South & Central America Palatants Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Dry and Liquid), Category (Organic and Conventional), and Source (Plant Derived Palatants, Meat Derived Palatants, Insect Derived Palatants, and O

South & Central America Palatants Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Dry and Liquid), Category (Organic and Conventional), and Source (Plant Derived Palatants, Meat Derived Palatants, Insect Derived Palatants, and Others)

The South & Central America palatants market is expected to grow from US$ 114.99 million in 2022 to US$ 132.33 million by 2028. It is estimated to grow at a CAGR of 2.4% from 2022 to 2028.

Rising Popularity of Pet Humanization have Increased the Demand for South & Central America Palatants Market

In recent years, the humanization of pets grew significantly across the globe. The shift from pet owning to pet parenting has been a defining trend in the palatants market, especially in developed economies. Increasing consumer spending on pet care categories is attributed to the growing trend of pet humanization. Consumers are increasingly spending on premium pet food and products that are healthy, nutritious, and improving living conditions. There is a growing focus on pet health and wellness, sustainable products, eco-friendly, natural, and locally-sourced ingredients. Consumers are also investing in special diets and indulgent products, which promise a better quality of life to their pets. The use of palatants in pet food helps improve the taste, flavor, and texture that resemble their original meat food. Thus, the rising popularity of pet humanization have increased the demand for South & Central America palatants market during the forecast period.

South & Central America Overview

The South & Central America palatants market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil is one of the world’s largest markets for animal feed products. During the initial months of the COVID-19 pandemic, thousands of Brazilian households acquired pets. Consumers are now becoming aware of their pet’s health and are mainly buying premium pet food with rich nutritional value. Moreover, the pet care industry in Chile is benefitted from the humanization of pets. As per the Agriculture and Livestock Service of Chile, the Chilean government authorized and registered 147 new imported pet food products in the local market in 2021. Thus, with the increasing animal food consumption, the demand for palatants is expected to surge in Brazil, Chile, and other South & Central American countries in the coming years.

South & Central America Palatants Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Palatants Market Segmentation

The South & Central America palatants market is segmented into form, category, source, and country.

Based on form, the South & Central America palatants market is bifurcated into dry and liquid. The dry segment held the larger market share in 2022.

Based on category, the South & Central America palatants market is bifurcated into organic and conventional. The conventional segment held the larger market share in 2022.

Based on source, the South & Central America palatants market is segmented into plant derived palatants, meat derived palatants, insect derived palatants, and others. The meat derived palatants segment held the larger market share in 2022.

Based on country, the South & Central America palatants market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022.

AFB International Inc; Archer-Daniels-Midland Co; BHJ AS; Innov Ad NV/SA; Kemin Industries Inc; Kerry Group Plc; Ohly GmbH; and Symrise AG are the leading companies operating in the South & Central America palatants market.

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