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Animal Growth Promoters And Performance Enhancers Market Size, Share, Industry Trends and Forecast to 2030

Animal Growth Promoters And Performance Enhancers Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Animal Growth Promoters And Performance Enhancers Market Size & CAGR in 2021

The global animal growth promoters and performance enhancers market is anticipated to have a compound annual growth rate (CAGR) of 4.5% from 2021 to 2026. As a result, the market is projected to reach a value of USD 12.5 billion by the end of 2026.

COVID-19 Impact on the Animal Growth Promoters And Performance Enhancers Market

The COVID-19 pandemic has had a significant impact on the animal growth promoters and performance enhancers market. The outbreak of the virus in late 2019 led to disruptions in the global supply chain, affecting the production and distribution of these products. This resulted in a temporary decline in market growth due to restrictions on movement and trade.

However, with the gradual easing of restrictions and the implementation of safety measures, the market has shown resilience and is expected to recover steadily. The increased focus on animal health and the need for enhanced performance in livestock farming are driving the demand for growth promoters and performance enhancers.

Animal Growth Promoters And Performance Enhancers Dynamics

The animal growth promoters and performance enhancers market are influenced by various factors, including increasing meat consumption, rising demand for quality animal products, and the focus on improving livestock productivity. Additionally, advancements in research and development, technological innovations in farming practices, and the growing awareness of animal welfare are driving market growth.

Moreover, stringent regulations on the use of antibiotics in animal feed, consumer preferences for organic and natural products, and the adoption of sustainable farming practices are shaping the market dynamics. Companies in the industry are investing in product development, strategic partnerships, and mergers and acquisitions to expand their market presence and cater to evolving consumer needs.

Segments and Related Analysis

By Product Type:

The animal growth promoters and performance enhancers market can be segmented into antibiotics, probiotics, prebiotics, enzymes, organic acids, and others. Antibiotics held the largest market share in 2021 due to their widespread use in livestock farming for growth promotion and disease prevention.

By Livestock:

The market is segmented into poultry, swine, cattle, aquaculture, and others. Poultry accounted for the largest share in 2021, driven by the high consumption of poultry products worldwide and the need to improve feed efficiency and growth rates in poultry farming.

By Region Analysis

North America

North America dominated the animal growth promoters and performance enhancers market in 2021, owing to the presence of key players, technological advancements in farming practices, and the high consumption of meat and dairy products in the region.

Europe

Europe is expected to witness significant growth in the market due to strict regulations on antibiotic use in livestock, increasing demand for organic and sustainable farming practices, and the focus on animal welfare standards in the region.

Asia Pacific

The Asia Pacific region holds immense growth potential in the animal growth promoters and performance enhancers market, driven by the rising population, urbanization, and changing dietary preferences. Increasing investments in the agriculture sector and the adoption of modern farming techniques are further fueling market growth.

Key Market Players and Competitive Landscape

Some of the key players in the animal growth promoters and performance enhancers market include Cargill Inc., Zoetis Inc., Nutreco N.V., Elanco Animal Health, and Alltech Inc. These companies are focusing on product innovation, strategic collaborations, and geographic expansion to gain a competitive edge in the market.

Recent Happenings in the Animal Growth Promoters And Performance Enhancers Market

- In March 2021, Cargill Inc. launched a new range of performance enhancers for poultry farming, designed to improve feed efficiency and growth rates in chickens.

- In October 2021, Zoetis Inc. announced the acquisition of an animal health company specializing in probiotics and enzymes for livestock, expanding its product portfolio in the market.

- In January 2022, Nutreco N.V. introduced a new line of organic acids for swine farming, aimed at enhancing digestive health and nutrient absorption in pigs.

Frequently Asked Questions (FAQ):