DUBLIN, December 20, 2021–(BUSINESS WIRE)–The "Animal Growth Promoter Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)" report has been added to ResearchAndMarkets.com's offering.
The Animal Growth Promoter Market is estimated to register a CAGR of 5.3% during the forecast period.
Elanco Animal Health Incorporated
Guangdong VTR Bio-Tech Co. Ltd
Dupont De Nemours Inc.
Lotus Minechem Resources Pvt. Ltd
Novus International, Inc.
Key Market Trends
Rise in Demand for Meat Boosting The Market
The availability and use of growth promoters in livestock are essential for upholding animal health and productivity, thereby contributing to consumer health and food security. The demand for high-value meat and meat products is rising rapidly, giving a boost to the overall market for animal growth promoters. The rise in meat production has had specific and long-term changes in production systems. These changes are directly linked to the rise of the growth promoter markets. These changes are more pronounced in developing regions.
While considering a business-as-usual (BAU) scenario, the total meat and fish consumption in Asia-Pacific is projected to rise by 73%, by 2050, according to a report published by Asia Research & Engagement (ARE) and sponsored by ADM Capital. However, the Food and Agricultural Organization's (FAO) report on "Mapping Supply and Demand for Animal Produce to 2030" estimates growth in some regions (such as South Asia) at more than 300%. Thus, the aforementioned factors drive the market growth and is anticipated to grow during the forecast period.
Asia-Pacific – The Fastest Growing Market
Asia-Pacific is the fastest growing market in the animal growth promoters industry, globally. Owing to the improved income levels, growing concerns for quality and environmental impact of meat in the developing countries, there is increase in meat consumption in India, China, Malaysia, Indonesia, and Australia and is anticipated to grow during the forecast period.
The growth promoters market in Asia Pacific is further driven by the rapid growth of intensive livestock productions due to the shortage of land and an abundance of labor. China is the largest pork consumer in the region and is the leading pork consuming country in the world which is the main driving factor for meat production in the country. China's meat consumption is double the amount consumed in the United States, owing to its increasing population. This is a major factor motivating the growth of the animal growth promoter market in China.
Probiotics have become an integral part of the feed industry in the Indian market. From the last few years, the rising consumer awareness toward the growth promoter has resulted in the inclusion of probiotics in the ruminant feed for improving their performance and health, which is augmenting the growth of the market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.2 Animal Type
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/td4irc
View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005497/en/
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