Global Animal Growth Promoters and Performance Enhancers Market (Antibiotics, Growth Hormones, Feed Enzymes, Organic Acids, Probiotics and Prebiotics, Agonists, Phytogenics) – Forecasts to 2018
|DUBLIN, May 8, 2014 /PRNewswire/ — Research and Markets (http://www.researchandmarkets.com/research/j5jhsq/animal_growth) has announced the addition of the “Animal Growth Promoters and Performance Enhancers Market by Segment (Antibiotics, Growth Hormones, Feed Enzymes, Organic Acids, Probiotics and Prebiotics, â-Agonists, Phytogenics), by Animals (Porcine, Poultry, Aquaculture) – Global Forecasts to 2018” report to their offering.
Over the years, the global demand for animal meat is increasing significantly. In order to meet the growing demand, they are widely being used in the animal feed. The pivotal factors driving the meat demand is the enormous surge in population, urbanization, and increase in gross domestic product per capita in developing countries.
The global animal growth promoters market is categorized into eight broad segments, namely, antibiotics, probiotics and prebiotics, organic acids, phytogenics, â-agonists, hormonal growth promoters, feed enzymes, and others. Based on the animals, the animal growth promoters market comprises of porcine, poultry, livestock equine, aquaculture and others.
The global animal growth promoters market was valued at $6,871.6 million in 2013 and is expected to reach $8,787 million by 2018, growing at a CAGR of 5% from 2013 to 2018. The antibiotic growth promoters commanded the largest share of the global animal growth promoters market in 2013. However, the feed enzymes market is likely to grow at a highest CAGR in the forecast period (2013-2018).
They are used in animal feed to increase the weight of the animals and to promote faster growth. The use of growth promoters results in a direct decrease in the production cost of meat; by decreasing the amount of high cost natural feed. In addition, the use of growth promoters decreases the amount of resources required, which brings down the cost of the animal meat ultimately. The risk of loss to epidemic outbreaks is prompting the producers to make use of growth promoters and performance enhancers. Thus the demand for is likely to continue owing to the increasing prices of resources such as feed, water, land, and increasing epidemic outbreaks in animals.
Asia acc ounted for the largest share of the global animal growth promoters market, followed by North America and RoW. The growth in the market is likely to be focused on the fast-growing Asian region owing to the increase in the expenditure capacity of the middle class and the rising meat demand due to the growing population.
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