The global poultry antibiotic market is estimated to be valued at US$ 2.0 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Poultry antibiotics are antimicrobial drugs given to poultry animals such as chicken, turkeys, and others to prevent bacterial infection. They are available in various forms like premixes, oral powders, and injectables. Rising public health concerns regarding the quality and safety of meat have increased the demand for safe and high-quality poultry meat and products. Poultry antibiotics help maintain poultry health, improve growth rate, and prevent bacterial diseases. This in turn helps farmers offer wholesome meat to consumers.
Market key trends:
One of the major trends driving the market growth is rising awareness among farmers and producers about animal welfare and well-being. Continuous use of antibiotics can pose health hazards to humans. As a result, key players are focusing on developing alternatives to antibiotics. For example, phage therapy utilizes bacteriophages or viruses that only target specific pathogens without disturbing the normal microflora. Several organic acids, probiotics, prebiotics, essential oils, minerals, and botanicals are also increasingly gaining acceptance as alternatives. Furthermore, advances in vaccine technology, biosecurity measures, and proper farm management practices help prevent diseases without using antibiotics consistently.
Threat of new entrants: Low barriers to entry including low capital requirement and established distribution channel pose moderate threat for new players in the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to presence of many established manufacturers and suppliers in the market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and global presence of suppliers.
Threat of new substitutes: Threat of substitutes is low as poultry antibiotic are unique in their functions and applications in animal healthcare.
Competitive rivalry: Market is competitive due to presence of many global and regional players.
The global Poultry Antibiotic Market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period 2023 to 2030, due to increasing consumption of poultry meat and focus on animal health. The poultry antibiotic market size was valued at US$ 2.0 Bn in 2023.
Regional analysis: Asia Pacific region dominates the global poultry antibiotics market and is expected to grow at fastest pace during forecast period. Abundant raw material availability, rising disposable income, increasing meat consumption in countries like China and India is propelling the market growth in the region.
Key players analysis: Key players operating in the poultry antibiotic market are Zoetis Inc., Elanco Animal Health, Boehringer Ingelheim Animal Health, Merck & Co. Inc., Bayer AG, Ceva Santé Animale, Virbac, Vetoquinol S.A., Phibro Animal Health Corporation, Huvepharma, Neogen Corporation, Nisseiken Co., Ltd., Venkys India Ltd., Inovio Pharmaceuticals, Inc. These players are focusing on new product launches and expansion in global markets to strengthen their market position