NEW YORK, May 6, 2021 /PRNewswire/ — The animal growth enhancers market is expected to grow by USD 4.63 bn during 2021-2025, expanding at a CAGR of almost 7%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
Animal Growth Enhancers Market: Protection of humans from animal-food related diseases to drive growth
The rise in the need for anti-microbial agents can be observed due to the increasing prevalence of food-borne illnesses by the infections from campylobacter, Salmonella, Escherichia E. coli, and Vibrio. The growing need to protect humans from animal-food-related diseases will be one of the significant factors that will have a positive impact on the market’s growth. The administration of anti-microbial agents in animals helps to control the transmission of diseases such as zoonotic pathogens from animals to humans. The bacterial count in meat and poultry eggs can be reduced with the help of gentamycin. Similarly, the administration of neomycin reduces E. coli and H7 in animal feces. Moreover, the contamination of clostridium perfringens can be reduced with the help of Virginiamycin, whereas, salinomycin reduces the infection of Type C Clostridium in sows and weaning piglets by 43%.
Is there any relief during this COVID pandemic?
As per Technavio, the growing use of organic minerals to sustain livestock health will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Animal Growth Enhancers Market: Growing use of organic minerals to sustain livestock health
The growing use of organic minerals to sustain livestock health is one of the key market trends and positively impacts the growth. Organic acid acts as an alternative antibiotic growth promoter and probiotics and prebiotics are used as feed additives. Organic feed is extensively preferred because they provide multi-vitamins along with organic minerals. Organic feeds are easy to administrate and easy to digest, which is why they are more efficient when compared to dry feed additive products.
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Companion Animal Specialty Drugs Market by Product and Geography – Forecast and Analysis 2020-2024: The companion animal specialty drugs market size has the potential to grow by USD 2.29 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report
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Animal Growth Enhancers Market: Segmentation Analysis
This market research report segments the animal growth enhancers market by Product (Antibiotics, Prebiotics and probiotics, Feed enzymes, and Others) and Geography (Asia, North America, Europe, and ROW).
49% of the market’s growth will originate from Asia during the forecast period. China, India, and Indonesia are the key markets for the animal growth enhancers market in Asia. Market growth in this region will be faster than the growth of the market in other regions. The animal growth enhancers market growth in Asia can be attributed to the increasing animal ownership, economic growth, the industrialization of the livestock industry, rising farmers’ awareness, and government support.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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