owing to the rising population, urbanization, and increase in the gross domestic product per capita in the developing countries. The use of growth promoters is also being driven by the shortage of resources such as animals, feed, water, and land.
Animal Growth Promoters are used in animal feed to increase the weight of the animals and to promote faster growth. The use of growth promoters results in a direct decrease in the production cost of meat; by decreasing the amount of high cost natural feed. In addition, the use of growth promoters decreases the amount of resources required, which brings down the cost of the animal meat ultimately.
Browse 106 market data tables 21 figures spread through 234 pages and in-depth TOC.
The global animal growth promoters market is categorized into eight broad segments, namely, antibiotics, probiotics and prebiotics, organic acids, phytogenics, â-agonists, hormonal growth promoters, feed enzymes, and others. Based on the animals, the animal growth promoters market comprises of porcine, poultry, livestock equine, aquaculture and others.
The global animal growth promoters market was valued at $6,871.6 million in 2013 and is expected to reach $8,787 million by 2018, growing at a CAGR of 5% from 2013 to 2018. The antibiotic growth promoters commanded the largest share of the global animal growth promoters market in 2013. However, the feed enzymes market is likely to grow at a highest CAGR in the forecast period (2013-2018).
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Countries such as China, India, and the Gulf countries are stimulating the demand of meat due to the incessant rise in population, lifestyle changes, and cultural trends. In addition, continuous research to increase the meat production is driving the growth of this market. Research on feed enzymes, organic acids, and phytogenics is widely being carried out to find a suitable alternative to antibiotics and hormonal treatments as growth promoters and performance enhancers in animals.
North America follows Asia in the use of growth promoters owing to the 2012 drought effects and the FDA support in the use of antibiotic, hormonal and â-agonists growth promoters. The RoW region includes Latin America, Africa, Middle East, and the Pacific countries. These markets are estimated to grow at a steady pace with the rise in demand for cheap meat and lack of regulations regarding the use of growth promoters in the animal feed.
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The key players in the global animal growth promoters market are Bayer Animal Health (Germany), Biomin (Austria), Bioniche Animal Health (Canada), Boehringer Ingelheim (Germany), Cargill Animal Health (U.S.), Merck Animal Health (U.S.), Royal DSM N.V. (Netherlands), Elanco Animal Health (U.S.), Bupo Animal Health (South Africa), and Zoetis, Inc. (U.S.)
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