Animal Growth Promoters and Performance Enhancers Market
Market Analysis: The global animal growth promoters and performance enhancers market forecast will be $21.82 billion by 2026, increasing from $12.8 billion in 2018 at a healthy CAGR of 6.64%. North America market share is growing at a CAGR of 4.5% by generating revenue of $15.72 billion by 2026. Asia-Pacific regional growth is expecting $11.62 billion by 2026. Animal growth promoters and performance enhancers refers to the chemicals or drugs which help animals in growing rapidly by digesting their food more efficiently, getting utmost benefit out of it and enabling the animals to grow into strong and healthy adults. These chemicals also secure the animal from several types of microbial diseases. Access to Full Report Summary: Market Drivers: Suring demand and consumption of high-quality meat products is a significant factor driving the growth Rapid increase in meat consumption and meat products across the world and surging demand for protein-rich foods are projected to drive revenue growth of the market. Rising global population and increasing disposable income has resulted in major surge in demand for food from animal sources. Significant lifestyle changes and rising inclination towards protein-rich diets has also fosters demand for frozen meat and processed meat products and this trend is anticipated to continue going ahead. This in turn has majorly escalated the demand for animal growth promoters and performance enhancers and is projected to propel the revenue growth of the market over the forecast period. Market Restraints: Implementation of strict norms and regulations in few countries about the application of animal growth promoters and performance enhancers to enhance overall efficiency of livestock is projected to confine the market growth to a certain extent. Request for a sample report: The Global Animal Growth Promoters and Performance Enhancers Market Market has been segmented as below: By Type Antibiotic Growth Promoters Non-antibiotic Growth Promoters By Product Poultry Swine Livestock Aquaculture Other Animals By Region Europe North America Asia Pacific Rest of The World By Company Merck and Co. Inc. Cargill Inc. Royal DSM N. V. Vetoquinol Bupo Animal Health Elanco Animal Health Inc. CHR Hansen Novus International Inc. Associated British Foods (ABF) plc Alltech Inc. ERBER AG Archer-Daniels-Midland Company Phibro Animal Health Corporation Kemin Industries