Antimicrobials and antibiotics destroy various disease carrying micro organisms present in the food products. Use of antibiotics in animal feed and livestock automatically creates healthy supply for the humans. They play the vital role of stopping the transmission of bacteria from animals to humans. Growth in the demand for livestock, pet animals and animal products are creating strong demand in the global animal antimicrobials market. Growing demand from the emerging markets is expected to play a key role in the development of this industry during the next few years to come. Established players in this industry are also relying on technological advancements and changing government norms to achieve the desired business goals.
Drivers and Restraints
Rising demand for livestock and animal products is the main driver for the animal antimicrobials market. Increasing customer awareness is making the industry players extra cautious about the types of products that are used in the market. Outbreaks of different types of animal diseases and the higher risk of their transmission into the humans is also a serious concern for the industry producers to use antibiotics and antimicrobials for animals. Growing trend of companion animal ownership across the world is also a vital element driving the market growth.
Asia Pacific is a significant factor influencing this industry in terms of demand, revenue and investment opportunities. Strong demand from China and India is expected to help the industry to maintain healthy growth rate during the next few years to come. Rapid growth in pet health insurance and rising demand for pet animals across the world are creating major opportunities for this market. However, key restraints for the animal antimicrobials market include regulatory authorities and governmental restrictions, dearth of production in new antibiotics, and growing market for in-feed enzymes.
From 2014 to 2018, the global animal antimicrobials market is expected to grow at a steady CAGR of over 4%. At this modest compound annual growth rate, the industry is expected to reach past $4,143.8 million by the end of the year 2018. Asia and Latin America are expected to be the most developing and promising markets for animal antibiotics. Dearth of antibiotics and growing market for probiotics as an alternative to the antimicrobials are expected to be major hurdles for this industry during the forecasting period. Innovative applications and growing demand for pet animals however, are expected to help the market to hold its ground in near future.