growth promoters include organic acids, symbiotic, probiotics, prebiotics, phytogenic, feed enzymes, and immune stimulants. The advantages of natural animal growth promoters over antibiotics are that they do not pose any risk of bacterial resistance or undesired residues in animal products such as meat, milk, and eggs. Increased growth performance, improved feed efficiency, and rapid immune system maturation are some of the benefits of adding natural animal growth promoters to animal feed. Also, vendors are launching new phytogenic growth promoters (natural animal growth promoters), which will propel the market in focus growth.
Key Animal Growth Promoters Market Challenge
The regulations related to antibiotics will be a major challenge for the animal growth promoters market during the forecast period. Antibiotics are used in animal feed to promote the growth of animals. However, they are subjected to regulatory policies to prevent residues in the soil and enhance public health. Antibiotics must be approved by the US Food and Drug Administration (US FDA) before they can be used. In certain regions, farmers are overusing antibiotics to improve the quality of livestock. The World Health Organization (WHO) recommends that farmers and the food industry should stop using antibiotics regularly to promote growth and prevent disease in healthy animals. Rules and regulations concerning animal growth promoters are becoming increasingly stringent. Such regulatory initiatives pose challenges for existing animal growth promoters and increase the cost of developing new animal growth promoters. This, in turn, will negatively impact the growth of the market in focus.
This animal growth promoters market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global animal growth promoters market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the animal growth promoters market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the animal growth promoters market encompasses successful business strategies deployed by the key vendors. The animal growth promoters market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The animal growth promoters market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the animal growth promoters market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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61% of the market’s growth will originate from APAC during the forecast period. China, Indonesia, and India are the key markets for animal growth promoters in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing demand for poultry and other meat products will facilitate the animal growth promoters market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 hampered the growth of the regional animal growth promoters market in 2020. Several countries in APAC, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were either under a partial or complete lockdown due to the pandemic. However, the advent of vaccination drives, and the decline in COVID-19 cases, have led to normalcy in the region since 2021. Additionally, the market is expected to gain momentum during the forecast period due to the increased consumption of meat products owing to an increase in protein intake. This would bolster the regional demand for meat and, consequently, for animal growth promoters in the region during the forecast period.
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The animal growth promoters market share growth in the poultry segment will be significant during the forecast period. The global animal growth promoters market is expected to register significant growth during the forecast period due to the worldwide rise in poultry consumption. Factors such as changing lifestyles, the rise in disposable income, and the increasing population globally are expected to positively impact the demand for poultry products such as eggs and meats.
This report provides an accurate prediction of the contribution of all the segments to the growth of the animal growth promoters market size and actionable market insights on the post-COVID-19 impact on each segment.
Animal Growth Promoters Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.6% |
Market growth 2022-2026 |
$ 3.96 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.26 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 61% |
Key consumer countries |
US, China, India, Indonesia, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Bluestar Adisseo Co., Bupo Animal Health Pty Ltd., C. H. Boehringer Sohn AG and Co. KG, Cargill Inc., Chr Hansen Holding AS, Elanco Animal Health Inc., Evonik Industries AG, Kemin Industries Inc., Koninklijke DSM NV, Merck KGaA, Novozymes AS, Novus International Inc., Nutreco NV, Phibro Animal Health Corp., Vetoquinol SA, and Zoetis Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Animal Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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