Animal Growth Promoter Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The animal growth promoter market size is estimated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to growing awareness about animal health and changing food habits.
The animal growth promoter is an equivalent combination of one and more micro-elements such as minerals, amino acids, and vitamins. Promoters are used to assist uniform distribution of microelements in a major mix. The developers provide promoters to ensure a regular equivalent supply of nutrients to the animals to increase the productivity of the animals and enhance the quality of feeds. The covid-19 pandemic affected the demand and supply of the animal growth promoter market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
Increase in consumption of meat is projected to boost the market. Increasing demand for chemical residues free products is the major factor fueling the market. High cost of growth promoter products is projected to restrict the market expansion during the forecast period. Government put ban on use of certain antibiotics is anticipated to hamper the market growth in the coming years.