Animal Growth Promoters & Performance Enhancers Market: Global Industry Analysis and Forecast (2024-2030)
Animal Growth Promoters & Performance Enhancers Market size was valued at USD 17.54 Bn. in 2023 and the total Animal Growth Promoters & Performance Enhancers Market size is expected to grow at a CAGR of 6.10% from 2024 to 2030, reaching nearly USD 26.55 Bn. by 2030.
Format : PDF | Report ID : SMR_2038
Animal Growth Promoters & Performance Enhancers Market Overview
Animal health products are chemicals and drugs that improve animal growth. Growth promoters stimulate better food digestion and speed up animal development, hence increasing efficiency. The market for animal growth promoters and performance enhancers is primarily driven by the following factors: an increase in the world population has led to an increase in the consumption of animals, a rise in the use of animal-based food products for human beings, increases in demand for natural growth promoters worldwide, outbreaks of animal diseases and ecological change during the forecast period, it is expected that the animal growth promoters and performance enhancers market will not grow due to prohibitions of antibiotics in various countries as well as strict rules regulating their application for increasing the speed of weight gain in livestock.
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Animal Growth Promoters & Performance Enhancers Market Dynamics
Rise in the global demand for naturally produced growth promoters
To reduce the use of antibiotics efforts are being made to introduce several other positive alternatives to minimize the incidence of diseases in farm animals. Organic dairy farms are being established, and efforts are being made for their promotion in countries like the UK, Norway, and Sweden. Animals are being properly weaned so that they are independent of their mothers nutritionally, immunologically, and psychologically.
The growth in demand for organic products is one of the major factors driving adoption of good husbandry practices in the animal farming industry. According to Stellar Report organic food is the fastest-growing sector in the US food industry, and organic food sales are witnessing double digit annual growth in the country. Similarly, demand for organic products is gaining increasing momentum in European countries. Factors such as numerous food scandals and increased interest in health, environmental issues, as well as animal welfare have given rise to the demand for organic food.
Adverse effects: Certain promoters, like β-agonists, induce negative effects in consumers, such as dizziness, headaches, tachycardia and tremors. Under acceptable veterinary practices, many risk assessment studies for natural steroid hormones have found insignificant effects. Therefore, the negative effects on humans are inhibiting the market.
Increasing investment in natural growth promoters
The major objectives of applying growth promoters in farm animals are to elevate feed-to-muscle conversion rates, enhance fat and protein deposition, and stimulate growth. Growth promoters and metabolic modifiers increase production efficiency, deliver a good return on investment, and have a positive impact on the environment; therefore, they significantly contribute to the sustainability of beef cattle production. Market companies are investing more in phytogenics to enhance the performance of naturally acquired growth promoters.
Animal Growth Promoters & Performance Enhancers Market Segment Analysis:
Based on Animal Type: The animal type segment includes poultry, Swine, livestock, Aquaculture and others. The poultry segment dominated the market, holding a share of around 35% in 2023. The business of poultry is performed under the usage of non-antibiotic feed additives mainly during the growing phase. It provides essential maintenance of standards to the poultry industry and aids in the improvement of productions while maintaining food safety and the standard and quality of the industry.
Animal Growth Promoters & Performance Enhancers Market Regional Insights:
The Asia Pacific will account for the largest market share with an increase in revenue. The main reason is the high demand for animal growth promoters and performance enhancers with respect to the requirements of food production quantity. Further, the growing population is increasing food production and is eventually promoting the use of growth promoters and performance enhancers. In terms of global meat consumption, Japan follows China as the second-largest importer, with a substantial rate of both.
For instance, such a surge in meat consumption is likely to increase the demand for animal growth promoters in the domestic livestock industry to enhance efficiency and safety in meat products. Probiotics have become an integral part of the feed industry in the Indian market. The rising consumer awareness toward the growth promoter has led to the inclusion of probiotics in the ruminant feed for the enhanced performance and health of the animals, which is Propelling the growth of the market.
Animal Growth Promoters & Performance Enhancers Market Competitive Landscape
- On February 14 2024, Blacksmith Medicines, Inc., a global biopharmaceutical company, and Zoetis, a global animal health company, announced a collaboration, to discover and develop novel antibiotics for animal health
- In November 2022, Cargill and CARE International signed a Memorandum of Understanding (MoU) in Hanoi for a two-year program called "She Thrives." The "She Thrives" initiative aims to promote sustainable living conditions for rural smallholders, particularly women and members of ethnic minorities in Vietnam's Dak Lak province, by providing farmers and producers with the tools and resources they need to improve their livelihoods in the long term.
Animal Growth Promoters & Performance Enhancers Market Scope
Animal Growth Promoters & Performance Enhancers Market |
|
Market Size in 2023 |
USD 17.54 Bn. |
Market Size in 2030 |
USD 26.55 Bn. |
CAGR (2024-2030) |
6.10 % |
Historic Data |
2018-2022 |
Base Year |
2023 |
Forecast Period |
2024-2030 |
Segments |
By Animals Type
|
By Product
|
|
Regional Scope |
North America- United States, Canada, and Mexico Europe – United Kingdom, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Animal Growth Promoters & Performance Enhancers Market Key Players
- BASF SE Georgia-Pacific (U.S.)
- Chr. Hansen Holding A/S
- Cargill
- DuPont
- Vetoquinol Group
- Bayer AG
- Novus International
- Merck Sharp
- Boehringer Ingelheim International GmbH
- Bupo Animal Health Ltd
- Alltech
- PetIQ Inc
- Novozymes
- Zoetis
- Protexin
- BENEO
- Royal DSM
- XX Ltd
Frequently Asked Questions
Adverse Effects and related diseases are the restrain of Animal Growth Promoters & Performance Enhancers Market.
Animal Growth Promoters & Performance Enhancers Market size was valued at USD 17.54 Billion in 2023 and the total Animal Growth Promoters & Performance Enhancers Market size is expected to grow at a CAGR of 6.10 % from 2024 to 2030, reaching nearly USD 26.55 Billion by 2030.
Segments are covered based on By Animal Type, By Product.
1. Research Methodology
1.1 Research Data
1.1.1. Primary Data
1.1.2. Secondary Data
1.2. Market Size Estimation
1.2.1. Bottom-Up Approach
1.2.2. Top-Down Approach
1.3. Market Breakdown and Data Triangulation
1.4. Research Assumption
2. Animal Growth Promoters & Performance Enhancers Market: Executive Summary
2.1. Market Overview
2.2. Market Size (2023) and Forecast (2024 – 2030) and Y-O-Y%
2.3. Market Size (USD) and Market Share (%) – By Segments and Regions
3. Global Animal Growth Promoters & Performance Enhancers Market: Competitive Landscape
3.1. SMR Competition Matrix
3.2. Key Players Benchmarking
3.2.1. Company Name
3.2.2. Headquarter
3.2.3. Product Segment
3.2.4. End-user Segment
3.2.5. Y-O-Y%
3.2.6. Revenue (2023)
3.2.7. Profit Margin
3.2.8. Market Share
3.2.9. Company Locations
3.3. Market Structure
3.3.1. Market Leaders
3.3.2. Market Followers
3.3.3. Emerging Players
3.4. Consolidation of the Market
3.4.1. Strategic Initiatives and Developments
3.4.2. Mergers and Acquisitions
3.4.3. Collaborations and Partnerships
3.4.4. Product Launches
4. Animal Growth Promoters & Performance Enhancers Market: Dynamics
4.1. Animal Growth Promoters & Performance Enhancers Market Trends by Region
4.1.1. North America
4.1.2. Europe
4.1.3. Asia Pacific
4.1.4. Middle East and Africa
4.1.5. South America
4.2. Animal Growth Promoters & Performance Enhancers Market Drivers
4.3. Animal Growth Promoters & Performance Enhancers Market Restraints
4.4. Animal Growth Promoters & Performance Enhancers Market Opportunities
4.5. Animal Growth Promoters & Performance Enhancers Market Challenges
4.6. PORTER’s Five Forces Analysis
4.6.1. Intensity of the Rivalry
4.6.2. Threat of New Entrants
4.6.3. Bargaining Power of Suppliers
4.6.4. Bargaining Power of Buyers
4.6.5. Threat of Substitutes
4.7. PESTLE Analysis
4.7.1. Political Factors
4.7.2. Economic Factors
4.7.3. Social Factors
4.7.4. Technological Factor
4.7.5. Legal Factors
4.7.6. Environmental Factors
4.8. Technological Roadmap
4.9. Regulatory Landscape
4.9.1. Market Regulation by Region
4.9.1.1. North America
4.9.1.2. Europe
4.9.1.3. Asia Pacific
4.9.1.4. Middle East and Africa
4.9.1.5. South America
4.9.2. Impact of Regulations on Market Dynamics
4.9.3. Government Schemes and Initiatives
5. Animal Growth Promoters & Performance Enhancers Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
5.1. Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
5.1.1. Poultry
5.1.2. Swine
5.1.3. Livestock
5.1.4. Aquaculture
5.1.5. Other Animals
5.2. Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
5.2.1. Hormonal Growth Promoters,
5.2.2. Antibiotic Growth Promoters,
5.2.3. Feed Enzyme Growth Promoters
5.2.4. Organic Acid Growth Promoters
5.3. Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Region (2023-2030)
5.3.1. North America
5.3.2. Europe
5.3.3. Asia Pacific
5.3.4. Middle East and Africa
5.3.5. South America
6. North America Animal Growth Promoters & Performance Enhancers Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
6.1. North America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
6.1.1. Poultry
6.1.2. Swine
6.1.3. Livestock
6.1.4. Aquaculture
6.1.5. Other Animals
6.2. North America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
6.2.1. Hormonal Growth Promoters,
6.2.2. Antibiotic Growth Promoters,
6.2.3. Feed Enzyme Growth Promoters
6.2.4. Organic Acid Growth Promoters
6.3. North America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Country (2023-2030)
6.3.1. United States
6.3.2. Canada
6.3.3. Mexico
7. Europe Animal Growth Promoters & Performance Enhancers Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
7.1. Europe Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
7.2. Europe Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
7.3. Europe Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Country (2023-2030)
7.3.1. United Kingdom
7.3.2. France
7.3.3. Germany
7.3.4. Italy
7.3.5. Spain
7.3.6. Sweden
7.3.7. Austria
7.3.8. Rest of Europe
8. Asia Pacific Animal Growth Promoters & Performance Enhancers Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
8.1. Asia Pacific Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
8.2. Asia Pacific Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
8.3. Asia Pacific Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Country (2023-2030)
8.3.1. China
8.3.2. S Korea
8.3.3. Japan
8.3.4. India
8.3.5. Australia
8.3.6. Indonesia
8.3.7. Malaysia
8.3.8. Vietnam
8.3.9. Taiwan
8.3.10. Rest of Asia Pacific
9. Middle East and Africa Animal Growth Promoters & Performance Enhancers Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
9.1. Middle East and Africa Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
9.2. Middle East and Africa Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
9.3. Middle East and Africa Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Country (2023-2030)
9.3.1. South Africa
9.3.2. GCC
9.3.3. Nigeria
9.3.4. Rest of ME&A
10. South America Animal Growth Promoters & Performance Enhancers Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
10.1. South America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Animals Type (2023-2030)
10.2. South America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Product (2023-2030)
10.3. South America Animal Growth Promoters & Performance Enhancers Market Size and Forecast, by Country (2023-2030)
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Rest Of South America
11. Company Profile: Key Players
11.1. BASF SE Georgia-Pacific (U.S.)
11.1.1. Company Overview
11.1.2. Business Portfolio
11.1.3. Financial Overview
11.1.3.1. Total Revenue
11.1.3.2. Segment Revenue
11.1.3.3. Regional Revenue
11.1.4. SWOT Analysis
11.1.5. Strategic Analysis
11.1.6. Recent Developments
11.2. Chr. Hansen Holding A/S
11.3. Cargill
11.4. DuPont
11.5. Vetoquinol Group
11.6. Bayer AG
11.7. Novus International
11.8. Merck Sharp
11.9. Boehringer Ingelheim International GmbH
11.10. Bupo Animal Health Ltd
11.11. Alltech
11.12. PetIQ Inc
11.13. Novozymes
11.14. Zoetis
11.15. Protexin
11.16. BENEO
11.17. Royal DSM
11.18. XX Ltd
12. Key Findings
13. Analyst Recommendations
13.1. Strategic Recommendations
13.2. Future Outlook