Virginiamycin Market

Virginiamycin Market Outlook (2023 to 2033)

It is an antibiotic complex drug used for the promotion of growth among animals such as turkeys, swine, and chickens. Antibiotics used in food animals may have advantages for human health; a case study of Virginiamycin. The market is booming as a result of the world's population expanding quickly and driving up demand for cattle.

The demand for animal feed and has increased on the international market due to the rising livestock production. Virginiamycin is used in the fuel ethanol and to prevent microbial contamination in agriculture and in the case of growing livestock.

The market has expanded as a result of the demand for extra dietary supplements for companion animals and agricultural animals to provide proper nutrition. Due to the increasing demand for meat, milk, and poultry in various countries, the market is likely to have considerable expansion during the forecast period.

The growing population of pet owners among the middle-class population is expected to drive the market. The United States alone is the world’s largest beef producer, and second largest pork producer along with a large number of dairy farms, poultry farms, and alternative livestock. The rapid increase in livestock animals in the North American region is expected to upsurge the market growth.

What favors the market growth?

The modern global food economy is primarily driven by changes in dietary habits and food consumption, particularly with regard to cattle products. The APEJ region has had a considerable rise in population over the past few decades, which has increased meat consumption, which has been rising at an alarming pace of 4% annually. In addition to meat consumption, the demand for milk and dairy products has increased by 2-3% per year. The overall agricultural output has been significantly impacted by the rise in demand.

As a result, livestock production is also propelled consequently affecting the crop sector that supplies the Virginiamycin feed. The feed demand has been considered a dynamic element conditioning 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 animal health devoid of side effects thereby aiding the market sales.

Rapid innovation in gene sequencing has improved scope for probiotic applications

Increasing population and rising food security is concern driving investment into livestock and probiotic field. The technological advancements in the field of molecular biology and gene sequencing as allowing researchers and scientists to develop new antibiotic formulas that are more adaptable for animals.

The virginiamycin supplements are undoubtedly beneficial for animal growth and gut health; however, consumers still battle with several side effects upon animal growth. The development of new-age technology is reforming the market providing better opportunities over the forecast period.

What are the hindrances to the market?

There is a rise in research and innovation in no antibiotic alternatives for growth promoters based on antibiotics. the market players are investing in research for the development of effective alternatives is hindering factor for the market at present.

Despite the fact these antibiotics were in use to counter microbial infections among animals, some countries had to put a ban on these due to rising health concerns for humans as well as animals. The caution expressed by experts regarding the development of antimicrobial resistance is the prime reason behind the restrictions placed on the usage of drugs for growth in animal health.

Moreover, there is a large surge in the shift from animal protein to plant-based options by people which is expected to bring a shift in consumer preferences toward probiotics.

Regional Outlook

Markets in Europe, the 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 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 market over the forecast period.

Among all the regional markets, North America is estimated to dominate the 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.

Key players

• Phibro Animal Health Corporation
• Zoetis
• Elanco
• Merck Animal Health
• Merial
• Bayer Animal Health
• Virbac
• Ceva
• Boehringer Ingelheim
• Vetoquinol
• Other prominent players

Recent Developments-

• On 13 March 2023, Zoetis was recognized as the world’s most ethical companies by Ethisphere. the company was one among three pharma companies to only stand alone animal health companies that got such recognition.
• On September 2022, Merck animal health company acquired Vence company which is also equivalent in livestock management. this collaboration aimed to complement the animal health broad portfolio of veterinary pharmaceuticals and animal vaccine solutions.

Segmentation

• By Animal :

  • Companion Animals
  • Poultry
  • Cattle
  • Swine
  • Aquaculture
  • Other Animals

• By Geographical Region :

  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • Japan
  • Asia Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)