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Animal Growth Promoters and Performance Enhancers Market Trends

Report ID: GMI5893
Published Date: May 2023
Report Format: PDF

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Animal Growth Promoters and Performance Enhancers Market Trends

Growing apprehension regarding animal epidemics and awareness concerning animal health are touted to positively on the global market. Rising awareness about the benefits of animal growth promoters and performance enhancers will multiply their demand in the future. Rising meat consumption across the globe is another factor fostering the growth of the animal growth promoters and performance enhancers industry. With the changing lifestyle, the demand for frozen meat and frozen meat products has risen and this in turn has induced growth in the demand for animal growth promoters and performance enhancers.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Animal growth promoters and performance enhancers industry was valued at over USD 13.5 billion in 2022 and is estimated to reach more than USD 24 billion by the end of 2032. The livestock and poultry industry uses these products to improve meat production through increased feed conversion, growth rate promotion, and disease prevention.

The poultry segment held a dominant market share of around 41.5% in 2022 and is expected to grow at a significant pace through 2032, because of the increasing demand for poultry meat and eggs worldwide and the development of alternative growth promotion strategies.

North America animal growth promoters and performance enhancers market was worth over USD 5.5 billion in 2022 and will grow at fast pace through 2032, due to the implementation of cutting-edge animal husbandry techniques and the rising demand for premium meat and dairy products.

Elanco Animal Health Incorporated, Merck Animal Health, Zoetis Inc., Bioniche Animal Health, Bupo Animal Health, DSM, Bayer Animal Health, Biomin Holding Gmbh, Boehringer Ingelheim, and Cargill Inc.