Animal Growth Promoters and Performance Enhancers Market Analysis

Animal Growth Promoters and Performance Enhancers Market Analysis

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Based on product, the market is segmented as non-antibiotic promoters and antibiotic growth Promoters. The non-antibiotic promoters segment held a majority market value of USD 10.7 billion in 2022 because of their economic benefits, wide range of products with applications in different production animals, sustainability of ecosystem, and increasing regulations on usage of antibiotics and hormones.
 

The non-antibiotic promoters segment further divided into probiotic and prebiotic growth promoters, organic acid growth promoters, phytogenic growth promoters, feed enzyme growth promoters, hormonal growth promoters, and others. Probiotic & prebiotic growth promoters segment accounted for the largest market share of animal growth promoters and performance enhancers market in 2022. This is mainly due to their safety, natural performance-enhancing properties, and high nutritional values. Also, it positively alters the gut microbiota, reduce pathogen shedding and disease symptoms, increases gut immunity, and improve disease resistance and health.

Based on animal type, the market is segmented as poultry, swine, livestock, aquatic animals, and other animals. The poultry segment held a dominant market share of around 41.5% in 2022 and is expected to grow at a significant pace during the analysis period. This is because the increasing demand for poultry meat and eggs worldwide and new dietary design techniques introduced in poultry contributing to the development of alternative growth promotion strategies.

Animal growth promoters and performance enhancers market was dominated by the North America region with majority of business share and a revenue of USD 5.6 billion in 2022. The large share of this market was due to the implementation of cutting-edge animal husbandry techniques and the rising demand for premium meat and dairy products. Furthermore, the presence of significant competitors in this region, including Cargill, Zoetis, and Elanco, is anticipated to fuel market expansion. For instance, in 2020 as per the report published by the food and agriculture organization of united state (FAO), the U.S. is the world’s largest poultry meat producer, with 17% of global output, followed by China and Brazil. Such factor is expected to proliferate the market growth.