Westford, USA, July 13, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, growth promoters are substances or medications incorporated into animal feeds or administered through injections to enhance feed utilization and promote the growth of farm animals in the animal growth promoters and performance enhancers market. Livestock farmers utilize growth promoters to improve the growth rate of their animals and enhance the overall efficiency and quality of animal products.
Browse in-depth TOC on "Animal Growth Promoters and Performance Enhancers Market"
- Pages - 211
- Tables - 66
- Figures – 75
Animal growth promoters and performance enhancers are substances that are used to support and improve the growth and performance of animals. These substances enhance the efficiency and effectiveness of the animal's digestion process, ultimately leading to healthy and robust the animal growth promoters and performance enhancers market’s growth.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 13.99 Billion |
| 2030 Value Projection | USD 17.79 Billion |
| CAGR | 5.7% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Animal Growth Promoters and Performance Enhancers Market
- Cargill, Inc.
- Zoetis Inc.
- Royal DSM N.V.
- Elanco Animal Health
- Alltech Corporation
- Archer Daniels Midland Company
- Boehringer Ingelheim Animal Health GmbH
- Evonik Industries AG
- Kemin Industries, Inc.
- Phibro Animal Health Corporation
- Novozymes A/S
- BASF SE
- Chr. Hansen Holding A/S
- DuPont de Nemours, Inc.
- Danisco A/S
- Biomin Holding GmbH
- Nutreco N.V.
- Lallemand Animal Nutrition
- Adisseo France SAS
- Biovet JSC
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Non-Antibiotic Promoters Segment is Expected to Grow the Market Due to the Rising Demand for Non-Antibiotic Promoters
The non-antibiotic promoters segment dominated the animal growth promoters and performance enhancers market, accounting for a majority share in market value, which amounted to USD 10.7 billion. This significant market position can be attributed to various factors driving the demand for non-antibiotic promoters in animal production.
The markets in the North America emerged as the dominant player in the animal growth promoters and performance enhancers market, capturing a significant share of the business and generating revenue of USD 5.6 billion in 2022. This strong market position can be attributed to several key factors.
Poultry Segment is Expected to Dominate the Market Due to the Increasing Demand for Poultry Meat
The poultry segment emerged as the dominant market share holder, accounting for approximately 41.5% of the animal growth promoters and performance enhancers market. This segment is anticipated to witness significant growth throughout the forecast period. The increasing global demand for poultry meat and eggs is an essential factor driving the development of this segment. Poultry products, such as chicken and eggs, are widely consumed due to their affordability, nutritional value, and versatility in various cuisines.
Regional markets in the Asia Pacific is projected to witness substantial revenue expansion throughout the forecast period. This growth can be attributed to several key factors. There has been a significant rise in meat consumption in countries across the region. As disposable incomes increase and dietary preferences evolve, there is a growing demand for meat products, including poultry, pork, and beef in the animal growth promoters and performance enhancers market.
A comprehensive analysis of the major players in the animal growth promoters and performance enhancers market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Animal Growth Promoters and Performance Enhancers Market
- Recently, Cargill Inc., a global food and agriculture company, introduced Nutrena Naturewise, a product designed to support the well-being of birds, strengthen egg quality, and maintain new coops. This launch aimed to provide a comprehensive solution for poultry farmers by offering nutritionally balanced feed that promotes their flocks' overall health and performance. Nutrena Naturewise is formulated with ingredients that contribute to the vitality of birds, enhance the quality of eggs, and help maintain a clean and hygienic coop environment.
- Kemin Industries, Inc., a leading provider of specialty ingredients for animal nutrition and health, launched Paradigmox Green in 2021. This antioxidant solution explicitly targets the organic livestock production industry in the EMENA region, encompassing Europe, the Middle East, and North Africa.
Key Questions Answered in Animal Growth Promoters and Performance Enhancers Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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