Global Bovine Somatotropin (BST) Market by Type (Recombinant Bovine Somatotropin (rBST), Bovine Somatotropin), By Application (Personal, Plant) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global bovine somatotropin (BST) market is expected to reach USD 1.5 billion by 2030, registering a CAGR of 5.1% during the forecast period 2018-2030. The growth in the market can be attributed to the increasing demand for milk and meat products, rising awareness about animal health and nutrition, and technological advancements in the field of BST production. However, factors such as stringent regulations for BST use and its high cost are restraining the growth of this market. Based on type, recombinant bovine somatotropin (rBST) accounted for a major share of the global BST market in 2017. rBST is produced through genetic engineering using bacteria or yeast cells that have been modified to produce human-like hormones known as somatotropins. It helps dairy cows produce more milk than they would naturally produce without it; however, its use is banned in some countries owing to safety concerns related to human health.



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Product Definition:

Bovine Somatotropin (BST) is a protein hormone produced in the pituitary gland of cattle. It regulates the growth and metabolism of cattle.

Recombinant Bovine Somatotropin (rBST):

Recombinant Bovine Somatotropin (rBST) is a growth hormone that was developed by the recombinant DNA technology. It is widely used in dairy cattle to increase milk production and improve meat quality. rBST has no effect on humans or other animals, as it does not contain human growth hormone (GH).

The main function of rBST is to increase milk production in cows, which means more cream, butterfat.

Bovine Somatotropin:

Bovine Somatotropin (BST) is a growth hormone that is naturally produced by the bovine. It has been observed that Bovine Somatotropin increases milk production in dairy cows and helps them to recover quickly from illness & injury. The U.S., China, India, Brazil, Japan and New Zealand are the major countries where Bovine Somatropin is used on a commercial scale for improving animal health.

Application Insights:

On the basis of application, the global market has been segmented into personal and plant BST. Personal use of bovine somatotropin includes consumption by individuals for weight management and muscle development. The plant-based application segment is anticipated to witness significant growth over the forecast period owing to its wide-spread usage in various industries including dairy, meat & seafood, and pharmaceuticals.

Plant BST is used for increasing milk production in animals that are engaged in dairy farming or breeding activities. This hormone enhances protein synthesis during lactation resulting in increased milk production from cows.

Regional Analysis:

North America accounted for the largest share of over 40.0% in 2017, owing to high awareness levels regarding the benefits of bovine somatotropin among dairy farmers and their families. The region is expected to maintain its dominance during the forecast period due to factors such as technological advancements, increased focus on food security, and rising concerns regarding health & hygiene amongst consumers.

Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period owing to increasing awareness about bovine somatotropin among end-users such as feed manufacturers and pharmaceutical companies in China & India. In addition, favorable government regulations aimed at increasing investments from foreign players are expected to boost regional growth over next eight years.

Growth Factors:

Increasing demand for milk and dairy products: The global population is growing at a rapid pace and so is the demand for milk and dairy products. This is expected to drive the growth of the BST market in the coming years.
Rising awareness about the benefits of BST: The benefits of BST such as increased milk production, improved feed efficiency, and better calf health are gaining increasing attention from farmers worldwide. This is likely to boost the growth of the BST market in future.
Growing popularity of recombinant DNA technology: Recombinant DNA technology has revolutionized livestock farming by helping farmers improve their productivity significantly. This is likely to fuelthegrowthoftheBSTmarketinfutureyearsaswell.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Bovine Somatotropin (BST) Market Research Report
By Type
Recombinant Bovine Somatotropin (rBST), Bovine Somatotropin
By Application
Personal, Plant
By Companies
Elanco, LG Life Sciences
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.

Global Bovine Somatotropin (BST) Market Report Segments:
The global Bovine Somatotropin (BST) market is segmented on the basis of:
Types
Recombinant Bovine Somatotropin (rBST), Bovine Somatotropin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal, Plant
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Elanco
LG Life Sciences



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Highlights of The Bovine Somatotropin (BST) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Recombinant Bovine Somatotropin (rBST)
Bovine Somatotropin
By Application:
Personal
Plant
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Bovine Somatotropin (BST) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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