Feed Palatability Enhancers And Modifiers Market

Feed Palatability Enhancers and Modifiers Market Size & Growth:

Feed Palatability Enhancers and Modifiers Market was worth USD 3.07 Billion in 2021 and estimated to be growing at a CAGR of 3.65%, to reach USD 3.67 billion by 2026.

The Feed Palatability Enhancers & Modifiers market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rise in meat consumption all over the world and has thus received specific attention from the manufacturers of Feed additives such as sweeteners, flavours and textures. Feed Palatability Enhancers & Modifiers are generally used to overcome the bitter taste and smell of feed as a result of feed additives, which are good for animal health and thus are necessary. Flavours and Sweeteners are thus used to neutralize the smell and taste. Palatability includes mould control, oxidation and better shelf life for animal feed.

Drivers and Restraints of Feed Palatability Enhancers and Modifiers Market:

The rising demand for safety and healthy human food and mass production of meat has caught the attention of various feed additives manufacturers. It has led to rapid growth in the market over recent years. Other factors driving the market growth include consumer awareness about meat quality, rise in meat consumption, increased demand for feed and the quality of pet food which is a major concern. The market also faces some challenges and restraints. Some of the important ones are increasing in the cost of raw materials and the harmful effects of ingredients. These factors have been responsible for holding back the market from reaching its actual potential.

REPORT COVERAGE:

Feed Palatability Enhancers and Modifiers Market Segmentation:

Feed Palatability Enhancers and Modifiers Industry – By Type:

• Sweeteners

• Flavours

Feed Palatability Enhancers and Modifiers Industry – By Livestock:

• Swine
• Poultry
• Cattle
• Aquaculture
• Pet foods

Feed Palatability Enhancers and Modifiers Industry – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
• Rest of the World

The Feed Palatability Enhancers & Modifiers market was dominated by Asia-Pacific, with the overall market share of over 34% globally. Asia-Pacific was followed by Europe and North America. The Asia Pacific is predicted to grow at a rapid pace while Europe market is expected to be stagnant in the coming few years.

Segment Analysis of the Feed Palatability Enhancers and Modifiers Market:

The market share is dominated by natural products due to the health concerns related to synthetic products. The cattle segment accounted for the highest market share on the basis of livestock due to increase in production of cattle meat over the recent years and is expected to grow even further.

Competitor Analysis and Key Players Mentioned in this Market are:

• Associated British Foods PLC
• Diana Group
• E. I. Dupont
• Eli Lilly and Company
• Ensign-Bickford Industries Inc
• Ferrer, Kemin Europa
• Kent Feeds Inc
• Kerry Group PLC
• Tanke International Group