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%.
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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.
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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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