According to the latest report by IMARC Group, titled "Animal Growth Promoters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global animal growth promoters market size reached US$ 15.88 Billion in 2022. Animal growth promoters are substances or compounds used in animal husbandry to enhance the growth and development of livestock. They include probiotics, phytogenic, acidifiers, prebiotics, antibiotics, hormones, and nutritional additives, including vitamins, minerals, amino acids, and enzymes. These substances consist of naturally occurring and organic compounds that contribute to enhancing animal growth and optimizing feed utilization. The primary purpose of animal growth promoters is to facilitate growth in farm animals, enhance the distribution of fat and protein, and improve the conversion of feed into muscle. They are also used to increase weight gain, improve feed efficiency, digestion, nutrient absorption, control, and prevent diseases. Additionally, they assist in reducing mortality and risks of developing foodborne illness, preventing diseases and improving growth rates and overall efficiency and product quality.
Global Animal Growth Promoters Market Trends:
The growing prevalence of animal diseases across the globe is driving the global market. Moreover, the rising demand for animal-based products, such as meat, milk, and eggs, on account of the growing demand for animal protein is catalyzing the market. Besides, animal growth promoters, such as probiotics and prebiotics, can improve gut health, enhance immune function, and reduce the incidence of diseases in livestock, which is creating a positive market outlook. Additionally, with the increasing awareness and concerns about animal welfare, there has been a growing emphasis on maintaining the health and well-being of animals, thereby fuelling the demand for growth promoters. Furthermore, the widespread product adoption to reduce the risks of foodborne illness by preventing or treating diseases in livestock that can be transmitted to humans through contaminated meat or other animal products is propelling the market. Apart from this, several leading players are heavily investing in extensive research and development activities in the field of animal nutrition and veterinary science, which is further leading to the development of new and improved growth promoters. Moreover, the increasing utilization of Phyto biotics to improve regular activities and gut health and immunity of animals is impelling the market worldwide. Other factors, including significant technological advancements, inflating disposable income levels of the masses, increasing concerns regarding food safety, and the easy availability and cost-effectiveness of animal growth promoters, are projected to propel the market further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 22.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.
- On the basis of the types, the market has been divided into phytogenic, probiotics, acidifiers, prebiotics, and others. Currently, prebiotics and probiotics represent the largest market segment.
- Based on the animal type, the market has been segmented into livestock, aquaculture, poultry, and porcine. Among these, poultry exhibit a clear dominance in the market.
- On the basis of the regional insights, the market has been categorized into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Alltech, Bluestar Adisseo Company (China National Bluestar (Group) Co. Ltd.), Kemin Industries Inc., Koninklijke DSM N.V., Novus International Inc., Phibro Animal Health Corporation, and Vetoquinol SA.
|Base Year of the Analysis
||Phytogenic, Probiotics, Acidifiers, Prebiotics, Others
|Animal Types Covered
||Livestock, Aquaculture, Poultry, Porcine
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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, etc.
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