Animal Growth Promoters and Performance Enhancers Market Size, Share & Trends Analysis By Product, By Type, By Application, By disease indication By, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Animal Growth Promoters and Performance Enhancers Market is projected to be worth USD 26.1 billion by 2030

According to SPER Market Research, the Animal Growth Promoters and Performance Enhancers Market is estimated to reach USD 26.1 billion by 2030 with a CAGR of 6.1%. The drugs and chemicals used for the enhancement of productivity, that helps in the easy digestion of foods and faster growth are called the animal growth promoters and performance enhancers. Increasing the demand for natural growth promoters, growing animal epidemics, climate change, livestock-based products, and animal consumption; these are the key factors for the expansion of this market.

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

People with confirmed infections limit contact with animals, while handling pets or animals should take precautions, because animals and humans occasionally share diseases. Key players in the market have adopted several methods to deal with this turbulence. A negative blow on market augmentation is due to the decline in the veterinary manufacturing facility, manufactured goods unavailability and held back supply chains.

Scope of the report:

Market size available for years

2019-2030

Base year considered

2021

Forecast period

2022-2030

Segments covered

By Product, By Application, By Type, By Disease Indication, By Region

Geographies covered

North America, Europe, Asia Pacific, Latin America , Middle East, Africa

Companies Covered

Alltech Corporation, Archer-Daniels-Midland, Company (ADM), Associated British Foods plc, BASF SE, Biomin Holding GmbH, Bluestar Adisseo Company, Boehringer Ingelheim Group, Bupo Animal Health Pty Ltd., Cargill, Incorporated, Chr. Hansen, Elanco Animal Health, Incorporated, Erber AG, Evonik Industries AG, Guangdong VTR Bio-Tech Co., Ltd., Kemin Industries, Inc, Lallemand Inc., Land O'Lakes, Inc., Merck & Co., Inc, Novozymes A/S, Novus International, Inc., Nutreco N.V., Phibro Animal Health, Corporation, Royal DSM N.V., Vetoquinol S.A., Zoetis Inc.

Drivers: increase in the demand for naturally produced growth promoters:

Alternative positive method to reduce use of antibiotics, the rising demand for organic products, breeding animals for robustness and health, good weaning practices, high-welfare animal farming; these are the keys for the growth of natural promoters.

Challenges: rising threat of disease transmission to and from agricultural animals:

Increase in disease transmission is projected to create a challenge to this market expansion.

Opportunities: Focus on growing environmental sustainability:

Environmental friendly animal growth promoters are likely to offer massive growth opportunities in this market.

Global Animal Growth Promoters and Performance Enhancers Market, by Type:

Based on the Type, Animal Growth Promoters and Performance Enhancers Market segmented as; Antibiotic growth promoters and performance enhancers, Non-antibiotic growth promoters and performance enhancers.

Global Animal Growth Promoters and Performance Enhancers Market, by Animal Type:

Based on the Animal Type, Animal Growth Promoters and Performance Enhancers Market segmented as; Aquaculture, Livestock, Poultry, Swine, Other Animals.

Global Animal Growth Promoters and Performance Enhancers Market, by Region:

The Asia Pacific region owns the biggest share of the market; this is because of to the giant population generating superior domestic meat demand, animal products industry, relatively undisturbed regulatory scenario, and government efforts to promote animal producers.