The global feed palatability enhancers and modifiers market is analyzed in detail in the latest research report from Market Research Future (MRFR), which provides readers with an accurate overview of the market’s historical growth patterns and further provides studied forecasts regarding the global feed palatability enhancers and modifiers market’s likely growth trajectory over the forecast period from 2022 to 2030. The major drivers and restraints operating on the global feed palatability enhancers and modifiers market are also analyzed in the report to give readers a clear idea of what is driving and holding back the market, respectively. Key tactics and competitive strategies used major players are also analyzed in the competitive analysis section of the report, which profiles major market players to provide readers with a clear picture of the global feed palatability enhancers and modifiers market’s competitive landscape and dynamics.
The feed palatability enhancers and modifiers market is mainly driven by the growth of animal husbandry in recent years. Due to the growing demand for animal products such as milk, meat, and others, the animal feed industry has become ever more refined and multifaceted. This includes the use of several feed additives to improve the quality of the feed and enable an increased yield from the animals. Such additives include medicines, vitamins, and minerals. However, such additives often bring with them a bitter taste, which is rejected by the animals. Feed palatability enhancers and modifiers are thus used to make the fortified feed palatable to the animals. Feed palatability enhancers and modifiers modify the flavor of the feed to make it more palatable to the animals, enabling continued consumption.
Feed Palatability Enhancers Modifiers Market Size is anticipated to reach USD 3.64 Billion by 2030, registering a CAGR of 3.62% during 2022-2030
The increasing acceptance of modern solutions in the animal feed industry is also a major driver for the feed palatability enhancers and modifiers market. Historically, the animal feed industry has been resistant to technological changes, as animal feed has been seen as a simple matter that doesn’t require any innovations. However, in recent times, the animal feed industry has been open to technological breakthroughs, as the increasing demand for animal products has brought about an increasing demand for animal feed, enabling the accrual of profits and capital in the industry. This is likely to remain a key driver for the global feed palatability enhancers and modifiers market over the forecast period.
Segmentation:
The global feed palatability enhancers and modifiers market is segmented on the basis of type, livestock, and region.
By type, the global feed palatability enhancers and modifiers market is segmented into flavors and sweeteners, and texturants. The flavors and sweeteners segment is further subsegmented into natural flavors, artificial flavors, natural sweeteners, and artificial sweeteners.
By livestock type, the global feed palatability enhancers and modifiers market is segmented into ruminants, pets, swine, aquaculture, and others.
Competitive Analysis:
Global key feed palatability enhancers and modifiers market players include Solvay SA, Phytobiotics Futterzusatzstoffe GmbH, Nutriad International NV, Pancosma SA, Prinova Group LLC, Tanke International Group, Ensign-Bickford Industries Inc., Grupo Ferrer Internacional SA, Kerry Group, Kemin Industries, and DowDuPont. Product diversification is likely to be the major tactic for players in the global feed palatability enhancers and modifiers market, as the market is ripe for the introduction of several types of feed enhancers and modifiers for use in various types of animal feeds.
The increasing variety in animal feed products is likely to be a major driver for the feed palatability enhancers and modifiers market, as feed palatability enhancers and modifiers are specific to each type of animal feed. Technological innovation to produce new types of enhancers and modifiers is also likely to be a popular tactic for players in the global feed palatability enhancers and modifiers market.
Regional Analysis:
Asia Pacific is expected to dominate the global feed palatability enhancers and modifiers market over the forecast period due to the growing animal feed industry in the region. The growing demand for animal products such as milk and meat in countries such as India and China is likely to be a major driver for the feed palatability enhancers and modifiers market in Asia Pacific.
Recent developments:
Symrise AG launched a new line of innovative goods (Extrapal line) produced from patented protein hydrolysates in 2020. These palatability enhancers have a high degree of hydrolysis, resulting in a high concentration of free amino acids and particular peptides mixed with chosen components that have been shown to improve the palatability performance of carnivorous feeds.
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