In 2021, the global animal parasiticides market reached a substantial value of US$ 10,261.1 million. The forecast for this market is remarkably promising, with expectations to reach US$ 32,491.1 million by 2030, driven by a remarkable compound annual growth rate (CAGR) of about 16.1% during the forecast period from 2022 to 2030.
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Market Overview
Animal parasiticides are chemical compounds that play a vital role in safeguarding the health of animals, including livestock and pets, by eliminating harmful parasites, fungi, and bacteria. They encompass one or more active ingredients formulated into products that combat infectious parasites and support animal well-being.
Market Drivers
Several factors are propelling the growth of the global animal parasiticides market:
Rising Awareness
Growing awareness regarding the importance of animal parasiticides is a primary driver of market expansion. Consumers increasingly recognize the value of these products in preserving animal health.
Growing Livestock Numbers
The rapid increase in the population of animal livestock, especially in emerging markets, is significantly contributing to market growth as it drives the need for effective parasiticide solutions.
Expanding Product Range
The market is expanding through a wider array of offerings and the implementation of welfare acts, fostering the well-being of animals. The rising adoption of pets, such as dogs and cats, further boosts the market.
Per Capita Expenditure
Increasing per capita expenditure on animal welfare and healthcare products is boosting the market’s expansion. This is driven by a growing willingness to invest in animal well-being.
Food-Producing Activities
The essential role of animal parasiticides in ensuring the health of animals used in food production activities is a significant growth driver. This is particularly important for maintaining a safe and reliable food supply.
Despite these positive factors, the growth of the market may be constrained by stringent regulations governing the approval and use of animal parasiticides.
COVID-19 Impact
The COVID-19 pandemic had a mixed impact on the animal parasiticides market. While the demand for these products decreased due to revenue declines in hotels and restaurants, manufacturing also faced challenges due to nationwide lockdowns and import-export restrictions. However, the focus on animal health and welfare, coupled with the need to ensure a secure food supply, created new opportunities for the market.
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Regional Analysis
North America: Expected to hold the largest share in the market due to a strong demand for animal-derived food products and increased awareness about the benefits of animal parasiticides.
Asia-Pacific: Anticipated to experience significant market growth driven by heightened awareness of animal health management and expanding animal-raising activities, especially in countries like India and China.
Key Market Players
Leading companies in the animal parasiticides market include:
AB Vista Inc.
Merck Animal Health
Zoetis Inc.
Boehringer Ingelheim International
Bupo Animal Health
Cargill Inc.
Danisco A/S
Chr. Hansen A/S
Novus International Inc.
Other Prominent Players
Market Segmentation
The global animal parasiticides market is segmented based on product, animal type, end-users, and region:
By Product
Ectoparasiticides:
Sprays
Dips
Collars
Pour-on & Spot-on
Ear Tags
Others
Endoparasiticides:
Injectable
Orals
Feed Additives
Others
Endectocides
By Animal Type
Food-Producing
Companion
By End-Users
Veterinary Hospitals
This comprehensive segmentation allows for a deeper understanding of the animal parasiticides market, facilitating informed decision-making and navigation of the evolving landscape of animal health and welfare.
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Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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