Animal Growth Promoters and Performance Enhancers Market Key Players Review and Forecast to 2024

Market Overview

Animal growth promoters & performance enhancers are additives used to improve the quality of animal nutrition as well as support the overall performance, and growth & development of livestock. Growth promoters & performance enhancers comprise of prebiotics, probiotics, organic acids, and other essential compounds.

Furthermore, stringent regulations on the use of antibiotics in animals as a growth promoter in the North American region are likely to boost the growth of the other phytogenics growth promoters during the review period. North American animal growth promoters & performance enhancers market is estimated to grow at a CAGR of 5.6% during the forecast period.

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Major Key Players

• Biomin Holding GmbH (Austria)
• Koninklijke DSM N.V. (the Netherlands)
• Elanco US, Inc. (U.S.)
• Hansen Holding A/S (Denmark)
• Alltech, Inc. (U.S.)
• Merck Animal Health (U.S.)
• Cargill Inc. (U.S.)
• Zoetis Inc. (U.S.)
• Boehringer Ingelheim Ltd. (U.K) and
• Bayer Animal Health GmbH (Germany)

Key Findings

The demand for animal growth promoters & performance enhancers is high from poultry and livestock holders

Asia Pacific region is experiencing a higher growth rate in the global animal growth promoters & performance enhancers market

Industry Segments

The global Animal Growth Promoters and Performance Enhancers Market is segmented into type and livestock.

On the basis of the livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the swine segment is projected to witness steady growth over the forecast period owing to increasing consumption of pork in the European countries.

Regional Analysis

The global animal growth promoters & performance enhancers market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the animal growth promoters & performance enhancers market followed by North America. In the Asia Pacific region, China is the major consumer of meat and meat products, this is driving the growth of animal growth promoters & performance enhancers market in this region. Furthermore, increasing consumption of poultry and meat products and rapidly growing population in developing countries of Asia Pacific is giving a push to the growth of the animal growth promoters & performance enhancers market.

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