The rise in demand for animal-based food products, including animal meat and milk, all across the globe, is expected to fuel the market growth, owing to the direct association of animal meat and milk consumption with the demand for treatment and cure of any animal disease. Zoonotic diseases are quite common around the world. According to the scientists of the Centers for Disease Control and Prevention (CDC), over 6 out of every 10 known infectious diseases in humans are spread via animals. So, it is evident that these diseases are major public health problems worldwide. The world meat consumption statistics provided by the US Department of Agriculture - Foreign Agricultural Service (USDA – FAS), about 40% of total meat consumption in 2018, globally, was accounted for by pork meat alone. Similarly, as reported by the Department for Environment, Food and Rural Affairs, Government of United Kingdom, the production of a range of liquid milk and milk products demands higher volumes of milk from dairies in England and Wales. Of the total milk used, 53% goes to liquid milk production, 24% for cheese production, butter 2.4%, and cream production 2.2%. Along with these factors, the rise in the prevalence of parasitic diseases in livestock animals is expected to drive market growth, over the forecast period.
Key Market Trends
Cattle Segment is Expected to Show Better Growth in the Forecast Years
Based on Animal Type, the market is segmented into cattle, swine, poultry, and other animals. The growth of the cattle segment is mainly attributed to the high population of cattle across the world and the dominance of cattle farming as a major income source for people in many countries. For example, in countries such as China and Mexico where the livestock population is high, the market for cattle dewormers products is larger compared to the developed countries. According to the Food and Agriculture Organization (FAO), the worldwide population of cattle is more than 1.4 billion, out of which a large proportion is noted in countries such as India, Brazil, and China. The rising awareness about cattle diseases is currently growing due to the high demand for improved and healthy meat. Hence, these factors are anticipated to have a positive impact on the market in the forecast years.
North America Dominates the Livestock Dewormers Market
North America region is among the major contributor to livestock, and implementation of animal healthcare benefits across the globe. The market is growing rapidly due to increasing prevalence of livestock worm infection coupled with growing demand of animal products. According to 2017 data by the North American Meat Institute, the poultry and meat industries are the largest division of U.S. agriculture sector. Moreover, rising disease burden in animals is further pushing the need for effective and quick treatment options which is expected to propel the growth of the livestock dewormers market, over the forecast period.
The market for livestock dewormers is moderately competitive and there are several international companies in t he market. The global players in the livestock dewormers market are – Bayer AG, Boehringer Ingelheim GmbH, Durvet Inc, Elanco, First Priority Inc, Jeffers Inc, Manna Pro Products, LLC, Merck & Co Inc, Virbac and Zoetis Inc.
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