The global feed palatability enhancers market was valued at USD 5.45 billion in 2023 and is anticipated to reach USD 5.65 billion in 2024 from USD 7.49 billion by 2032, growing at a CAGR of 3.60% from 2024 to 2032.
Palatability enhancers are used to enhance the taste, smell, and texture of pet foods to increase their desirability to companion animals. The bitter taste of vitamins, minerals, and other medicines can be minimized by mixing palatability enhancers with animal feed, thereby increasing animal feed intake. Moreover, palatability enhancer increases the shelf-life stability of the product.
The feed palatability enhancers market is fueled by the rise in meat consumption all over the world. The feed palatability enhancers market has been growing at a steady rate over the last few years. The high consumption and export of meat in the Asia Pacific are fueling the region's market. The unpleasant smell and bitter taste of the feed that comes from feed additives–that are considered good for the gut health of the digestive tract in the animals and are also a good substitute for the antibiotics in the feed are neutralized by the flavors and sweeteners. The market for these products is growing in developing economies such as China, India, and Brazil.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
3.60% |
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Segments Covered |
By Type, Livestock, And Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
British Foods PLC, Diana Group, E. I. Dupont. Eli Lilly and Company, Ferrer, Kemin Europa, Kent Feeds Inc., Kerry Group PLC, Ensign-Bickford Industries Inc., and Tanke International Group |
The Asia Pacific region accounted for the largest share of the market, followed by North America and Europe. Asia Pacific is also expected to register the highest CAGR in the coming years. The North American feed palatability enhancers and modifiers market is also growing rapidly due to the rising awareness of pet owners about the quality of products and the chemicals used in animal feeds. These are the major factors that drive the growth of the feed palatability enhancers and modifiers market in the region.
The market is dominated by companies like Associated British Foods PLC, Diana Group, and E. I. Dupont. Eli Lilly and Company, Ferrer, Kemin Europa, Kent Feeds Inc., Kerry Group PLC, Ensign-Bickford Industries Inc., and Tanke International Group.
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