Animal Growth Promoters and Performance Enhancers Market

Cargill Inc. (US) and Royal DSM N.V. (Netherlands) are Leading Players in the Animal Growth Promoters and Performance Enhancers Market

The global animal growth promoters and performance enhancers market is projected to reach USD 18.5 billion by 2024 from an estimated USD 13.9 billion in 2019 at a CAGR of 5.9%. The growth of this market is primarily driven by the increasing global meat demand, research for alternatives to antibiotics, and the need to deal with epidemic outbreaks and climate changes. On the other hand, stringent regulations restricting the use of antibiotics and hormones for growth promotion in animals is a major challenge in this market.

The animal growth promoters and performance enhancers market is well established owing to the dominance of prominent market players. In 2018, Cargill Inc. (US), Royal DSM N.V. (Germany), and Elanco Animal Health Inc. (US) were the major players operating in this market. Some of the other key players in this market include Merck and Co. Inc. (US), Vetoquinol (France), Bupo Animal Health (SA), CHR Hansen (UK), Novus International Inc. (US), Associated British Foods (ABF) plc (UK), Alltech Inc. (US), ERBER AG (UK), Archer-Daniels-Midland Company (US), Phibro Animal Health Corporation (US), Kemin Industries (US), SHV (Nutreco) (UK), BASF SE (UK), Lallemond Inc. (Canada), Bluestar Adisseo Company (France), Evonik Industries AG (UK), and Land O Lake Inc. (US).

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Cargill Inc. (US) dominated the animal growth promoters and performance enhancers market in 2018. The company is among the worlds largest privately-owned businesses, providing food, agricultural, risk management, financial, and industrial products & services around the globe. Cargill is also a major supplier of animal nutrition products; it offers feed ingredients, feed formulations, compound feed, premixes, feed additives, and other customized solutions in the animal health market. It serves the animal nutrition market primarily through its Animal Nutrition and Health business segment that offers a range of growth promoter substances used in commercial animal production sectors such as swine, poultry, and aquaculture. The company offers its products through well-established brands that have been operating for more than a decade, which in turn provides a base for high quality and authentic products. Some of the brands included are Purina, Provimi, Diamond V, and Nutrena.

Cargill’s leading position in the market can be attributed to its strong geographic presence across the globe and innovative product solutions. The company has a widespread presence in over 70 countries across the Asia Pacific, the Middle East & Africa, Europe, Latin America, and North America. Cargill also brings innovative solutions to animal producers, feed manufacturers, and retailers in the market. For instance, the company provides the Cargill Nutrition System that gives a real-time nutrient analysis of feed ingredients, as well as information from the Cargill’s global ingredient sourcing database. This helps animal producers plan nutrition diets for animals, and the ingredient sourcing database helps producers on-demand in case of queries.

Royal DSM N.V. (Netherlands) was another major player in the global animal growth promoters and performance enhancers market for 2018. The company develops, manufactures, and supplies a broad range of animal health nutrition products, which include animal feed, feed additives, and growth promoters. The company markets eubiotics, carotenoids, and numerous feed enzymes products for poultry, swine, ruminants, and aquaculture through the Animal Nutrition & Health segment. This segment registered a CAGR of 7% for the years 2016 to 2018. The growth is attributed to the ability of the company to address the needs of a wide range of species, as well as its diversified geographical presence. The company has a strong portfolio of products for aquaculture. It also possesses a strong brand name and vast geographic presence. Royal DSM expanded and strengthened its presence in developing countries such as Thailand and India. The company is leveraging its unique technology capabilities to develop innovative and sustainable solutions. In 2018, the company invested 4.5% of sales in R&D and created a strong and refocused innovation pipeline to drive long-term growth, thereby earning a 19% increase in sales. The company’s specialized product portfolio, strong geographic presence, and robust research development investments, along with intense market penetration, are some of the factors expected to promote its presence in the animal growth promoters and performance enhancers market in the coming years.

Related Reports:

Animal Growth Promoters and Performance Enhancers Market by Product Antibiotic and Non-antibiotic (Hormones, Acidifiers, Feed Enzymes, Probioitcs & Prebiotics, Phytogenics), Animal (Poultry, Porcine, Livestock, Aquaculture) - Global Forecast to 2024

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Report Code
BT 4276
RI Published ON
1/22/2020
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