Animal health products,
including growth promoters and performance enhancers, are types of drugs and
chemicals used for animal growth. These enhancers help to digest food more
effectively and enable animals to grow faster, which, in turn, help to improve
productivity. Growth in the animal growth promoters and performance enhancers
market is majorly driven by the rising demand for animal consumption and
consumption of livestock-based products, rising global demand for naturally
produced growth promoters, and rising animal epidemics and climate change.
However, a ban on antibiotics in different nations and stringent regulations
restricting the use of antibiotics and hormones for growth promotion in animals
are expected to restrain the growth of the animal growth promoters and
performance enhancers market during the forecast period.
The global Animal growth promoters and performance enhancers market is projected to reach USD 21.4 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 5.7%.
The global animal growth
promoters and performance enhancers market are Cargill, Incorporated (US),
Royal DSM N.V. (Netherlands), Elanco Animal Health Incorporated (US),
Boehringer Ingelheim Group (Germany), Merck & Co., Inc (US), Alltech
Corporation (US), Archer-Daniels-Midland Company (ADM) (US), Vetoquinol S.A.
(France), Bupo Animal Health Pty Ltd (South Africa), Novus International, Inc.
(US), Associated British Foods plc (UK), Erber AG (Austria), Phibro Animal
Health Corporation (US), Kemin Industries, Inc. (US), Zoetis Inc. (US), Nutreco
N.V. (Netherlands), Novozymes A/S (Denmark), BASF SE (Germany), Evonik
Industries AG (Germany), Bluestar Adisseo Company (China), Land O’Lakes, Inc.
(US), Chr. Hansen (Denmark), Biomin Holding GmbH (Austria), Guangdong VTR
Bio-Tech Co., Ltd. (China), and Lallemand Inc. (Canada). These companies
adopted strategies such as acquisitions, partnerships, expansions, and product
launches to enhance their presence in the animal growth promoters and
performance enhancers market.
Cargill, Incorporated. is a key player in the market, and animal growth promoters and performance enhancers are two major sources of revenue for the company. This segment is the strongest performing segment as well as the largest contributor to the company’s revenue. Cargill brings innovative solutions to animal producers, feed manufacturers, and retailers in the animal growth promoters and performance enhancers market. It provides the Cargill Nutrition System, which provides a real-time nutrient analysis of feed ingredients, as well as information from the company’s global ingredient sourcing database. This helps animal producers plan nutrition diets for animals, and the database assists producers on demand in case of any queries.
Royal DSM N.V. is a
prominent player in the animal growth promoters and performance enhancers
market. Its leading position among other players in this market can be
attributed to its wide product portfolio that includes growth promoters and
performance enhancers, such as RONOZYME WX, ROVIMAX NX, Optimum Vitamin
Nutrition (OVN). The company has a wide geographic presence spanning Europe and
Latin America.
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