Animal Antibiotics And Antimicrobials Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Animal Antibiotics And Antimicrobials Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
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LANDON, GREATER LANDON, UK, November 16, 2023 /EINPresswire.com/ — The global animal antibiotics and antimicrobials market is projected to witness substantial expansion, increasing from $4.68 billion in 2022 to $5.07 billion in 2023, exhibiting a robust compound annual growth rate (CAGR) of 8.4%. Despite setbacks from the ongoing Russia-Ukraine war impacting global economic recovery post the COVID-19 pandemic, the market is anticipated to reach $6.95 billion by 2027, propelled by the surging demand for animal-derived food products.
Rising Demand for Animal-Derived Food Products Drives Market Growth
The mounting demand for animal-derived food products, such as milk, eggs, and meat, serves as a significant driver fostering the growth of the animal antibiotics and antimicrobials market. Given the crucial role of animal-derived products in human nutrition, companies and institutions involved in their production prioritize the development of healthy and disease-free herds, often employing animal antibiotics and antimicrobials as a precautionary measure. According to the Packaged Facts report on Global Meat & Poultry trends, the global meat and poultry consumption is projected to reach 313 million metric tons in 2023, emphasizing the pivotal role of animal-derived food products in boosting the demand for animal antibiotics and antimicrobials during the forecast period.
Explore the global animal antibiotics and antimicrobials market with a detailed sample report:
Key Players and Market Trends
Prominent players in the animal antibiotics and antimicrobials market include Boehringer Ingelheim, Zoetis Inc., Elanco Animal Health, and Merck & Co. Inc., among others, contributing significantly to the industry’s competitive landscape. Notably, strategic partnerships represent a key trend gaining traction, as evidenced by Gnubiotics Sciences’ collaboration with ADM in May 2022. This partnership aims to facilitate the development and commercialization of innovative microbiome solutions for the health and well-being of companion animals, underscoring the industry’s commitment to advancing animal health through collaborative research and development initiatives.
• By Type of Product: Tetracyclines, Penicillins, Sulfonamides, Macrolides, Aminoglycosides, Lincosamides, Fluoroquinolones, Cephalosporins, Other Antimicrobials and Antibiotics
• By Mode of Delivery: Premixes, Oral Powder, Oral Solution, Injection, Other Modes of Delivery
• By Animal Type: Food-Producing Animals, Companion Animals
Geographical Insights: North America Leading, Asia-Pacific Set to Drive Growth
North America emerged as the largest region in the animal antibiotics and antimicrobials market in 2022, while Asia-Pacific is poised to showcase the fastest growth in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and potential growth opportunities.
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Animal Antibiotics and Antimicrobials Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Animal Antibiotics and Antimicrobials Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on animal antibiotics and antimicrobials market size, animal antibiotics and antimicrobials market drivers and trends, animal antibiotics and antimicrobials market major players, competitors’ revenues, animal antibiotics and antimicrobials market positioning, and animal antibiotics and antimicrobials market growth across geographies. The animal antibiotics and antimicrobials market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Animal Antibiotics and Antimicrobials Market Poised for Growth, Expected to Reach $6.95 Billion by 2027