Market Size of Beta Agonist Feed Additive Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Beta Agonist Feed Additives Market Analysis
The Global Beta Agonist Feed Additive Market is projected to grow at a CAGR of 2.8% during the forecast period (2020-2025). North America to dominate the beta-agonist feed additive market by garnering nearly 77% of the global sales in 2018. According to the US Department of Agriculture (USDA), the year 2018 set a record of 222.2 pounds per capita of animal meat being consumed in the United States, breaking the previous year's record of 216.9 pounds per capita. The growing consumption of meat is expected to stimulate the production of cattle, which in turn, may bolster the US beta-agonist feed additives market in the forecast period. 60-80% of the US fed cattle are raised with a beta-agonist, like Optaflexx (ractopamine hydrochloride) sold by Elanco Animal Health or Zilmax (zilpaterol hydrochloride) manufactured by Merck Animal Health. The increasing demand for animal meat, including ruminant and swine meat around the world, and the health benefits of beta-agonist feed additives are some of the major driving factors for the global beta-agonist feed additive market.
