The Business Research Company’s market research report for Antibiotics and Antimicrobials for Animals takes a closer look at the key drivers, trends and growth opportunities in the market.
LONDON, Aug 23, 2022 /PRNewswire/ — Rising demand for animal-derived food products is fueling the growth of the market for animal antibiotics and antimicrobials. Animal food products such as milk, eggs, meat and others are an important source of nutrition and play a prominent role in the human diet. As a precaution, the companies/institutions involved in the production of animal food focus on developing a healthy herd or a disease-free herd through the use of animal antibiotics and antimicrobials. According to data published in the Packaged Facts on Global Meat & Poultry Trends report, global meat and poultry consumption is expected to reach 313 million tons by 2023, growing at an annual rate of 1.4%. Therefore, the increasing demand for animal food products is expected to drive the demand for animal antibiotics and antimicrobials during the forecast period.
The global market for antibiotics and antimicrobials for animals is expected to grow from $4.23 billion in 2021 to $4.49 billion in 2022 with a compound annual growth rate (CAGR) of 6.11%. The global market growth for antibiotics and antimicrobials for animals is expected to $5.26 billion in 2026 with a compound annual growth rate (CAGR) of 4.04%.
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Strategic partnership – an upward trend in the market for antibiotics and antibiotics for animals
Strategic partnership is an important trend that is gaining popularity in the animal antibiotic and antimicrobial market. The companies active in the animal antibiotics and antimicrobial sectors enter into strategic partnerships with relevant industry players for the research and development of innovative animal antibiotics and antimicrobials. In May 2022Gnubiotics Sciences, a Switzerland-based biotech company working to solve microbiome-related human and animal health problems has partnered with ADM, a United States-based developer of human and health nutritional solutions, to bring to market novel microbiome solutions for companion animal health and welfare.
North America was the largest region in the market for antibiotics and antibiotics for animals in 2021
North America was the largest region in the market for antibiotics and antimicrobials for animals in 2021. Asia-Pacific is expected to be the fastest growing region in the global animal antibiotics and antimicrobials market during the forecast period. The regions covered in the global market forecast for antibiotics and antimicrobials for animals are: Asia-Pacific, Western Europe, Eastern Europe, North America, South Americathe Middle Eastand Africa.
Animal Antibiotics and Antimicrobial Industry Segmentation
The Global Animal Antibiotics and Antimicrobials Market Analysis is Segmented:
By type of product: tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, lincosamides, fluoroquinolones, cephalosporins, other antimicrobials and antibiotics
By Delivery Method: Premixes, Oral Powder, Oral Solution, Injection, Other
By animal species: food-producing animals, companion animals
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