The Animal Growth Promoters Market is being driven by Rise in global meat consumption
The Animal Growth Promoters Market is expected to grow at a CAGR of 7.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6189.3 million. In the animal feed industry, antimicrobial compounds have historically been utilized to enhance growth and prevent diseases in livestock. However, the European Union (EU) imposed a ban on feed-grade antibiotic growth promoters due to concerns over cross-resistance and potential risks to food safety and public health. Consequently, animal feed manufacturers are shifting towards natural growth promoters as an alternative. These natural promoters consist of botanical additives, such as herbs and plant extracts, which stimulate growth by influencing appetite and intestinal microflora. The resulting increase in pancreatic secretions boosts endogenous enzyme activity and enhances the livestock's immune system.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Poultry, Livestock, Swine, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Animal Growth Promoters Market Research Report
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The Animal Growth Promoters Market encompasses various Performance Enhancers and Animal Health Products, including Livestock-based Products. The ban on Antibiotics in animal feed has led to the exploration of alternatives such as Organic Dairy Farms, Good Husbandry Practices, and Organic Food. Infectious diseases and Greenhouse Gases continue to pose challenges, driving demand for Veterinary Drugs and Preventive Care. Poultry Probiotic Ingredients and Animal Feed Probiotics, Meat Products, and Livestock Production are other significant market areas. Phytogenic, Enzymes, Immunity Boosters, and Organic Acids function as Feed Additives, enhancing Animal Protein production in an Antibiotic-free Production environment. The Poultry industry and Meat production sectors are major consumers, with Feed Conversion and Infectious Diseases influencing market trends.
The Animal Growth Promoters market encompasses businesses specializing in the production of Performance Enhancers, Animal Health Products, and Livestock-based Products. Factors driving market growth include the escalating demand for animal products in response to increasing global population and changing consumer preferences for Organic Dairy Farms and Organic Food. However, challenges such as Animal Epidemics, Antibiotics Ban, and Zoonoses pose significant risks. Moreover, the shift towards reducing Greenhouse Gas emissions, particularly Methane from livestock, may impact market dynamics. Despite these challenges, continuous innovation in disease prevention and control measures, as well as the development of sustainable alternatives, presents opportunities for growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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