DUBLIN--(BUSINESS WIRE)--The "Animal Growth Promoters and Performance Enhancers Market by Product Antibiotic and Non-antibiotic (Hormones, Acidifiers, Feed Enzymes, Probioitcs & Prebiotics, Phytogenics), Animal (Poultry, Porcine, Livestock, Aquaculture) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global animal growth promoters and performance enhancers market is projected to reach USD 18.5 billion by 2024 from an estimated USD 13.9 billion in 2019, at a CAGR of 5.9% during the forecast period.
The animal growth promoters and performance enhancers market projected to grow at a CAGR of 5.9% during the forecast period (2019-2024)
The key factors driving the growth of this market is the increasing global meat demand, research into alternatives to antibiotics, and the need to deal with epidemics and environmental factors. However, various countries have stringent regulations in place against antibiotics and particular growth promoters, which has affected their adoption.
By type, the non-antibiotic growth promoters segment is expected to grow at the highest CAGR during the forecast period (2019-2024)
On the basis of type, the market is segmented into antibiotic and non-antibiotic growth promoters. The non-antibiotic growth promoters segment commanded the largest share of the animal growth promoters and performance enhancers market in 2018. This large share of this segment is due to the economic benefits, a wide range of substances (acidifiers, prebiotics & probiotics, feed enzymes, phytogenic, hormones and others growth promoters), numerous applications in various production animals, greater sustainability, and the increasing number of regulations on antibiotics.
By animal type, the poultry segment is expected to dominate the market during the forecast period (2019-2024)
Based on animal type, the market is segmented into poultry, porcine, livestock, aquaculture, and other animals (equine, rabbit, camel, deer, yak, and geese). The poultry segment marked the largest share of the animal growth promoters and performance enhancers market in 2018. The large market share of this segment can be attributed to the increasing demand for poultry meat & eggs, novel diet approaches, and antibiotics phase-outs, resulting in the development of alternatives.
The Europe region to witness the highest growth during the forecast period (2019-2024)
The European market is projected to register the highest growth during the forecast period. Factors such as rising in domestic livestock, poultry, and pork production, and decreasing meat imports owing to the ban of certain growth promoters in Europe are driving the growth for the animal growth promoters and performance enhancers market in Europe. Other factors also include technological advancements in animal production in this region and increasing meat production.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the animal growth promoters and performance enhancers market. The report analyzes the market based on the product, animal type, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the animal growth promoters and performance enhancers market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various animal growth promoters and performance enhancers equipment across regions.
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the animal growth promoters and performance enhancers market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the animal growth promoters and performance enhancers market.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Animal Growth Promoters Market Overview
4.2 Asia Pacific: Animal Performance Enhancers Market, By Type (2018)
4.3 Geographical Snapshot of the Market
5 Market Overview
5.2 Market Dynamics
6 Market, By Type
6.2 Non-Antibiotic Growth Promoters and Performance Enhancers
6.3 Antibiotic Growth Promoters
7 Animal Growth Promoters Market, By Animal Type
7.5 Aquatic Animals
7.6 Other Animals
8 Market, By Region
8.2 Asia Pacific
8.3 North America
8.5 Rest of the World
9 Competitive Landscape
9.2 Market Share Analysis
9.3 Competitive Leadership Mapping (2018)
9.4 Competitive Scenario
10 Company Profiles
10.1 Cargill, Inc.
10.2 Royal DSM N.V.
10.3 Elanco Animal Health Inc.
10.4 Merck & Co., Inc.
10.5 Alltech, Inc.
10.6 Archer-Daniels-Midland Company (ADM)
10.8 Bupo Animal Health
10.9 Chr. Hansen
10.10 Novus International, Inc.
10.11 Associated British Foods PLC
10.12 Erber AG
10.13 Phibro Animal Health Corporation
10.14 Kemin Industries
10.15 Nutreco (A Wholly Owned Subsidiary of SHV Group)
10.16 BASF SE
10.17 Lallemand Inc.
10.18 Bluestar Adisseo Company
10.19 Evonik Industries AG
10.20 Land O'lakes, Inc.
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