The Business Research Company's animal antibiotics and antimicrobials market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON , Aug. 23, 2022 /PRNewswire/ -- Rising demand for animal-derived food products is driving the growth of the animal antibiotics and antimicrobials market. Animal-derived food products such as milk, eggs, meat, and others are a major source of nutrition and play a prominent role in the human diet. The companies/institutions involved in the production of animal-derived foods are focusing on developing a healthy herd or a disease-free herd through the utilization of animal antibiotics and antimicrobials on a precautionary basis. According to the data published in the Packaged Facts report on Global Meat & Poultry Trends, global meat and poultry consumption is expected to reach 313 million metric tons in 2023, at a year-on-year growth rate of 1.4%. Therefore, increasing demand for animal-derived food products is expected to boost demand for animal antibiotics and antimicrobials during the forecast period.
The global animal antibiotics and antimicrobials market size is expected to grow from $4.23 billion in 2021 to $4.49 billion in 2022 at a compound annual growth rate (CAGR) of 6.11%. The global animal antibiotics and antimicrobials market growth is expected to reach $5.26 billion in 2026 at a compound annual growth rate (CAGR) of 4.04%.
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Strategic Partnership – A Rising Trend In The Animal Antibiotics And Antimicrobials Market
Strategic partnership is a key trend gaining popularity in the animal antibiotics and antimicrobials market. The companies operating in the animal antibiotics and antimicrobial sectors are entering into strategic partnerships with relevant industry players for the research and development of innovative animal antibiotics and antimicrobials. In May 2022 , Gnubiotics Sciences, a Switzerland -based biotech company working to solve microbiome-related health conditions in humans and animals, entered into a partnership with ADM, a USA -based developer of human and health nutrition solutions, to commercialize new microbiome solutions for companion animal health and wellbeing.
North America Was The Largest Region In The Animal Antibiotics And Antimicrobials Market In 2021
North America was the largest region in the animal antibiotics and antimicrobials market 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 animal antibiotics and antimicrobials market forecast are Asia-Pacific , Western Europe , Eastern Europe , North America , South America , the Middle East , and Africa .
Animal Antibiotics And Antimicrobials 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 Mode of Delivery: Premixes, Oral Powder, Oral Solution, Injection, Others
By Animal Type: Food-Producing Animals, Companion Animals
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Animal Hospitals And Veterinary Clinics Global Market Report 2022 – By Type (Consultation, Surgery, Medicine), By Animal Type (Farm Animals, Companion Animals), By End User (Animal Care, Animal Rescue) – Market Size, Trends, And Global Forecast 2022-2026
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