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Animal growth promoters and performance enhancers refer to the substances that are utilized or administered in animal nutrition. These products are administered as they improve the utilization of the animal feed that is given to the animals. Thus, animal growth promoters and performance enhancers aid by increasing the availability of nutrition via intestinal absorption. Achieving the increased efficiency of the conversion of feed into food products, without exposure to significant risk is the goal of most of the livestock related industries around the globe.
This can be achieved through animal growth promoters and performance enhancers of increased efficiency and lower harmful ingredients. According to the Food and Agriculture Organization (FAO) of the United Nations, the U.S. had 93.7 million cattle in 2017. This has led to an increased demand for the products owing to the growing animal population and the subsequent increasing demand for animals and animal based-products.
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The global animal growth promoters and performance enhancers market is anticipated to grow owing to a number of factors such as the growing prevalence of animal diseases leading to demand for healthier animals, increasing rates of zoonotic diseases, adoption of livestock ownership, rising demand for meat and animal based products, usage of animals in agriculture, and easy accessibility & affordability of animal growth promoters and performance enhancers.
However, the factors limiting the growth of global animal growth promoters and performance enhancers market are the stringent regulatory scenario, lack of awareness in developing markets and the increase in bacterial resistance owing to the usage of antibacterial growth promoters.
The major companies covered in the global animal growth promoters and performance enhancers market report include Cargill, Incorporated., Alltech., DSM, Zoetis, Elanco, AB Vista, Intervet Inc., Bayer AG, DuPont, Boehringer Ingelheim International GmbH and Vetoquinol S.A.
· Hormonal Growth Promoters
· Antibiotic Growth Promoters
· Feed Enzyme Growth Promoters
· Organic acid Growth Promoters
By Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
As per the current animal growth promoters and performance enhancers market trends, antibiotics in the product segment accounted for a larger share owing to use of antibiotics for prevention of zoonotic diseases thus increasing the growth and performance of the animals. Moreover, feed enzyme is expected to witness a higher CAGR during the forecast period.
Geographically, the global animal growth promoters and performance enhancers market segments include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global animal growth promoters and performance enhancers market owing to several factors such as increasing awareness regarding animal growth and performance enhancers, high livestock animal population, rising demand for animal and animal-based products, growing expenditure on animal health, and a large pool of veterinarians. Asia Pacific is the fastest emerging market owing to large livestock animal pool, increased rates of animal usage in agriculture, increasing awareness of animal welfare, and introduction of government initiatives. However, stringent government regulations in Europe are expected to hamper the market growth during the forecast period. Latin America and Middle East & Africa are nascent markets as they lack awareness for growth promoters and performance enhancers products and lack of improved animal welfare systems in the region.
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