ANIMAL GROWTH PROMOTERS PERFORMANCE ENHANCERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global animal growth promoters performance enhancers market is estimated to be valued at USD 17.33 Bn in 2024 and is expected to exhibit a CAGR of 5.9% during the forecast period (2024-2031). Animal growth promoters and performance enhancers refer to feed additives that are administered to livestock in order to increase weight gain and enhance the production output. They work by modifying the gastrointestinal microflora and metabolism in animals, thereby facilitating higher nutrient absorption and utilization. Some of the commonly used growth promoters include antibiotics, hormones, beta-agonists, prebiotics, and probiotics. The global animal growth promoters performance enhancers has witnessed steady growth over the past few decades, driven by the rising demand for meat and protein globally. However, there is increasing scrutiny on the use of antibiotics and hormone growth promoters due to residual concerns and ban in many countries such as Namibia. This has spurred research on alternative natural growth promoters.
Market Dynamics:
The growth of the animal growth promoters and performance enhancers market is driven by rising meat consumption patterns across the globe and the need to optimize feed conversion ratios (FCR) in livestock production. Additionally, growing awareness among farmers pertaining to productivity gains achieved through these feed additives is augmenting demand. However, stringent regulations restricting the use of antibiotics and hormones as growth promoters pose a major challenge. Also, the rising preference for antibiotic-free and residue-free meat presents an adverse impact. Furthermore, alternate ingredients, such as prebiotics and phytochemicals, offer promising opportunities as natural growth promoters in the coming years. The adoption of precision and digital livestock farming also presents new avenues by enabling the close monitoring of animal health and growth.
Key Features of the Study:
Detailed Segmentation-
Table of Contents
*Browse 28 market data tables and 26 figures on “Animal Growth Promoters Performance Enhancers Market” - Global forecast to 2031
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