Report Description
Animal Growth Promoter Market Outlook 2031
The Animal Growth Promoter Market was USD 7.27 Billion in 2022 and is likely to reach USD 9.82 Billion by 2031, expanding at a CAGR of 3.4% during 2023 – 2031. Growth of the market is attributed to growing awareness about animal health and changing food habits.
The animal growth promoter is an equivalent combination of one and more micro-elements such as minerals, amino acids, and vitamins. Promoters are used to assist uniform distribution of micro-elements in a major mix. The developers provide promoters to ensure a regular equivalent supply of nutrients to the animals to increase the productivity of the animals and enhance the quality of feeds.
The COVID-19 pandemic affected the demand and supply of the animal growth promoter market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Animal Growth Promoter Market Trends, Drivers, Restraints, and Opportunities
- Increase in consumption of meat is projected to boost the market.
- Increasing demand for chemical residues free products is the major factor fueling the market.
- High cost of growth promoter products is projected to restrict the market expansion during the forecast period.
- Government put ban on use of certain antibiotics is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in animal growth promoter market is projected to offer lucrative opportunities for the market players.
Scope of Animal Growth Promoter Report
The report on the animal growth promoter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Animal Growth Promoter Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Types (Phytogenic, Probiotics, Acidifiers, Prebiotics, and Others), Animal Types (Aquaculture, Poultry, Swine, Ruminant, and Others), End-users (Livestock, Integrators, Farmers, Aquaculture Industry, Home-mixers, and Compound Feed Manufacturers)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East and Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Chr. Hansen A/S; Novus International, Inc.; BASF SE; Merck Animal Health; DuPont (Danisco); Kemin Industries; Alltech; Elanco Animal Health Inc.; Zoetis Inc.; Cargill Animal Health; Bayer Animal Health; Yiduoli; Novozymes A/S; Biomin; and Royal DSM N.V.
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Animal Growth Promoter Market Segment Insights
The probiotics segment is expected to grow at a rapid pace
Based on types, the animal growth promoter market is fragmented into phytogenic, probiotics, acidifiers, prebiotics, and others. The probiotics segment accounts for a key share of the market. Growth of the market is attributed to rising awareness about side effect of feed additives on animal health and increasing income level of customers. However, the acidifiers segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid development in feed additives and compound feed sector and rise in consumption of meat.
The poultry feed segment accounts for a key share of the market
On the basis of animal types, the market is segmented into aquaculture, poultry, swine, ruminant, and others. The poultry feed segment accounts for a key share of the market. Growth of the market is attributed to increasing supply of quality products and increased demand for high-value animal protein. The ruminant feed segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increased industrial livestock production and rising demand for probiotics.
The compound feed manufacturers segment accounts for a significant share of the market
Based on end-users, the animal growth promoter market is divided into livestock, integrators, farmers, aquaculture industry, home-mixers, and compound feed manufacturers. The compound feed manufactures segment accounts for a key share of the market. Growth of the market is attributed to rising government initiatives in production of domestic meat and increasing number of aquatic and poultry farms. However, the livestock segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid development in feed additives & compound feed sector and increasing number of organizations in animal feed industry.
The market in Saudi Arabia is anticipated to hold key market share
On the basis of region, the animal growth promoter market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East and Africa. The market of Oman is estimated to expand at a high CAGR during the forecast period due to rapid economic growth in region and rising awareness about the quality of meat consumed. The market of Saudi Arabia is estimated to hold key market share due to increasing population, technological advancement in feed practices, and growing awareness about animal health.
Segments
The animal growth promoter market has been segmented on the basis of
Types
- Phytogenic
- Probiotics
- Acidifiers
- Prebiotics
- Others
Animal Types
- Aquaculture
- Poultry
- Swine
- Ruminant
- Others
End-users
- Livestock
- Integrators
- Farmers
- Aquaculture Industry
- Home-mixers
- Compound Feed Manufacturers
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East and Africa
Key Players
- Chr. Hansen A/S; Novus International, Inc.
- BASF SE
- Merck Animal Health
- DuPont (Danisco)
- Kemin Industries
- Alltech
- Elanco Animal Health Inc.
- Zoetis Inc.
- Cargill Animal Health
- Bayer Animal Health
- Yiduoli
- Novozymes A/S
- Biomin
- Royal DSM N.V.
Competitive Landscape
Key players competing in the animal growth promoter market include Chr. Hansen A/S; Novus International, Inc.; BASF SE; Merck Animal Health; DuPont (Danisco); Kemin Industries; Alltech; Elanco Animal Health Inc.; Zoetis Inc.; Cargill Animal Health; Bayer Animal Health; Yiduoli; Novozymes A/S; Biomin; and Royal DSM N.V.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
Table Of Content
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Animal Growth Promoter Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Animal Growth Promoter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Animal Growth Promoter Market - Supply Chain
4.5. Global Animal Growth Promoter Market Forecast
4.5.1. Animal Growth Promoter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Animal Growth Promoter Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Animal Growth Promoter Market Absolute $ Opportunity
5. Global Animal Growth Promoter Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Animal Growth Promoter Market Size and Volume Forecast by Types
5.3.1. Phytogenic
5.3.2.
Probiotics
5.3.3.
Acidifiers
5.3.4.
Prebiotics
5.3.5.
Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Animal Growth Promoter Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Animal Growth Promoter Market Size and Volume Forecast by End Users
6.3.1. Livestock
6.3.2.
Integrators
6.3.3.
Farmers
6.3.4.
Aquaculture Industry
6.3.5.
Home-mixers
6.3.6.
Compound Feed Manufacturers
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Animal Growth Promoter Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Animal Growth Promoter Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Animal Growth Promoter Demand Share Forecast, 2019-2026
8. North America Animal Growth Promoter Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Animal Growth Promoter Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Animal Growth Promoter Market Size and Volume Forecast by Types
8.4.1. Phytogenic
8.4.2.
Probiotics
8.4.3.
Acidifiers
8.4.4.
Prebiotics
8.4.5.
Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Animal Growth Promoter Market Size and Volume Forecast by End Users
8.7.1. Livestock
8.7.2.
Integrators
8.7.3.
Farmers
8.7.4.
Aquaculture Industry
8.7.5.
Home-mixers
8.7.6.
Compound Feed Manufacturers
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Animal Growth Promoter Demand Share Forecast, 2019-2026
9. Latin America Animal Growth Promoter Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Animal Growth Promoter Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Animal Growth Promoter Market Size and Volume Forecast by Types
9.4.1. Phytogenic
9.4.2.
Probiotics
9.4.3.
Acidifiers
9.4.4.
Prebiotics
9.4.5.
Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Animal Growth Promoter Market Size and Volume Forecast by End Users
9.7.1. Livestock
9.7.2.
Integrators
9.7.3.
Farmers
9.7.4.
Aquaculture Industry
9.7.5.
Home-mixers
9.7.6.
Compound Feed Manufacturers
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Animal Growth Promoter Demand Share Forecast, 2019-2026
10. Europe Animal Growth Promoter Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Animal Growth Promoter Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Animal Growth Promoter Market Size and Volume Forecast by Types
10.4.1. Phytogenic
10.4.2.
Probiotics
10.4.3.
Acidifiers
10.4.4.
Prebiotics
10.4.5.
Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Animal Growth Promoter Market Size and Volume Forecast by End Users
10.7.1. Livestock
10.7.2.
Integrators
10.7.3.
Farmers
10.7.4.
Aquaculture Industry
10.7.5.
Home-mixers
10.7.6.
Compound Feed Manufacturers
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Animal Growth Promoter Demand Share Forecast, 2019-2026
11. Asia Pacific Animal Growth Promoter Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Animal Growth Promoter Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Animal Growth Promoter Market Size and Volume Forecast by Types
11.4.1. Phytogenic
11.4.2.
Probiotics
11.4.3.
Acidifiers
11.4.4.
Prebiotics
11.4.5.
Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Animal Growth Promoter Market Size and Volume Forecast by End Users
11.7.1. Livestock
11.7.2.
Integrators
11.7.3.
Farmers
11.7.4.
Aquaculture Industry
11.7.5.
Home-mixers
11.7.6.
Compound Feed Manufacturers
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Animal Growth Promoter Demand Share Forecast, 2019-2026
12. Middle East & Africa Animal Growth Promoter Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Animal Growth Promoter Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Animal Growth Promoter Market Size and Volume Forecast by Types
12.4.1. Phytogenic
12.4.2.
Probiotics
12.4.3.
Acidifiers
12.4.4.
Prebiotics
12.4.5.
Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Animal Growth Promoter Market Size and Volume Forecast by End Users
12.7.1. Livestock
12.7.2.
Integrators
12.7.3.
Farmers
12.7.4.
Aquaculture Industry
12.7.5.
Home-mixers
12.7.6.
Compound Feed Manufacturers
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Animal Growth Promoter Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Animal Growth Promoter Market: Market Share Analysis
13.2. Animal Growth Promoter Distributors and Customers
13.3. Animal Growth Promoter Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Chr. Hansen A/S; Novus International, Inc.
13.4.2.
BASF SE
13.4.3.
Merck Animal Health
13.4.4.
DuPont (Danisco)
13.4.5.
Kemin Industries
13.4.6.
Alltech
13.4.7.
Elanco Animal Health Inc.