Animal growth promoters and performance enhancers are defined as the chemicals or drugs that help animals in growing faster by digesting their food more effectively, getting maximum benefit out of it and allowing the animals to develop into strong and healthy adults. These chemicals also protect the animal from various types of microbial diseases. Animal growth promoters and performance enhancers market can be differentiated on the basis of different type of animal growth promoters and performance enhancers and on the basis of animal classes. Depending on the nature and use of chemicals, various types of animal growth promoters and performance enhancers are available in the market which are as follows:
- Microbial products
- Prebiotics and Probiotics
- Yeast Products
- Herbs, oils and spices
Microbial products capture the major share of the animal growth promoters and performance enhancers market. These products are used for destroying or inhibiting bacteria by administering a low dose. The use of microbial products for growth promotion has arisen with the strengthening of livestock farming. Infectious agents lessen the yield of farm animals and for controlling these microorganisms, the administration of sub-therapeutic antimicrobial agents and antibiotics is performed. Depending on the animal classes, the animal growth promoters and performance enhancers market has been differentiated into following categories:
Livestock and poultry are the dominating classes of animals which are provided with animal growth promoters and performance enhancers. Increase in the yield of the products such as eggs, wool and milk, which are originated from these animals is the major reason which is driving the animal growth promoters and performance enhancers market among livestock and poultry classes. Additionally, the increasing demand of meat worldwide is the other major factor which will propel the animal growth promoters and performance enhancers market in the future. Animal growth promoters help the animal in gaining weight and fat, which results in more meat production and expensive selling of animal. According to an experiment conducted by Biomin Holding GmbH, company involved in developing animal feed additives and premixes, the piglets which were fed with phytogenetic feed additives comprised of essential oils from anise, citrus, oregano and plant extracts gained 5.2% extra weight compared to the normal growing piglets. The faster growth of the animal coupled with extra meat and fat amount will assist the animal growth promoters and performance enhancers market during the forecast period.
However, the stringent regulations set by the government of the U.S. and Europe against the use of animal growth promoters and performance enhancers is restraining its market. For instance, in 2003, the European Union has banned the use of antibiotic growth promoters which consist of monensin sodium, flavophospholipol, avilamycin and salinomycin sodium in the animal feed. Under the regulation, only the used or processed additives which would be authorized by European Food Safety Authority (EFSA) would only be allowed to be sold in the market. This regulation has resulted decline in the sales of microbial animal growth promoters and performance enhancers in the European countries, hence restraining the market.
Some of the market players in the animal growth promoters and performance enhancers market include Simfa Labs Pvt. Ltd., Bayer AG, Bioniche Life Sciences, Inc., Bupo Animal Health, Zoetis, Inc., Eli Lilly and Company, Merck & Co., Inc. and Cargill, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.