Animal Growth Promoters And Performance Enhancers Market 2021 with Impact of COVID-19 Pandemic Analysis & Future Growth Analysis Report by Market Research Future
Market
Insights
Animal
Performance Enhancers have become increasingly popular for the
improvement of animal nutrition, growth development of livestock, and support
of overall performance. As such, growth promoters
and performance enhancers include prebiotics, probiotics, organic acids, and
other essential compounds that may be needed for better nutrition. The global
pervasiveness of such products for ensuring healthy livestock among others is
anticipated to drive the growth of the global animal growth promoters and
performance enhancers market during the forecast period of 2017 to 2023. Market
Research Future reveals several key projections regarding the market.
Animal husbandry has become a massive industry
with the rapid growth of the global population which has led to increased
demand for meat, meat products, and other
animal products. As a result, the demand
for growth promoters and performance enhancers has grown considerably. The
massive global demand for meat and meat products has led farmers to pay closer
attention to animal health. Moreover, in the age of information, awareness
regarding livestock health is widespread to include consumers. As a result,
there is a high demand for natural growth promoters and performance enhancers
to support the health of the animals and
increase yield. Another key factor promoting market growth is the growth of the food & beverage industry
which places a great demand for animal products in an effort to meet demands
with innovation. Frozen food options are highly
popular, and the high demand for frozen
meat and meat products is driving the demand for meat which in turn is expected
to lead to growth for the Animal Growth Promoters And Performance Enhancers
Market.
Use of antibiotics as growth
promoters have been popular, however, due to the nature of
emerging microbes with resistance to antibiotics has led to the banning of
antibiotics for anything other than veterinary purposes. This move has been
made in several developed economies and is aimed at combating the threat to human and animal life caused by antimicrobial resistance. The ban on
antibiotics as growth promoters has ultimately led farmers to seek and
implement the use of natural growth
promoters which is expected to lead to the development
of various options during the forecast period.
Latest
Industry News
After the discovery that most countries use
vital antibiotics for animals as growth promoters, the U.N. has openly
condemned the misuse of antibiotics by farmers. Recently banned by the E.U and
the U.S due to the side effect of antibiotics creating antibiotic-resistant microbes (superbugs), superbugs have been
identified as a great threat to public health, thus leading to the U.N
encouraging other countries to follow the U.S & the E.U.
Archer Daniels Midland has announced that it
has reached an all-cash agreement of GBP
185 Mn to acquire Probiotics
International Ltd, which is a producer of probiotics for human, pet and production animals consumption.
Market
Segmentation
The global
Animal Growth Promoters And Performance Enhancers Market
is segmented on the basis of type, livestock, and region. By type, the market
is segmented into antibiotics, hormones, probiotics, & prebiotics, organic
acids, phytogenics, and others. Among
these , the antibiotics segment is the largest due to its extensive use in
poultry and other meat producing animals for high yield and protection against
diseases.
By livestock, the market is segmented into
poultry, swine, ruminants, aquatic, and others. Presently, the poultry segment
dominates the market due to the globally increased consumption of poultry meat.
The swine segment, however, is expected
to experience rapid growth due to the increasing consumption of pork products in
developed economies, particularly Europe.
By region, the global market is segmented to
include North America, Europe, Asia-Pacific, and the Rest of the World.
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Globally,
the Animal Growth Promoters And Performance Enhancers Market is led by the
Asia-Pacific due to the high consumption of meat and animal products in the
region. China is a major consumer of meat and meat products and has one of the largest populations in the world thud
driving demand and growth for the market. The region, which is high in
population, is also increasing consumption due to rapid urbanization and the subsequent increase in disposable income. The
budding food & beverage industry which is growing at a rapid pace in the
region is expected to produce market opportunities for the region.
Key Players
Prominent
players in the global Animal
Growth Promoters And Performance Enhancers Market have been analyzed in the report and include Zoetis Inc, Biomin Holding GmbH,
Alltech Inc., Merck Animal Health, Cargill Inc., Chr. Hansen Holding A/S,
Boehringer Ingelheim Ltd, and Bayer Animal Health among others.
NOTE: Our
Team of Researchers are Studying Covid19 and its Impact on Various Industry
Verticals and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future
(part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
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