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The Global Feed Palatability Enhancers Market report offers a wide-ranging analysis of the market size, trend, industry attractiveness, competitiveness and forecast to 2024. The report is segmented by Type (Flavors, Sweeteners, and Aroma Enhancers) and by Animal Type (Ruminant, Poultry, Swine, Aquaculture, Pets, Horses and Others). The market is also segmented by Geography covering over 16 countries across the world.
The Feed Palatability Enhancers Market is estimated to register a CAGR of 5.5% during the forecast period.
Palatability enhancers are very important for enhancing the desirability of feed intake by enhancing the taste, aroma, and texture, thus making the feed more palatable. The demand for feed palatability enhancers is estimated to increase rapidly over the coming years. The scope of the global feed palatability enhancers report covers segmentation by type into flavors, sweeteners, and aroma enhancers and various types of animals including livestock and pets. Additionally, the report includes a segmentation analysis based on geography covering all the major countries across the world.
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The global meat consumption has been rising rapidly, thereby fuelling the growth of the feed palatability enhancers market. The growing preferences for high-grade meat and meat products from the health-conscious consumers are driving the demand for feed palatability enhancers, globally. According to the Irish State Agency, Bord Bia, the worldwide consumption of poultry meat has increased from 99 million tons in 2010 to 117 million tons in 2017. The rise in the levels of income in most of the developing countries has induced demand for superior quality meat and meat products. The per capita meat consumption in the United States, Brazil, and Argentina are also rising because of the lower costs in beef production, owing to the extensive land area under grazing. The unpleasant additives and supplements in livestock feed are formulated with the help of palatability enhancers, thereby augmenting the feed intake in animals.
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Asia-Pacific is the largest market for feed palatability enhancers, accounting for a significant share in the overall market. The growing consumer awareness about quality feed and pet food in the region has spurred the demand for feed palatability enhancers. Moreover, the soaring prices of meat driven by numerous disease outbreaks like the African Swine Fever have led the producers to tap the profits in the region, hence boosting the feed palatability enhancers market. The rise in income levels in developing countries like India and China are leading to growing numbers of pet ownership, healthcare, and spending, thereby driving the feed palatability enhancers market.
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The market for feed palatability enhancers is highly fragmented with the presence of key international players and many small players competing in the market. Some of the notable players are DuPont de Nemours, Inc., Associated British Foods plc, Kerry Inc., Symrise, Adisseo, Elanco, Ensign-Bickford Industries Inc., Kent Nutrition Group and others. The most adopted strategies for these companies are mergers and acquisitions, and time to time collaborations for investments in new product developments and research enhancement. For instance, Associated British Foods plc entered into an agreement to acquire a major stake in South Africa-based sugar producer Illovo Sugar Ltd. in 2016, with a view to capitalize on its sugar ingredients including sweeteners across the world. Kerry Inc. agreed to acquire Ariake USA and Southeastern Mill's North American coating and seasonings business in 2018, which would further enhance Kerry's taste and clean-label portfolio of products.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.3 Aroma Enhancers
5.2 Animal Type
5.2.5 Other Animal Types
5.3.1 North America
184.108.40.206 Rest of North America
220.127.116.11 Rest of Europe
5.3.3 Asia Pacific
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
126.96.36.199 South Africa
188.8.131.52 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.2 Associated British Foods plc (ABF)
6.3.3 Kerry Group plc
6.3.4 Symrise AG
6.3.5 Adisseo France SAS
6.3.6 Elanco Animal Health
6.3.7 Ensign-Bickford Industries Inc.
6.3.8 Kent Nutrition Group
6.3.9 Kemin Industries, Inc.
6.3.10 Tanke International Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS