Visiongain has published a new report on Animal Growth Promoters & Performance Enhancers Market Report to 2031: Forecasts By Product Type (Antibiotics, Probiotics & Prebiotics, Acidifiers, Feed Enzymes, Phytogenics, Hormones, Others), By Livestock (Poultry, Bovine, Swine, Ovies Aries, Others) PLUS Profiles of Leading Animal Growth Promoters & Performance Enhancers Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.

Global Animal Growth Promoters & Performance Enhancers market was valued at US$ XX million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Rising meat consumption is one of the major factors augmenting market growth of animal growth promoters & performance enhancers market at present.

COVID-19 Impact on Animal Growth Promoters & Performance Enhancers Market

The outbreak of COVID-19 and the recession that has come along with it has severely hit the economic growth of major countries such the U.S., India, Japan, Germany, U.K., France and Brazil among others. Industries in these countries have taken a major hit, as businesses have slowed down. However, the food & beverage industry did not face the full brunt of the pandemic since this industry comes under the essentials category. Everyday products such as cereals, meat and fish, spices, dairy products etc. are the basic necessities for survival hence supply of these products remained in continuity during the lcokdown. Due to this, the supply chain of this industry was not affected to that extent, although a minimal impact was detected during the initial phase of the lockdown, as it took some time for the suppliers in the food & beverage industry to adjust to the new rules and regulations. In addition, during the initial phase of the lockdown, meat producers battled with rumours that meat is a major mode of transmission of coronavirus. Due to this rumour, consumers refrained from consuming meat products and, as a result of which demand for meat plummeted for brief period of time. Further, as retail stores were forced to close down due to the lockdown that was imposed in several countries in order to curb the spread of the virus. Further, as consumers’ wallets tightened due to multiple job losses and pay cuts across the globe, their focus shifted towards the basic necessities. These factors combined led to a fall in the demand for processed meat products. However demand for these products is gradually recovering as most countries are gradually coming out of the lockdown in order to restart the economy. However, demand for non-essential food products will take some more time to recover as the consumers are still pulling their purchases since the world is still under recession.

Market Drivers

High Meat Consumption

High meat consumption is one of the major factors driving market growth of animal growth promoters and performance enhancers at present. U.S., China, Japan, Australia, Germany, France and U.K. are some of the countries that consume the maximum amount of meat. In 2019, per capita consumption of poultry meat stood at 50.1 kilograms, followed by beef at 26.3 kilograms per capita, and pork at 24.0 kilograms per capita. The U.S. population, particularly the adults still consume the same amount of processed meat as they did 18 years ago. Processed meat mostly includes red meat such as pork and beef. The meat and poultry industry in the U.S. is one of the largest segment of the agriculture sector in the country. Snack products such as sausages, and hamburgers are hot favourites among the U.S. population. As such, more than 250 million people in the U.S. consumed sausages at least once a day in 2019. Owing to the high consumption of pork in the U.S., Hormel Foods Corporation has introduced a new spiced-flavour version of its ham and pork brand. In addition, there is a high demand for poultry meat in the country as well, due to which Starkist, which is a market leader in the shelf stable seafood category, recently forayed into the poultry segment with its Chicken Creation pouches.

Concerns Over Animal-borne Disease Outbreaks

The outbreak of animal-borne diseases have sparked among consumers and producers alike. They have become increasingly conscious about the source of the meat products and the authenticity of the products. Animal-borne diseases are not common, and few instances have wreaked havoc across the world. For instance, bovine tuberculosis is a part of the TB family that became a leading cause of death from a single infectious agent. 2018 witnessed close to 1.5 million deaths due to bovine tuberculosis. Bovine tuberculosis remains as an endemic among the cattle population across the globe. Bird flu (H5N1) is another major disease outbreak that shook poultry meat consuming countries such as China, India, Bangladesh, Egypt, Indonesia and Vietnam. Bird flu was detected in human in 1997, and it still continues to infect and kill several people in these countries. More than 900 cases and close to 500 deaths were reported between 2009 and 2013. Moreover, swine flu (H1N1) is another deadly virus that was first detected in humans in 2009, and originated in the U.S. This disease has resulted in the death of close to 300,000 till date. Owing to these outbreaks, demand for growth promoters and performance enhancers shot up significantly, and will remain to display a positive trend throughout the forecast period

Market Restraints

Stringent Government Regulation on Feed Probiotics

Rules and regulations circling probiotics in animal feed is gradually becoming more stringent, effective slowing down the growth of the market. International governing bodies such as the USFDA, WHO, EFSA, etc monitor the usage of several additives in feed and issue strict regulations for the manufacturers of probiotics. Such organizations regulate the application of ingredients and chemicals in feed processing. The EU and the U.S. issued a ban on antibiotics as growth promoters. However, major meat exporting countries such as China and Brazil do not have such regulations imposed against antibiotics. Such disparities have a negative effect on the global meat trade, between developing and developed nations. These factors are greatly inhibiting market growth of the animal growth promoters & performance enhancers market

Competitive Landscape

Some of the companies profiled in the report include Cargill Inc., Koninklijke DSM NV, Elanco Animal Health, Alltech Inc. and Merck Group among others. For instance, in December 2018, Evonik Industries and Vland signed an agreement by way of a memorandum of understanding for strategic co-operation, as the two companies are planning on innovations that are related to probiotics in animal feed.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

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