Feed Palatability Enhancers Market Significant Profits Estimated to be generated by 2023 with Leading Company Profiles

Market Scenario:

Performance of the livestock highly depends upon their feed intake. The daily feed consumption of livestock is determined by various factors, one of which is the palatability of the feed. The palatability of the feed is positively correlated with the taste experienced by the livestock. This factor can be controlled by selecting appropriate feed palatability enhancers. The important types of feed palatability enhancers include flavors, sweeteners, aroma enhancers, and others. They help to enhance the taste, texture and the smell of the feed which is likely to increase the feed consumption rate among the livestock.

Feed palatability enhancers are gaining tremendous growth in past few years. Feed palatability enhancers are additives added to enhance the taste and quality of the livestock feed. Increasing awareness of animal nutrition and rising concern for animal health is driving the market of feed palatability enhancers.  Growing population in developing countries has increased the demand for production of poultry, swine, aquaculture and other livestock for consumption which has opened doors for feed palatability enhancers market.

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Increase in the consumption of meat and meat products is adding fuel to the growth of feed palatability enhancers market. Moreover, regional governments are forming regulations to standardize meat products to prevent consumers from the outbreak of livestock diseases which is further boosting the growth of feed palatability enhancers market. Additionally, increasing trend of having a pet is growing the demand for feed palatability enhancers in pet foods. However, the negative impact caused by certain ingredients may restrict the growth of the market.

Major Key Players:

Some of the key players profiled in the global feed palatability enhancers market are DuPont (U.S.), Associated British Foods PLC (U.K), Diana Group (France), Kerry Group PLC (Republic of Ireland), Eli Lilly and Company (U.S.), Kent Feeds Inc. (U.S.), Ensign-Bickford Industries Inc. (U.S.), Tanke International Group (China)

Key Findings:

Asia Pacific is witnessed to gain increasing demand for feed palatability enhancers

Fat is anticipated to be the major palatability enhancer in cats.

Market Segments:

Feed palatability enhancers market is segmented by types such as flavors, sweeteners, aroma enhancers, and others. Among all, the flavors segment is anticipated to be the fastest growing segment followed by the aroma segment over the forecast period.

On the basis of livestock, feed palatability enhancers can be segmented into ruminants, poultry, swine, aquaculture, pets and others. Among all, the pets segment is dominating the market in consumption of feed palatability enhancers market. However, the poultry segment is projected to grow substantially over the forecast period.

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Regional Analysis:

The global feed palatability enhancers market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the feed palatability enhancers market followed by North America. In Asia Pacific, China is the major contributor to meat industry which in turn grows the market of feed palatability enhancers in this region. Moreover, rising population followed by increasing consumption of livestock in developing countries of Asia Pacific is boosting the feed palatability enhancers market.

In North America, the U.S. is dominating the market owing to the favorable government regulations imposed. Moreover, rising demand for poultry and swine products in Europe will boost the feed palatability enhancers market in this region. Additionally, Brazil and the Middle-East regions are witnessing growth owing to increase in demand for protein intake from swine and poultry applications.

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