ANIMAL GROWTH PROMOTERS PERFORMANCE ENHANCERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Animal Growth Promoters Performance Enhancers Market Size and Trends

Global animal growth promoters performance enhancers market is estimated to be valued at USD 17.33 Bn in 2024 and is expected to reach USD 25.90 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.

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The animal growth promoters performance enhancers market is expected to witness positive growth over the forecast period. The rising consumption of meat and meat products is surging the demand for animal growth promoters to enhance the productivity of livestock. Various growth promoters such as antibiotics, prebiotics, probiotics, and symbiotics are gaining traction. Moreover, ban on antibiotic growth promoters in various countries such as Nambia has shifted the focus on alternatives like prebiotics and probiotics. The probiotics segment is expected to grow at a higher rate during the forecast period. However, stringent regulations pertaining to the use of growth promoters in animal feed could hamper the market growth.

Market Driver – Increasing Demand for Meat and Dairy Products

The consumption of meat and dairy products has increased substantially across both developing and developed nations owing to rising incomes, population growth, and urbanization. As populations continue to grow globally and become wealthier, people are consuming more meat, poultry, fish, eggs, and dairy on a per capita basis. This boom in the consumption of animal protein has spurred intensive farming practices to ramp up the meat production to meet demand. Farmers are under constant pressure to raise livestock that grows faster, bigger, and require less feed. By facilitating more efficient growth, animal growth promoters and performance enhancers help satisfy the growing worldwide appetite for animal protein while maximizing profit margins for producers.

The global population is projected to reach almost 10 billion by 2050, According to data published by World Bank, placing unprecedented pressure on agriculture and food systems. At the same time, arable land resources are limited and climate change pose challenges. Meat production is also coming under scrutiny due to environmental impacts. In this scenario, it is crucial for livestock farmers to maximize yields from their animals while coping with constraints. Animal growth promoters and performance enhancers provide solutions to boost output per animal without demanding more land or water resources. Their use ensures high productivity levels year after year even as operating costs rise. Furthermore, market forces like intense competition and price wars in the meat industry place constant pressure on producers to improve efficiency. Growth promoters help farms and meat suppliers enhance turnover, meet delivery commitments, and achieve quality specifications demanded by food retailers and restaurant chains.