What is Global Farm Animal Growth Promoter Market?
The Global Farm Animal Growth Promoter Market is a sector that focuses on the use of substances to enhance the growth and development of farm animals. These substances, known as growth promoters, are used to increase the efficiency of animal feed by enhancing the growth rate and weight gain of the animals. The market encompasses a wide range of products, including antibiotics, hormones, probiotics, and other natural growth promoters. The use of these growth promoters is prevalent in the farming industry, as they help to increase the productivity and profitability of the farms. However, the market is also subject to stringent regulations and guidelines, due to concerns over animal welfare and the potential impact on human health. Despite these challenges, the market continues to grow, driven by the increasing demand for meat and dairy products worldwide.
Antibiotics, Natural Growth Promoters (NGPs) in the Global Farm Animal Growth Promoter Market:
Antibiotics and Natural Growth Promoters (NGPs) are two key types of growth promoters used in the Global Farm Animal Growth Promoter Market. Antibiotics are used to prevent and treat diseases in animals, thereby promoting their growth and development. They work by killing or inhibiting the growth of bacteria that cause diseases in animals. On the other hand, NGPs are substances derived from natural sources, such as plants, animals, or microorganisms, that promote the growth of animals. They work by enhancing the digestive efficiency of the animals, improving their immune system, and reducing their susceptibility to diseases. The use of NGPs is gaining popularity in the market, due to the growing concerns over the use of antibiotics and their potential impact on human health and the environment.
Beef Cattle, Sheep and Goat, Pigs, Chicken, Others in the Global Farm Animal Growth Promoter Market:
The Global Farm Animal Growth Promoter Market is used in various areas, including beef cattle, sheep and goat, pigs, chicken, and others. In beef cattle, growth promoters are used to enhance the growth rate and weight gain of the cattle, thereby increasing the production of beef. In sheep and goat, they are used to increase the production of meat and milk. In pigs, they are used to enhance the growth and development of the pigs, thereby increasing the production of pork. In chicken, they are used to increase the growth rate and weight gain of the chickens, thereby increasing the production of chicken meat and eggs. In other areas, such as dairy farming and aquaculture, growth promoters are used to enhance the productivity and profitability of the farms.
Global Farm Animal Growth Promoter Market Outlook:
The market outlook for the Global Farm Animal Growth Promoter Market is positive. In 2022, the market was valued at US$ 3141 million. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.7% from 2023 to 2029, reaching a value of US$ 4072.3 million by 2029. This growth is driven by the increasing demand for meat and dairy products worldwide, the growing population, and the rising income levels in developing countries. However, the market is also subject to challenges, such as stringent regulations and guidelines, concerns over animal welfare, and the potential impact on human health and the environment. Despite these challenges, the market is expected to continue to grow, driven by the increasing demand for efficient and sustainable farming practices.
| Report Metric | Details |
| Report Name | Farm Animal Growth Promoter Market |
| Accounted market size in 2023 | US$ 3274.7 million |
| Forecasted market size in 2029 | US$ 4072.3 million |
| CAGR | 3.7 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Cargill Animal Health, Royal DSM N.V., Elanco Animal Health, Zoetis, Inc., Alltech, Inc., Bayer Animal Health, Kemin, Yiduoli, DuPont (Danisco), Novozymes, Merck Animal Health, Biomin, Novus International, Inc., BASF SE, Chr.Hansen |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
