Animal Antibiotics and Antimicrobials : Global Market Intelligence ( 2023-2030 )

REPORT OBJECTIVES

The report "Animal Antibiotics and Antimicrobials : Global Market Intelligence ( 2023-2030 ) " provides market intelligence on the different market segments, based on Type of Product, Mode of Delivery, Region, Company etc. Market size and forecast (2020-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY

In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents - selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE

Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES

The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT

The Animal Antibiotics and Antimicrobials market was valued at $4,421.7 Million in 2020, and is projected to reach $5,969.2 Million by 2030 growing at a CAGR of 3.50% from 2021 to 2030.

Tetracyclines segment is expected to be the highest contributor to this market, with $2,212.0 Million in 2020, and is anticipated to reach $2,943.9 Million by 2030, registering a CAGR of 3.34%.

Macrolides segment is anticipated to reach $524.8 Million by 2030 with the highest CAGR of 5.03%.

Tetracyclines and Penicillins segments collectively expected to account for about 69.2% share of the Animal Antibiotics and Antimicrobials market in 2020, with the former constituting around 50.0% share.

Macrolides and Aminoglycosides segments are expected to witness significant growth rates at a CAGR of 5.03% and 4.82% respectively, during the forecast period.

Presently, share of these two segments is estimated to be around 13.1% in the overall Animal Antibiotics and Antimicrobials market in 2020, and is anticipated to reach 14.9% by 2030.

The global animal antibiotics and antimicrobials market is being primarily driven by the increasing demand for animal protein products, such as meat, dairy, and eggs, due to the growing global population and dietary preferences.

This rising demand necessitates the use of antibiotics and antimicrobials in animal farming to maintain livestock health and productivity.

Additionally, the need for effective disease prevention and control measures in the livestock industry is further propelling market growth.

On the other hand, opportunities in this market are arising from the growing consumer awareness and concerns regarding antibiotic resistance and animal welfare.

As a result, there is a shift towards the development and adoption of alternative solutions, including probiotics, vaccines, and phytogenic additives, creating a space for innovation and sustainable practices within the industry.

This dynamic landscape presents both challenges and avenues for growth, making it imperative for stakeholders to adapt to evolving market trends and regulations..