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Potential human health benefits of antibiotics used in food animals; a case study of virginiamycin. The virginiamycin market is flourishing due to the rapid increase in human population resulting in an increased demand for livestock. The growing livestock production has raised the demand for animal feed and virginiamycin in the global market. The virginiamycin market has been growing due to the necessity for the additional supplements in the diet for a companion as well as livestock animals for appropriate nutrition. The market is anticipated to showcase significant growth in the forecast period due to the rising demand for meat, milk, and poultry across the regions.
The shift in food consumption and dietary trends in livestock products is predominantly driving the current day world food economy. In the last several decades, the APEJ region has experienced a significant population increase leading to increased consumption of meat which has been growing at an alarming rate of 4% per annum. Apart from meat consumption, the demand for milk and dairy products have also experienced a demand growth by 2-3% per annum. Due to the increase in demand, there have been notable effects on the aggregate agricultural output. There has been a rapid increase in the livestock production consequently affecting the crop sector that supplies the virginiamycin feed. The virginiamycin feed demand has been considered as a dynamic element conditioning the growth, particularly in the developed regions. The growth in demand for animal feed and livestock itself has been raising the need for virginiamycin in the market to maintain the animal health devoid of side effects thereby aiding the market sales.
The technological advancements in the field of molecular biology and gene sequencing as allowing the researchers and scientists to develop new antibiotic formulas that are more adaptable for the animals. The virginiamycin supplements are undoubtedly beneficial for the animal growth and the gut health; however, the consumers still battle with several side-effects upon animal growth. The development of the new age technology is reforming the virginiamycin market providing better opportunities over the forecast period.
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Antibiotics have been used traditionally used around the globe in sub-therapeutic levels to counter microbial infections in animals subsequently improving their performance. However, due to the health concerns for humans as well as animals and the increase in antimicrobial resistance, these AGPs are either banned or restricted in several nations. The use of these AGPs such as virginiamycin is limited and restricted depending upon the region or country. Moreover, a vast consumer shift has been experienced towards probiotics.
Markets in Europe, Middle East and Africa and Asia Pacific are expected to grow significantly over the forecast period. Consumption of Virginiamycin is relatively high among consumers in countries in the Europe region, which is expected to drive the Virginiamycin market growth in the near future. Increasing concerns about zero fat food products among consumers globally and changing consumption trends towards zero trans-fat food products in the young population are the factors expected to drive the growth of the global Virginiamycin market over the forecast period.
Among all the regional markets, North America is estimated to dominate the Virginiamycin market in terms of revenue share, followed by Europe and Asia Pacific. Asia Pacific and Latin America are expected to register higher growth in terms of value over the forecast period.
Some of the key market participants in the global Virginiamycin market are:
- Phibro Animal Health Corporation
- Merck Animal Health
- Bayer Animal Health
- Boehringer Ingelheim
- Other prominent players
The research report presents a comprehensive assessment of the Virginiamycin market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Virginiamycin market segments such as geographies, nature and end-use industries.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of Virginiamycin. The report also maps the qualitative impact of various market factors on market segments and geographies.
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