Market Trends of North America Feed Palatability Enhancers Industry
This section covers the major market trends shaping the North America Feed Palatability Enhancers Market according to our research experts:
Increased Meat Consumption
The meat consumption in the countries across the region 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. The rise in the levels of income in most of the developing countries has induced demand for superior quality meat and meat products. According to the United States Department of Agriculture, the per capita meat consumption in the United States, is 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.
United States Dominate the Feed Production
According to the AllTech feed survey in 2019, the total feed production in the United States accounted for 214 million metric tons with about 5,715 feed mills. With the increasing per capita income and growing population level, the demand for food crops and cash crops is also estimated to increase globally, along with an increase in food from animal origin, including meat, fish, milk, and eggs. According to resources studied, The country remains the world's largest animal feed producer and exporter. It is also home to many of the world's leading animal feed producers. Several feed companies are reviving the previously discontinued investment projects on feed. The ruminant sector holds the major share in the overall feed produced in the country, Hence the Increased feed production in the region tends to increase the demand for palatability enhancer in the market during the forecast period.
