The global animal production industry is on the constant lookout for the ways to make their businesses more efficient. Rising demand for the industry products is the biggest reasons for this changing trend. Many businesses in this industry are using animal growth promoters in order to improve the quality and quantity of the animal products. This is looked at as the basic trend to match the rapidly increasing global demand. Use of these promoters in animal feed helps animals gain weight, which influences the yield of the meat at the time of the production. All these factors play vital role in the growth and current trends in the animal growth promoters market. Rising demand for meat and such other products is expected to help the industry to maintain a healthy growth rate during the next few years, which is a great sign for the existing as well as potential investors.
Growth Factors in Animal Products Industry
The global animal growth promoters market is driven by the rising demand in the animal production industry. In order to meet the enormous changes in the dietary patterns and growing consumption of meat is creating shortage of the production. This is when the industry is making use of various artificial products to increase the quantity of production while saving on the production costs. Inclusion of promoters in the animal feed results in the animals gaining rapid weight, which reflects in higher yields. Several other factors driving the industry include population explosion, rise in the domestic product and per capita income across the developing parts of the world and urbanization of the emerging regions.
Segmentation in Animal Growth Promoter Market
The global animal growth promoters market is segmented based on the types of products, animal industries and geography. The products segment includes phytogenics, feed enzymes, antibiotics, organic acids, probiotics, prebiotics, â-agonists, and hormonal growth promonants and so on. The animal industries include aquaculture, live stock, porcine, equine, poultry, and other animals. Based on geographic regions, the industry is segmented into North America, Europe, Asia, and the rest of the world. The rest of the world region includes detailed analysis of the Latin America, Africa, Pacific countries, and Middle East.
According to the analysis of the segmentation and the latest trends of the industry, researchers expect the animal growth promoters market to grow at a steady CAGR. According to the experts, the industry is expected to grow at a steady CAGR of over 5% from 2013, reaching $8,787 million by 2018. In 2013, the market was estimated to be worth $6,871.6 million. Antibiotics segment is expected to witness the maximum growth among all the products in the market. Asian countries like China, India, Japan and the rest of the Asia are expected to record the maximum demand, thanks to a number of factors like changing lifestyle, eating habits and spending capacities.