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Reports
The global animal growth promoters & performance enhancers market is projected to rise at a healthy rate from 2021 to 2031 (forecast period). The global market is likely to benefit from increasing meat consumption globally. Moreover, rising population and disposable income levels are expected to boost the demand for protein-rich foods, which is projected to propel the global animal growth promoters & performance enhancers market. Furthermore, lower production costs and improved and faster meat output are expected to drive the global animal growth promoters & performance enhancers market during the forecast period.
In addition, R&D investments in natural growth promoters and performance enhancers are anticipated to provide a plethora of prospects for industry participants.
Key players active in the global animal growth promoters & performance enhancers market are Bayer Animal Health GmbH (Germany), Boehringer Ingelheim International GmbH (Germany), Vétoquinol and Bioniche Life Sciences Inc. (Canada), Elanco Animal Health Incorporated (US), Biomin Holding Gmbh (German), DSM N.V. Merck & Co. Inc. (US), AB Vista Inc. (UK), Cargill Inc (US), Zoetis Inc. (US), The Alltech Groupare (US), Chr. Hansen A/S (Denmark), Bupo Animal Health (South Africa), Danisco A/S (Denmark), and Novus International Inc. (US)
To extend and maintain their worldwide presence, key market players are implementing numerous strategies such as collaborations, technological innovations, investments, acquisitions, and R&D activities.
The global animal growth promoters & performance enhancers market is expected to expand due to factors such as the rising incidence of animal diseases, contributing to the demand for healthier animals. Moreover, adoption of livestock ownership, increasing demand for meat and animal-based products, use of animals in agriculture, and easy affordability and availability of animal growth promoters & performance enhancers are projected to boost the global market.
Furthermore, the rising global meat consumption and disposable income are key factors likely to propel the global animal growth promoters & performance enhancers market. Fast population growth around the world has resulted in an increase in demand for food from an animal source, which is expected to drive the global animal growth promoters & performance enhancers market.
Utilizing such growth promoters and performance enhancers enables farmers to boost their revenue from livestock, which is expected to assist the animal growth promoters & performance enhancers market growth. A rise in the output of products derived from these animals, such as eggs, milk, and wool, is likely to boost the animal growth promoters & performance enhancers market.
The poultry segment is anticipated to witness considerable growth in the global animal growth promoters & performance enhancers market over the forecast period. This is due to the rising demand for eggs, milk, and meat, the implementation of enhanced dietary regimens, and the high production of poultry products.
The animal growth promoters & performance enhancers market in Asia Pacific is expected to grow due to a strong increase in consumption of meat in the region's countries, growing disposable income, and increased demand for food due to the fast-expanding population. Moreover, more relaxed antibiotic rules and increased government initiatives to promote the uptake of performance enhancers and growth promoters are likely to fuel the regional market growth.
The animal growth promoters & performance enhancers market in North American region is likely to grow due to the high consumption of meat. Moreover, the high presence of meat processing industries in the region is expected to assist the growth of the animal growth promoters & performance enhancers market.
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Animal Growth Promoters and Performance Enhancers Market
