Global Feed Palatability Enhancers Market - 2023-2030

Global Feed Palatability Enhancers Market - 2023-2030

Global Feed Palatability Enhancers Market reached US$ 3.54 billion in 2022 and is expected to reach US$ 5.47 billion by 2030, growing with a CAGR of 5.61% during the forecast period 2023-2030.

The global feed palatability enhancers market has witnessed significant growth, The poultry industry and farmers are highly adopting these additives in animal diets as they help make the feed more appealing to livestock by improving the taste, flavor, and smell of a feed. This helps in increasing feed consumption and nutritive intake. Hence, such factors can help in driving the global feed palatability enhancers market.

Furthermore, many manufacturing companies are highly investing in palatability enhancers. For instance, Adisseo company produced Aquabite, which enhances feed appetite and feeding response of low fish meal diets, supporting fish meal replacement. Hence, such products can help in increasing the market growth.

The aroma enhancer segment accounts for over half of the market share. Similarly, the Asia-Pacific had a dominance in the global feed palatability enhancers market, as the consumption rate of animal-based products is high in this region, it remains the largest consumer of feed palatability enhancers.

Dynamics

Increase in Consumption of Animal-Based Products

The consumption rate of animal-based products is increasing. For instance, for instance, according to a USDA report, the Pork Consumption per capita in the US was from 51.1 to 51.6 Pounds in 2022. Hence, such high consumption rates can help in increasing the adoption rate of nutritive additives in animal feed.

Furthermore, as the consumption rate is increasing, the poultry industries are highly adopting these feed palatability enhancers as they improve the taste and aroma of animal feeds, which helps in increasing the overall consumption of feed by animals, which helps in improving the growth and production of animals. Hence, such factors help in increasing the market growth.

Raising in Demand for Functional Feed Additives in Animal Feeds

Poultry industries are highly adopting functional feed additives such as palatability enhancers in animal diets, as they improve the flavor, and taste of feed, which helps enhance feed consumption and conversion and nutritibe intake in animals. Hence, such factors can help in increasing the market growth.

Furthermore, as the demand for these functional feed additives is increasing, many companies are launching innovative products to expand their market size. For instance, in October 2021, Kerry Group plc., had launched PurePal, it is a plant-based natural flavor, that can improve pet food aroma without compromising palatability performance. Hence, such products can help in increasing the market growth.

Less Awareness

The less awareness significantly affects the growth of the global feed palatability enhancers market. Some farmers may not be aware of the benefits of functional feed additives in livestock animals and might not have a proper understaing anout these additives and may opt for other alternatives, this could affect the adoption rate of starter feeds in animals, hence, it can lead to a decline in the growth of the global ffed palatability enhancers market.

Segment Analysis

The global feed palatability enhancers market is segmented based on type, source, distribution channel, livestock, and region.

Increase in Demand for Appealing Animal Nutrition

The aroma enhancers segment holds the maximum share in the global feed palatability enhancers market. Consumers are adopting aroma enhancers, as they are designed to improve the smell and flavor of the feed, which helps make it more appealing for the animals and helps in increasing feed consumption. Hence, such factors help in increasing the market growth.

Furthermore, as the demand for these additives is increasing among consumers, many manufacturing companies are producing innovative products to increase their portfolios. For instance, Kemin Industries, Inc. company produces Palasurance, they are applied on dry pet foods, it is designed to appeal to the taste and aroma of cat and dog feed. Helps in increasing the overall consumption of dry pet food diets. Hence, such products can help in increasing the market growth.

Geographical Penetration

High Consumption Rate

The Asia-Pacific region shows the dominant force in the global feed palatability enhancers market, the poultry industries are highly adding these additives in livestock diets as they help increase feed consumption by enhancing the taste and smell of feed, which helps in improving the growth and development of animals. Hence, it can help in increasing the market in this region.

Furthermore, the demand for animal meat is increasing in this region, For instance, according to the Department of Agriculture, Fisheries and Forestry report of 2023, in Australia, the total value of poultry meat production to be $3.5 billion in 2022–23 and $3.6 billion in 2023–24. And pork meat production is 1.7 billion in 2022–23 and $1.8 billion in 2023–24.

Additionally, according to the National Family Health Survey of 2019-20, had shown that over half of the 30 states, more than 90% of the population consumes fish or chicken, or meat on a daily or weekly basis. Hence, such consumption rates can help in increasing the demand for functional feed additives such as palatability enhancers in animal feeds.

Competitive Landscape

The major global players in the market include Kemin Industries, Inc, Kerry Group plc., Symrise, Adisseo, Ensign-Bickford Industries, Inc., Kent Nutrition Group, Solvay, CBS Bio Platforms Inc., BORDAS S.A., and Mafco Worldwide LLC.

COVID-19 Impact Analysis

During the pandemic, many people have started adopting high protein diets which increases the demand for the production of high-quality animals, which increases the demand for feed palatability enhancers in the poultry industry, hence it can help in increasing the global feed palatability enhancers market.

By Type
• Feed Flavors
• Sweeteners
• Feed Texturants
• Aroma Enhancers
• Others

By Source
• Natural
• Synthetic

By Distribution Channel
• E-Commerce
• Hypermarkets/Supermarkets
• Specialty Stores
• Others

By Livestock
• Swine
• Ruminants
• Aquaculture
• Poultry
• Pets
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In June 2022, Wilbur-Ellis Nutrition acquired F.L. Emmert. A leading manufacturer and marketer of advanced nutritional solutions for the pets and livestock industries. The acquisition will expand our product and customer base in pet food with value-added products.
• In January 2023, the ADM acquired a Missouri research farm from Novus International, it features a standard animal nutrition laboratory, 30 acres of pasture for grazing, and housing for poultry, swine, and ruminants in its nutritional health studies.

Why Purchase the Report?
• To visualize the global feed palatability enhancers market segmentation based on type, source, distribution channel, livestock, and region, as well as understanding key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of feed palatability enhancers market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global feed palatability enhancers market report would provide approximately 69 tables, 72 figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies