The Business Research Company’s Animal Growth Promoters And Performance Enhancers Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, March 23, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Companies in the animal growth promoters and performance enhancers market are increasingly investing in phytogenics for higher efficiency of growth promoters through natural means. Phytogenics, sometimes also referred to as botanicals or phytobiotics, are plant-based feed additives utilized in animal nutrition. They are derived from herbs, spices, and extracts. Phytochemicals can be used in solid, dried, and ground form or as extracts, and also can be classified as essential oils and oleoresins depending on the process used to derive the active ingredients. The use of phytogenics promotes increased feed intake, improved gut function, prevention of diarrhea, and antimicrobial and antioxidative effects in livestock. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics.
Major players in the animal growth promoters market are Merck Animal Health, Cargill, Royal DSM N.V., Vetoquinol S.A., Bupo Animal Health, Elanco Animal Health Inc., Alltech, Bayer Animal Health, Zoetis, and Bioniche Life Sciences.
Animal growth promoters and performance enhancers market trends also include mergers and acquisitions. In June 2020, Elanco acquired Bayer Animal Health for $7.6 billion. Bayer Animal Health is a division of Bayer HealthCare. This acquisition is expected to help Elanco to expand their product profile expand their reach for medicines for pets and livestock.
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The global animal growth promoters and performance enhancers market is expected to grow from $12.41 billion in 2020 to $13.43 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.28 billion in 2025 at a CAGR of 8%.
The global animal growth promoters & performance enhancers market is segmented by type into antibiotic growth promoters, non-antibiotic growth promoters, by animal type into poultry, swine, livestock, aquaculture, other animals, and by nature of chemicals into microbial products, prebiotics and probiotics, yeast products, enzymes/herbs, oils and spices.
Animal Growth Promoters And Performance Enhancers Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides animal growth promoters and performance enhancers market overview, forecast animal growth promoters and performance enhancers market size and growth for the whole market, animal growth promoters and performance enhancers market segments, and geographies, animal growth promoters and performance enhancers market trends, animal growth promoters and performance enhancers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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