Feed Palatability Enhancers Market Outlook
Feed
palatability enhancers are added to livestock food formulation to enhance the
taste, texture, and aroma of the feed. They help to improve the quality of the
feed which contributes to increased feed intake among the livestock. The most
commonly added feed palatability ingredients include flavors, sweeteners, aroma
enhancers, and others. They contribute towards improved animal health and
reduce the livestock diseases which further helps in quality of products
derived from livestock. Growing livestock industry is driving the market for
feed palatability enhancers.
Feed palatability enhancers market are means to improve the quality of livestock
feed, increase feed consumption and enhance the performance of the livestock.
Growing population in developing countries has increased the demand for
production and consumption of poultry, swine, aquaculture, and other livestock
which is driving the market for feed palatability enhancers. Moreover, rising
cost of natural feed is boosting the growth of feed palatability enhancers
market.
Owing to
increasing outbreak of livestock diseases, there are continuous innovations in
animal feed which is adding fuel to the growth of feed palatability enhancers
market. However, increase in the cost of raw materials may hamper the market of
feed palatability enhancers. Nevertheless, all these factors are projected to
contribute to feed palatability enhancer market, valued at USD 7.6 billion
in 2022 , is experiencing a steady rise, with projections indicating a Compound
Annual Growth Rate (CAGR) of 3.62% that will push the market to USD 9.748
billion by 2030 . This article explores the factors driving this growth, delves
into the applications of these enhancers, and examines the exciting future of
this niche yet crucial market.
Segment
Analysis
Feed
palatability enhancers market is segmented by types such as flavors,
sweeteners, aroma enhancers, and others. Among all, the flavors segment is
anticipated to be the fastest growing segment followed by the aroma segment
over the forecast period.
On the
basis of livestock, feed palatability enhancers can be segmented into
ruminants, poultry, swine, aquaculture, pets and others. Among all, the pets
segment is dominating the market in consumption of feed palatability enhancers
market. However, the poultry segment is projected to grow substantially over
the forecast period.
Competitive
analysis:
The major
players in the feed palatability enhancers market
- DuPont (U.S.)
- Associated British
Foods PLC (U.K)
- Diana Group (France)
- Kerry Group PLC
(Republic of Ireland)
- Eli Lilly and Company
(U.S.)
- Kent Feeds Inc. (U.S.)
- Ensign-Bickford
Industries Inc. (U.S.)
Regional Analysis
The global
feed palatability enhancers market is segmented into North America, Europe,
Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the feed
palatability enhancers market followed by North America. In Asia Pacific,
rising population followed by increasing consumption of livestock in developing
countries of Asia Pacific is boosting the feed palatability enhancers market.
Moreover, China is experiencing rising trend in having pets which are growing
the demand for feed palatability enhancers in pet foods in this region.
In North
America, the U.S. is dominating the market owing to increasing demand for meat
products. Moreover, rising demand for poultry and swine products in Europe will
boost the feed supplement market. Additionally, Brazil and the Middle East
regions are witnessing growth owing to increase in demand for protein intake
from swine and poultry applications.
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