Animal Growth Promoters Market Size, Trends, Growth, and Forecast by 2028
According to IMARC Group’s latest research report, titled “Animal Growth Promoters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering animal growth promoters market share, size, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Animal Growth Promoters Market?
The global animal growth promoters market size reached US$ 15.88 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.
What are Animal Growth Promoters?
Animal growth promoters refer to substances that are added to animal feed to improve performance. They usually include phytogenic, probiotics, acidifiers, prebiotics, antibiotics, hormones, and other feed additives. These promoters are composed of organic and natural chemicals, which help in enhancing animal growth and feed efficiency. They are widely utilized in farm animals to improve the distribution of fat and protein and increase the feed-to-muscle conversion rate. Animal growth promoters are also used to facilitate weight gain, provide nutrient absorption, control and prevent diseases, etc. They also aid in minimizing mortality and risk of foodborne illness.
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What are the Growth Prospects and Trends in the Animal Growth Promoters Market?
The widespread adoption of these substances to prevent and treat diseases in livestock while reducing the risk of illness and mortality is primarily driving the animal growth promoters market. Additionally, the increasing usage of frozen meat products, owing to the changing lifestyle and taste preferences among consumers, is further bolstering the market growth. Besides this, the escalating demand for phytobiotics that consist of plant-derived items and are added to animal feed to improve regular activities, gut health, and immunity is acting as another significant growth-inducing factor. Moreover, the growing utilization of these promoters to minimize the risk of foodborne illnesses that can be transmitted to humans via contaminated animal products, including eggs and milk, is positively influencing the global market. Apart from this, the inflating expenditure capacities of individuals are also stimulating the market growth. Furthermore, the easy availability of these substances is anticipated to fuel the animal growth promoters market over the forecasted period.
Who are the key Players Operating in the Industry?
- Alltech
- Bluestar Adisseo Company (China National Bluestar (Group) Co. Ltd.)
- Kemin Industries Inc.
- Koninklijke DSM N.V.
- Novus International Inc.
- Phibro Animal Health Corporation
- Vetoquinol SA
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Types Insights:
- Phytogenic
- Probiotics
- Acidifiers
- Prebiotics
- Others
Animal Type Insights
- Livestock
- Aquaculture
- Poultry
- Porcine
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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