Animal Growth Promoters & Performance Enhancers ​​​​​​​Market Highlights

Animal Growth Promoters & Performance Enhancers Market, valued at USD 11.9 Billion in 2022, is expected to exhibit substantial growth, projecting an increase to USD 23.35 Billion by 2032, with a compound annual growth rate (CAGR) of 7.78% during the forecast period (2023 - 2032). This growth is fueled by the escalating demand for sustainable and efficient livestock production, coupled with the increasing need for high-quality animal products.

Animal growth promoters & performance enhancers encompass additives like antibiotics, hormones, probiotics, prebiotics, organic acids, and phytogenics. These additives play a crucial role in enhancing feed functionality, thereby promoting healthy growth and development in animals. The market for animal growth promoters & performance enhancers is experiencing remarkable expansion due to its widespread use in the feed industry. Moreover, the growing awareness among livestock holders regarding the health of their animals is a significant factor propelling the global market for these additives.

The global animal growth promoters & performance enhancers market is anticipated to witness significant growth, driven by increasing health awareness in the livestock sector. Advancements in product development and technological improvements are key contributors to the market's expansion during the forecast period. Additionally, the surge in meat and meat product consumption further supports market growth. Market players are responding to these opportunities by expanding their service offerings, thereby increasing the adoption of animal growth promoters & performance enhancers as additives in the global market.

Click Here to Get Sample Premium Report :  https://www.marketresearchfuture.com/sample_request/5361

Furthermore, the market's growth is supported by increased emphasis on digestive health, overall growth, development, and performance in animals. However, challenges such as the high risk posed by increasing raw material prices are recognized as major obstacles to the market's progression.

In terms of segmentation, the animal growth promoters & performance enhancers market is categorized based on type and livestock. Types include antibiotics, hormones, probiotics & prebiotics, organic acids, phytogenics, and others, with antibiotics dominating the market. Livestock segmentation comprises poultry, swine, ruminants, aquatic, and others, with poultry being the dominant segment.

The competitive landscape features major key players in the animal growth promoters & performance enhancers market, including Alltech, Inc., Merck Animal Health, Cargill Inc., Zoetis Inc., Biomin Holding GmbH, Koninklijke DSM N.V., Elanco US, Inc., Hansen Holding A/S, Boehringer Ingelheim Ltd., and Bayer Animal Health GmbH.

In regional analysis, the Asia Pacific region leads the animal growth promoters & performance enhancers market, followed by North America, driven by rising populations and increased consumption of poultry and meat products. The U.S. dominates the North American market, with increased demand for poultry products contributing to the market's growth.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

To stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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

Sales: +1 628 258 0071(US)   +44 2035 002 764(UK)

Website:  https://www.wantstats.com

Email: Sales@marketresearchfuture.com