Dublin, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The "Animal Growth Promoters and Performance Enhancers Market by Product Antibiotic and Non-antibiotic (Hormones, Acidifiers, Feed Enzymes, Probioitcs & Prebiotics, Phytogenics), Animal (Poultry, Porcine, Livestock, Aquaculture) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global animal growth promoters and performance enhancers market is projected to reach USD 18.5 billion by 2024 from an estimated USD 13.9 billion in 2019, at a CAGR of 5.9% during the forecast period.
The key factors driving the growth of this market is the increasing global meat demand, research into alternatives to antibiotics, and the need to deal with epidemics and environmental factors. However, various countries have stringent regulations in place against antibiotics and particular growth promoters, which has affected their adoption.
Prominent players in the global animal growth promoters and performance enhancers market include are Merck and Co. Inc. (US), Cargill Inc. (US), Royal DSM N. V. (Germany), Bupo Animal Health (SA), Elanco Animal Health Inc. (US), CHR Hansen (UK), Alltech Inc. (US), Phibro Animal Health Corporation (US), Kemin Industries (US), and SHV (Nutreco) (UK).
By type, the non-antibiotic growth promoters segment is expected to grow at the highest CAGR during the forecast period (2019-2024)
On the basis of type, the market is segmented into antibiotic and non-antibiotic growth promoters. The non-antibiotic growth promoters segment commanded the largest share of the animal growth promoters and performance enhancers market in 2018. This large share of this segment is due to the economic benefits, a wide range of substances (acidifiers, prebiotics & probiotics, feed enzymes, phytogenic, hormones and others growth promoters), numerous applications in various production animals, greater sustainability, and the increasing number of regulations on antibiotics.
By animal type, the poultry segment is expected to dominate the market during the forecast period (2019-2024)
Based on animal type, the market is segmented into poultry, porcine, livestock, aquaculture, and other animals (equine, rabbit, camel, deer, yak, and geese). The poultry segment marked the largest share of the animal growth promoters and performance enhancers market in 2018. The large market share of this segment can be attributed to the increasing demand for poultry meat & eggs, novel diet approaches, and antibiotics phase-outs, resulting in the development of alternatives.
The Europe region to witness the highest growth during the forecast period (2019-2024)
The European market is projected to register the highest growth during the forecast period. Factors such as rising in domestic livestock, poultry, and pork production, and decreasing meat imports owing to the ban of certain growth promoters in Europe are driving the growth for the animal growth promoters and performance enhancers market in Europe. Other factors also include technological advancements in animal production in this region and increasing meat production.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Animal Growth Promoters Market Overview
4.2 Asia Pacific: Animal Performance Enhancers Market, By Type (2018)
4.3 Geographical Snapshot of the Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Continuous Growth in the Global Meat Demand
5.2.1.2 Research Into Alternatives to Antibiotics and Hormones and Increasing Demand for Non-Antibiotic Growth Promoters
5.2.1.3 Rise in Animal Epidemics and Climate Changes
5.2.2 Restraints
5.2.2.1 Stringent Regulations Restricting the Use of Antibiotics and Hormones for Growth Promotion in Animals
5.2.3 Opportunities
5.2.3.1 Focus on Increasing Environment Sustainability
5.2.4 Challenges
5.2.4.1 Increasing Global Feed Tonnage and High Feed Costs Leading to the Adoption of Conventional Feeding Systems
6 Market, By Type
6.1 Introduction
6.2 Non-Antibiotic Growth Promoters and Performance Enhancers
6.2.1 Prebiotics & Probiotics
6.2.1.1 Prebiotics & Probiotics Hold the Largest Share of the Market
6.2.2 Acidifiers
6.2.2.1 Regulations on Antibiotics and Wide Applications in Different Production Animals have Driven the Use of Acidifiers
6.2.3 Phytogenics
6.2.3.1 Natural Performance Enhancement and Antioxidative & Disease Defense Properties have Supported the Use of Phytogenics
6.2.4 Feed Enzymes
6.2.4.1 Feed Enzymes Segment is Expected to Benefit Greatly From the Bans of Antibiotics and Hormones
6.2.5 Hormones
6.2.5.1 Human Health Implications and Restricted Usage Due to Regulations Will Hamper the Growth of the Hormones Segment
6.2.6 Other Non-Antibiotic Growth Promoters and Performance Enhancers
6.3 Antibiotic Growth Promoters
6.3.1 Antibiotics to Face A Gradual Decline Due to Unfavorable Regulations and Bans on Their Use
7 Animal Growth Promoters Market, By Animal Type
7.1 Introduction
7.2 Poultry
7.2.1 in 2018, the Poultry Segment Accounted for the Largest Share of the Market
7.3 Swine
7.3.1 Rising Demand for Pork Meat and Increasing Awareness of African Swine Fever (Asf) Outbreaks to Drive the Adoption of Growth Promoters and Performance Enhancers
7.4 Livestock
7.4.1 The Livestock Segment to Register the Highest Growth Rate During the Forecast Period
7.5 Aquatic Animals
7.5.1 Growing Production and Consumption of Seafood to Drive the Demand for Growth Promoters for Aquatic Animals
7.6 Other Animals
8 Market, By Region
8.1 Introduction
8.2 Asia Pacific
8.2.1 China
8.2.1.1 China Dominates the APAC Animal Growth Promoters and Performance Enhancers Market
8.2.2 India
8.2.2.1 Large Livestock Population and Increasing Production and Export Capacities to Drive Market Growth in the Country
8.2.3 Japan
8.2.3.1 Rising Domestic Meat Demand and Government Efforts to Encourage Animal Producers are Driving the Demand for Promoters in Japan
8.2.4 Australia
8.2.4.1 Large Cattle Population and Heavy Meat Exports have Supported the Market in Australia
8.2.5 Rest of Asia Pacific
8.2.5.1 Lack of A Defined Regulatory Scenario has Resulted in the Wide Use of Antibiotic Growth Promoters in the RoAPAC
8.3 North America
8.3.1 Us
8.3.1.1 US Holds the Largest Share of the North American Market
8.3.2 Canada
8.3.2.1 Canada is A Prominent Meat and Aquaculture Producer and Exporter
8.4 Europe
8.4.1 Russia
8.4.1.1 Russia Holds the Largest Share of the European Market
8.4.2 Rest of Europe
8.4.2.1 Technological Advancements and the Strong Trade Industry have Supported the RoE Market
8.5 Rest of the World
8.5.1 Brazil
8.5.1.1 Brazil Dominates the RoW Market for Animal Growth Promoters and Performance Enhancers
8.5.2 Rest of Latin America
8.5.2.1 Strong Demand for Animal Products and Supportive Initiatives have Supported the Market in the RoLA
8.5.3 Middle East
8.5.3.1 Increasing Demand for Chicken and Seafood have Contributed to Market Growth in the Middle East
8.5.4 Africa
8.5.4.1 Reliance on Conventional Livestock Production Practices May Hamper the Market Growth in Africa
9 Competitive Landscape
9.1 Introduction
9.2 Market Share Analysis
9.3 Competitive Leadership Mapping (2018)
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Competitive Scenario
9.4.1 Key Developments in the Animal Growth Promoters and Performance Enhancers Market
9.4.2 Key Product Launches
9.4.3 Key Acquisitions
9.4.4 Key Expansions
10 Company Profiles
10.1 Cargill, Inc.
10.2 Royal DSM N.V.
10.3 Elanco Animal Health Inc.
10.4 Merck & Co. Inc.
10.5 Alltech, Inc.
10.6 Archer-Daniels-Midland Company (ADM)
10.7 Vetoquinol
10.8 Bupo Animal Health
10.9 Chr. Hansen
10.10 Novus International, Inc.
10.11 Associated British Foods PLC
10.12 Erber AG
10.13 Phibro Animal Health Corporation
10.14 Kemin Industries
10.15 Nutreco (A Wholly Owned Subsidiary of SHV Group)
10.16 BASF SE
10.17 Lallemand Inc.
10.18 Bluestar Adisseo Company
10.19 Evonik Industries AG
10.20 Land O'lakes, Inc.
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